Synovus Financial Corp Reduces Stake in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Synovus Financial Corp has significantly decreased its holdings in Jazz Pharmaceuticals by 80.7%, selling 15,507 shares, which leaves it with 3,699 shares valued at approximately $459,000.
• Several institutional investors, including Versant Capital Management and Louisiana State Employees Retirement System, have increased their stakes in Jazz Pharmaceuticals during the first quarter.
• Jazz Pharmaceuticals reported a quarterly loss of ($8.25) earnings per share, missing analyst expectations, while their revenue remained stable at $1.05 billion.

Synovus Financial Corp cut its holdings in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 80.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,699 shares of the specialty pharmaceutical company's stock after selling 15,507 shares during the quarter. Synovus Financial Corp's holdings in Jazz Pharmaceuticals were worth $459,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Versant Capital Management Inc grew its holdings in shares of Jazz Pharmaceuticals by 9.4% in the first quarter. Versant Capital Management Inc now owns 1,058 shares of the specialty pharmaceutical company's stock worth $131,000 after purchasing an additional 91 shares during the last quarter. Kendall Capital Management boosted its holdings in shares of Jazz Pharmaceuticals by 1.2% during the 1st quarter. Kendall Capital Management now owns 7,964 shares of the specialty pharmaceutical company's stock valued at $989,000 after buying an additional 95 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Jazz Pharmaceuticals by 0.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 16,900 shares of the specialty pharmaceutical company's stock valued at $2,098,000 after buying an additional 100 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its holdings in shares of Jazz Pharmaceuticals by 1.3% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 8,425 shares of the specialty pharmaceutical company's stock valued at $1,046,000 after buying an additional 110 shares in the last quarter. Finally, Cardinal Capital Management raised its position in shares of Jazz Pharmaceuticals by 0.9% in the 1st quarter. Cardinal Capital Management now owns 13,254 shares of the specialty pharmaceutical company's stock worth $1,645,000 after purchasing an additional 114 shares during the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Jazz Pharmaceuticals

In other news, CEO Bruce C. Cozadd sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $107.63, for a total transaction of $107,630.00. Following the completion of the transaction, the chief executive officer directly owned 436,973 shares of the company's stock, valued at $47,031,403.99. This represents a 0.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.30% of the company's stock.

Jazz Pharmaceuticals Stock Performance

NASDAQ:JAZZ traded up $1.62 during trading hours on Friday, reaching $127.75. The company had a trading volume of 675,563 shares, compared to its average volume of 904,550. Jazz Pharmaceuticals PLC has a 1-year low of $95.49 and a 1-year high of $148.06. The firm has a market cap of $7.75 billion, a PE ratio of -18.98, a price-to-earnings-growth ratio of 8.04 and a beta of 0.24. The business's 50 day moving average price is $114.48 and its 200-day moving average price is $116.97. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.62 and a quick ratio of 1.37.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The specialty pharmaceutical company reported ($8.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($5.61) by ($2.64). Jazz Pharmaceuticals had a negative net margin of 9.91% and a positive return on equity of 5.02%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the firm posted $5.30 earnings per share. The company's revenue was up 2.1% compared to the same quarter last year. Jazz Pharmaceuticals has set its FY 2025 guidance at 4.800-5.600 EPS. Research analysts forecast that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on JAZZ. Zacks Research raised Jazz Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Robert W. Baird lowered their price objective on shares of Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Royal Bank Of Canada increased their target price on shares of Jazz Pharmaceuticals from $145.00 to $151.00 and gave the stock an "outperform" rating in a report on Thursday. Piper Sandler reaffirmed an "overweight" rating and set a $147.00 price objective (down from $176.00) on shares of Jazz Pharmaceuticals in a report on Wednesday, May 7th. Finally, Truist Financial lifted their price objective on shares of Jazz Pharmaceuticals from $200.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday. Fourteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Jazz Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $178.67.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.