Jazz Pharmaceuticals PLC $JAZZ Stock Holdings Increased by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio increased its Jazz Pharmaceuticals stake by 19% in the first quarter, holding 48,490 shares valued at approximately $9.2 million. Other major investors, including Goldman Sachs and Royal Bank of Canada, also significantly expanded their positions.
• Jazz Pharmaceuticals reported quarterly revenue of $1.07 billion and earnings of $6.34 per share, while analysts forecast full-year earnings of $21.90 per share. The stock opened at $255.43, near its 52-week high of $257.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $259.06. Recent targets range from $245 to $301, although company insiders sold 13,098 shares worth $3.13 million over the past 90 days.

Public Employees Retirement System of Ohio boosted its holdings in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 19.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,490 shares of the specialty pharmaceutical company's stock after purchasing an additional 7,744 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.08% of Jazz Pharmaceuticals worth $9,167,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in JAZZ. Royal Bank of Canada lifted its position in shares of Jazz Pharmaceuticals by 96.5% during the 1st quarter. Royal Bank of Canada now owns 67,614 shares of the specialty pharmaceutical company's stock valued at $8,394,000 after acquiring an additional 33,210 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Jazz Pharmaceuticals by 147.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company's stock worth $43,652,000 after acquiring an additional 209,667 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Jazz Pharmaceuticals by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,174 shares of the specialty pharmaceutical company's stock worth $24,479,000 after acquiring an additional 7,954 shares during the last quarter. Focus Partners Wealth raised its position in shares of Jazz Pharmaceuticals by 3.4% during the first quarter. Focus Partners Wealth now owns 4,623 shares of the specialty pharmaceutical company's stock worth $574,000 after purchasing an additional 154 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Jazz Pharmaceuticals by 57.6% during the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company's stock worth $47,000 after purchasing an additional 137 shares during the period. 89.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, Director Mark Douglas Smith sold 1,157 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $230.55, for a total value of $266,746.35. Following the transaction, the director directly owned 9,680 shares of the company's stock, valued at approximately $2,231,724. This represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heather Ann Mcsharry sold 2,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $241.00, for a total value of $482,000.00. Following the sale, the director owned 18,449 shares of the company's stock, valued at approximately $4,446,209. This represents a 9.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,098 shares of company stock worth $3,131,906 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Jazz Pharmaceuticals Stock Performance

JAZZ stock opened at $255.43 on Tuesday. The firm has a 50 day simple moving average of $237.89 and a 200 day simple moving average of $204.06. Jazz Pharmaceuticals PLC has a 52 week low of $105.00 and a 52 week high of $257.00. The stock has a market cap of $16.05 billion, a P/E ratio of -12,765.12, a P/E/G ratio of 0.22 and a beta of 0.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The firm had revenue of $1.07 billion for the quarter. Research analysts anticipate that Jazz Pharmaceuticals PLC will post 21.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

JAZZ has been the subject of a number of recent analyst reports. Truist Financial decreased their price target on Jazz Pharmaceuticals from $256.00 to $254.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $245.00 price objective on shares of Jazz Pharmaceuticals in a research note on Thursday, May 7th. Robert W. Baird set a $252.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Piper Sandler lifted their target price on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the stock an "overweight" rating in a research report on Friday, May 22nd. Finally, Wells Fargo & Company boosted their price target on shares of Jazz Pharmaceuticals from $265.00 to $285.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $259.06.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company's research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz's product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.

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