Jazz Pharmaceuticals PLC $JAZZ Stock Purchased by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings increased its Jazz Pharmaceuticals stake by 64.6% in the third quarter, acquiring 4,675 additional shares for a total holding of 11,912 shares valued at approximately $2.76 million. Institutional investors and hedge funds own 89.14% of JAZZ.
• Analyst sentiment remains positive, with an average rating of “Buy” and a consensus price target of $290.85. Recent firms including Goldman Sachs, UBS, TD Cowen and Piper Sandler issued or maintained bullish ratings.
• Jazz Pharmaceuticals reported quarterly revenue of $1.21 billion, up 15.5% year over year and above expectations, though adjusted EPS of $5.71 missed the $6.18 consensus estimate. The stock opened at $214.00, down 0.3%, and insiders sold more than $24.8 million of shares during the last quarter.

Crossmark Global Holdings Inc. increased its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 64.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,912 shares of the specialty pharmaceutical company's stock after acquiring an additional 4,675 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Jazz Pharmaceuticals were worth $2,758,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in JAZZ. Triumph Capital Management increased its stake in shares of Jazz Pharmaceuticals by 2.0% during the second quarter. Triumph Capital Management now owns 2,597 shares of the specialty pharmaceutical company's stock worth $626,000 after purchasing an additional 52 shares in the last quarter. Bessemer Group Inc. lifted its stake in Jazz Pharmaceuticals by 0.3% in the 1st quarter. Bessemer Group Inc. now owns 22,362 shares of the specialty pharmaceutical company's stock valued at $4,228,000 after buying an additional 73 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in Jazz Pharmaceuticals by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,996 shares of the specialty pharmaceutical company's stock valued at $377,000 after buying an additional 85 shares in the last quarter. Root Financial Partners LLC lifted its stake in Jazz Pharmaceuticals by 42.8% in the 1st quarter. Root Financial Partners LLC now owns 297 shares of the specialty pharmaceutical company's stock valued at $56,000 after buying an additional 89 shares in the last quarter. Finally, Syon Capital LLC boosted its holdings in Jazz Pharmaceuticals by 7.4% in the 2nd quarter. Syon Capital LLC now owns 1,507 shares of the specialty pharmaceutical company's stock worth $363,000 after buying an additional 104 shares during the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JAZZ. The Goldman Sachs Group started coverage on Jazz Pharmaceuticals in a research note on Thursday, September 24th. They issued a "buy" rating and a $337.00 price target on the stock. Morgan Stanley dropped their price target on Jazz Pharmaceuticals from $322.00 to $314.00 and set an "overweight" rating for the company in a research report on Wednesday. TD Cowen increased their price objective on Jazz Pharmaceuticals from $275.00 to $300.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. UBS Group raised their price objective on Jazz Pharmaceuticals from $315.00 to $337.00 and gave the company a "buy" rating in a report on Friday, September 11th. Finally, Piper Sandler lifted their target price on shares of Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of "Buy" and a consensus target price of $290.85.

Jazz Pharmaceuticals Trading Down 0.3%

Shares of Jazz Pharmaceuticals stock opened at $214.00 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.78 and a quick ratio of 1.58. The stock's 50 day simple moving average is $236.11 and its 200-day simple moving average is $232.83. The stock has a market cap of $13.89 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.22 and a beta of 0.37. Jazz Pharmaceuticals PLC has a 1-year low of $128.80 and a 1-year high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 EPS for the quarter, missing analysts' consensus estimates of $6.18 by ($0.47). The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.11 billion. Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%. The business's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($8.25) EPS. Analysts predict that Jazz Pharmaceuticals PLC will post 18.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Neena Patil sold 1,200 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $240.94, for a total transaction of $289,128.00. Following the transaction, the executive vice president owned 47,671 shares of the company's stock, valued at approximately $11,485,850.74. The trade was a 2.46% decrease in their position. The sale 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, EVP Robert Iannone sold 76,921 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $249.70, for a total transaction of $19,207,173.70. Following the completion of the sale, the executive vice president directly owned 65,686 shares of the company's stock, valued at $16,401,794.20. This represents a 53.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,121 shares of company stock worth $24,855,802 in the last quarter. 4.10% of the stock is currently owned by insiders.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing medicines for neurological, sleep-related and oncology disorders. The company serves patients and healthcare providers in the United States and international markets, with products marketed through its commercial operations and partnerships.

Jazz's sleep portfolio includes Xyrem and Xywav, which are used to treat certain symptoms associated with narcolepsy. Following its acquisition of GW Pharmaceuticals, the company also added Epidiolex, a cannabidiol-based treatment for specific forms of treatment-resistant epilepsy.

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