Jazz Pharmaceuticals PLC $JAZZ Stock Sold by Simplify Asset Management Inc.

Key Points

• Simplify Asset Management reduced its Jazz Pharmaceuticals stake by 21.5% in the third quarter, selling 14,770 shares and retaining 53,790 shares valued at approximately $12.45 million. Institutional investors collectively own 89.14% of the company.
• Jazz Pharmaceuticals reported quarterly EPS of $5.71, below the $6.18 consensus estimate, while revenue reached $1.21 billion and grew 15.5% year over year.
• Wall Street remains bullish, with the stock carrying a consensus “Buy” rating and an average price target of $292.05, compared with a reported share price of $205.06.

Simplify Asset Management Inc. lessened its holdings in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 21.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,790 shares of the specialty pharmaceutical company's stock after selling 14,770 shares during the quarter. Jazz Pharmaceuticals makes up 0.2% of Simplify Asset Management Inc.'s investment portfolio, making the stock its 24th largest holding. Simplify Asset Management Inc.'s holdings in Jazz Pharmaceuticals were worth $12,453,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. USA Financial Formulas acquired a new stake in shares of Jazz Pharmaceuticals during the first quarter worth approximately $25,000. Pension & Wealth Management Advisors Inc. purchased a new position in Jazz Pharmaceuticals during the third quarter valued at approximately $32,000. Ameritas Advisory Services LLC purchased a new position in Jazz Pharmaceuticals during the second quarter valued at approximately $47,000. Westpac Banking Corp purchased a new position in Jazz Pharmaceuticals during the first quarter valued at approximately $51,000. Finally, Root Financial Partners LLC increased 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 during the period. Institutional investors and hedge funds own 89.14% of the company's stock.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ:JAZZ opened at $205.06 on Thursday. Jazz Pharmaceuticals PLC has a fifty-two week low of $128.80 and a fifty-two week high of $266.38. The business has a 50-day moving average of $233.50 and a two-hundred day moving average of $215.75. The stock has a market capitalization of $13.31 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.26 and a beta of 0.37. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.78 and a quick ratio of 1.58.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.18 by ($0.47). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%. The business's revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company posted ($8.25) EPS. On average, equities research analysts predict that Jazz Pharmaceuticals PLC will post 10.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JAZZ. Citigroup began coverage on shares of Jazz Pharmaceuticals in a research report on Wednesday, September 30th. They issued a "buy" rating and a $325.00 target price for the company. Wells Fargo & Company lifted their target price on shares of Jazz Pharmaceuticals from $285.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Needham & Company LLC upped their price target on shares of Jazz Pharmaceuticals from $292.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Royal Bank Of Canada cut their price objective on Jazz Pharmaceuticals from $299.00 to $296.00 and set an "outperform" rating for the company in a report on Thursday, October 8th. Finally, Stifel Nicolaus set a $275.00 price objective on Jazz Pharmaceuticals in a research report 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 given a Hold rating to the company. Based on data from MarketBeat.com, Jazz Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $292.05.

Insider Buying and Selling

In other Jazz Pharmaceuticals news, CEO Renee D. Gala sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $236.40, for a total transaction of $472,800.00. Following the transaction, the chief executive officer owned 141,394 shares in the company, valued at $33,425,541.60. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena M. Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $240.94, for a total transaction of $289,128.00. Following the completion of the transaction, the executive vice president directly owned 47,671 shares in the company, valued at approximately $11,485,850.74. This represents a 2.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 100,121 shares of company stock valued at $24,855,802 in the last quarter. Company insiders own 4.10% of the company's stock.

Jazz Pharmaceuticals Company Profile

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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