Jazz Pharmaceuticals PLC $JAZZ Stock: Sowell Financial Services LLC Raises Stake

Key Points

• Sowell Financial Services increased its Jazz Pharmaceuticals stake by 501.1% in the third quarter, bringing its holdings to 13,458 shares valued at approximately $3.12 million. Institutional investors collectively own 89.14% of the company.
• Jazz Pharmaceuticals reported quarterly revenue of $1.21 billion, up 15.5% year over year and above expectations, but earnings of $5.71 per share missed the $6.18 consensus estimate.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $290.85; however, insiders sold roughly $24.86 million in stock over the past three months.

Sowell Financial Services LLC lifted its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 501.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,458 shares of the specialty pharmaceutical company's stock after acquiring an additional 11,219 shares during the quarter. Sowell Financial Services LLC's holdings in Jazz Pharmaceuticals were worth $3,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in shares of Jazz Pharmaceuticals by 40.2% in the third quarter. Nisa Investment Advisors LLC now owns 548 shares of the specialty pharmaceutical company's stock valued at $127,000 after purchasing an additional 157 shares during the period. Diversify Advisory Services LLC grew its stake in Jazz Pharmaceuticals by 14.2% in the third quarter. Diversify Advisory Services LLC now owns 1,097 shares of the specialty pharmaceutical company's stock worth $235,000 after purchasing an additional 136 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in Jazz Pharmaceuticals by 24.3% during the 3rd quarter. CWA Asset Management Group LLC now owns 24,384 shares of the specialty pharmaceutical company's stock worth $5,645,000 after purchasing an additional 4,765 shares during the period. USA Financial Formulas purchased a new position in Jazz Pharmaceuticals during the 3rd quarter worth $194,000. Finally, Aspiriant LLC purchased a new position in Jazz Pharmaceuticals during the 3rd quarter worth $202,000. Institutional investors own 89.14% of the company's stock.

Insider Buying and Selling

In other news, EVP Neena Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $240.94, for a total value of $289,128.00. Following the transaction, the executive vice president directly owned 47,671 shares in the company, valued at approximately $11,485,850.74. This trade represents a 2.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Robert Iannone sold 76,921 shares of the business's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $249.70, for a total value of $19,207,173.70. Following the completion of the transaction, the executive vice president directly owned 65,686 shares of the company's stock, valued at approximately $16,401,794.20. The trade was a 53.94% decrease in their ownership of the stock. 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 100,121 shares of company stock worth $24,855,802 in the last three months. Corporate insiders own 4.10% of the company's stock.

Jazz Pharmaceuticals Price Performance

Shares of JAZZ opened at $211.97 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.58 and a current ratio of 1.78. The company has a 50 day moving average price of $237.36 and a 200-day moving average price of $232.77. Jazz Pharmaceuticals PLC has a fifty-two week low of $128.80 and a fifty-two week high of $266.38. The stock has a market capitalization of $13.76 billion, a PE ratio of 14.62, a PEG ratio of 0.22 and a beta of 0.37.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.11 billion. Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The business's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($8.25) earnings per share. Equities analysts predict that Jazz Pharmaceuticals PLC will post 21.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on JAZZ. Truist Financial lifted their target price on Jazz Pharmaceuticals from $281.00 to $286.00 and gave the company a "buy" rating in a research report on Wednesday, October 7th. Royal Bank Of Canada dropped their price target on Jazz Pharmaceuticals from $299.00 to $296.00 and set an "outperform" rating on the stock in a research report on Thursday, October 8th. Piper Sandler increased their price target on Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. The Goldman Sachs Group assumed coverage on Jazz Pharmaceuticals in a research note on Thursday, September 24th. They set a "buy" rating and a $337.00 price target on the stock. Finally, Canaccord Genuity Group set a $300.00 price objective on Jazz Pharmaceuticals in a report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $290.85.

Jazz Pharmaceuticals 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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