Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in Jazz Pharmaceuticals PLC by 649.5% in Q1, owning 199,204 shares valued at approximately $24.73 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Jazz Pharmaceuticals, with an average price target of $181.64.
• Jazz Pharmaceuticals recently reported a quarterly earnings miss, with $1.68 EPS compared to an estimated $4.65 EPS, and a year-over-year revenue decline of 0.5%.

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 649.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 199,204 shares of the specialty pharmaceutical company's stock after acquiring an additional 172,626 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.32% of Jazz Pharmaceuticals worth $24,731,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JAZZ. Versant Capital Management Inc raised its stake in 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 valued at $131,000 after buying an additional 91 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Jazz Pharmaceuticals by 0.3% during the fourth quarter. Bessemer Group Inc. now owns 26,932 shares of the specialty pharmaceutical company's stock worth $3,317,000 after buying an additional 92 shares during the last quarter. Kendall Capital Management grew its holdings in shares of Jazz Pharmaceuticals by 1.2% during the first quarter. Kendall Capital Management now owns 7,964 shares of the specialty pharmaceutical company's stock worth $989,000 after buying an additional 95 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Jazz Pharmaceuticals by 0.5% during the fourth quarter. Synovus Financial Corp now owns 19,206 shares of the specialty pharmaceutical company's stock worth $2,365,000 after buying an additional 100 shares during the last quarter. Finally, Quarry LP boosted its holdings in Jazz Pharmaceuticals by 6.3% in the 4th quarter. Quarry LP now owns 1,700 shares of the specialty pharmaceutical company's stock valued at $209,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company's stock.

Insider Transactions at Jazz Pharmaceuticals

In related news, Director Seamus Mulligan bought 1,621 shares of the business's stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of $103.00 per share, for a total transaction of $166,963.00. Following the purchase, the director owned 101,621 shares in the company, valued at $10,466,963. This trade represents a 1.62% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bruce C. Cozadd sold 1,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $107.63, for a total transaction of $107,630.00. Following the sale, the chief executive officer owned 436,973 shares in the company, valued at approximately $47,031,403.99. This trade represents a 0.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada lowered their price objective on Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen downgraded Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft initiated coverage on Jazz Pharmaceuticals in a report on Tuesday, July 15th. They issued a "buy" rating and a $152.00 price target for the company. Robert W. Baird cut their price target on Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Morgan Stanley dropped their price objective on Jazz Pharmaceuticals from $166.00 to $165.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $181.64.

Jazz Pharmaceuticals Stock Up 0.2%

NASDAQ:JAZZ traded up $0.22 on Friday, reaching $114.85. The stock had a trading volume of 209,400 shares, compared to its average volume of 954,055. The company has a current ratio of 3.38, a quick ratio of 2.97 and a debt-to-equity ratio of 1.28. The company has a 50-day moving average of $110.64 and a 200 day moving average of $117.99. The stock has a market cap of $6.95 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 5.59 and a beta of 0.32. Jazz Pharmaceuticals PLC has a 12-month low of $95.49 and a 12-month high of $148.06.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 earnings per share for the quarter, missing analysts' consensus estimates of $4.65 by ($2.97). The firm had revenue of $897.84 million during the quarter, compared to analysts' expectations of $984.16 million. Jazz Pharmaceuticals had a net margin of 11.86% and a return on equity of 26.62%. The business's quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $2.68 earnings per share. On average, research analysts predict that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current year.

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.