Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) Stock Holdings Lessened by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Jazz Pharmaceuticals by 24.9%, owning approximately 58,745 shares after selling 19,447 shares in the first quarter.
• Jazz Pharmaceuticals' stock ratings have seen mixed reviews, with 13 analysts giving a buy rating and a recent downgrade from "buy" to "hold" by Wall Street Zen.
• The company's earnings report showed EPS of $1.68, missing analysts' expectations, along with a 0.5% decline in revenue year-over-year, against a backdrop of a $7.10 billion market capitalization.

Allianz Asset Management GmbH trimmed its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 24.9% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 58,745 shares of the specialty pharmaceutical company's stock after selling 19,447 shares during the quarter. Allianz Asset Management GmbH owned about 0.10% of Jazz Pharmaceuticals worth $7,293,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in JAZZ. Versant Capital Management Inc grew its position in shares of Jazz Pharmaceuticals by 9.4% during the 1st quarter. Versant Capital Management Inc now owns 1,058 shares of the specialty pharmaceutical company's stock worth $131,000 after buying an additional 91 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Jazz Pharmaceuticals by 0.3% during the 4th 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 in the last quarter. Kendall Capital Management grew its position in shares of Jazz Pharmaceuticals by 1.2% during the 1st 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 in the last quarter. Synovus Financial Corp grew its position in shares of Jazz Pharmaceuticals by 0.5% during the 4th 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 in the last quarter. Finally, Quarry LP grew its position in shares of Jazz Pharmaceuticals by 6.3% during the 4th quarter. Quarry LP now owns 1,700 shares of the specialty pharmaceutical company's stock worth $209,000 after buying an additional 100 shares in the last quarter. 89.14% of the stock is currently owned by institutional investors.

Jazz Pharmaceuticals Price Performance

NASDAQ:JAZZ traded down $0.52 during trading hours on Thursday, reaching $115.60. 87,855 shares of the company traded hands, compared to its average volume of 956,216. Jazz Pharmaceuticals PLC has a 1-year low of $95.49 and a 1-year high of $148.06. The firm's 50-day moving average is $110.64 and its 200-day moving average is $117.99. The company has a debt-to-equity ratio of 1.28, a current ratio of 3.38 and a quick ratio of 2.97. The stock has a market cap of $7.00 billion, a P/E ratio of 15.41, a P/E/G ratio of 5.61 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its earnings results 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). Jazz Pharmaceuticals had a net margin of 11.86% and a return on equity of 26.62%. The firm had revenue of $897.84 million during the quarter, compared to analyst estimates of $984.16 million. During the same quarter in the previous year, the business posted $2.68 EPS. Jazz Pharmaceuticals's revenue was down .5% compared to the same quarter last year. Equities research analysts expect that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In related news, CEO Bruce C. Cozadd sold 1,000 shares of Jazz Pharmaceuticals stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $107.63, for a total value of $107,630.00. Following the completion of the transaction, the chief executive officer directly owned 436,973 shares in the company, valued at approximately $47,031,403.99. This trade represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Seamus Mulligan bought 100,000 shares of the firm's stock in a transaction on Friday, May 9th. The stock was bought at an average price of $98.26 per share, with a total value of $9,826,000.00. Following the completion of the purchase, the director owned 100,000 shares of the company's stock, valued at $9,826,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Robert W. Baird decreased their price target on Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Needham & Company LLC reissued a "buy" rating and issued a $202.00 price objective on shares of Jazz Pharmaceuticals in a report on Wednesday, June 11th. Royal Bank Of Canada lowered their price target on Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Jazz Pharmaceuticals in a research note on Tuesday, July 15th. They issued a "buy" rating and a $152.00 price target on the stock. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $181.64.

Jazz Pharmaceuticals Profile

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.