LSV Asset Management Lowers Holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Key Points

• LSV Asset Management reduced its stake in Jazz Pharmaceuticals by 2.6%, selling 64,884 shares to hold 2,466,166 shares, representing approximately 0.7% of its total holdings.
• A number of other hedge funds, such as Dimensional Fund Advisors and Ameriprise Financial, have increased their stakes in Jazz Pharmaceuticals, with ownership by institutional investors at 89.14%.
• Jazz Pharmaceuticals faced a disappointing quarterly earnings report, missing EPS estimates at $1.68, which is significantly lower than the projected $4.65, along with a 0.5% decline in revenue compared to the same year-ago quarter.

LSV Asset Management lowered its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,466,166 shares of the specialty pharmaceutical company's stock after selling 64,884 shares during the period. Jazz Pharmaceuticals accounts for approximately 0.7% of LSV Asset Management's holdings, making the stock its 27th biggest holding. LSV Asset Management owned 4.00% of Jazz Pharmaceuticals worth $306,175,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Quadrant Capital Group LLC lifted its position in Jazz Pharmaceuticals by 97.1% during the fourth quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company's stock valued at $25,000 after buying an additional 101 shares during the period. Hurley Capital LLC purchased a new position in shares of Jazz Pharmaceuticals in the 1st quarter worth about $25,000. Elequin Capital LP raised its position in shares of Jazz Pharmaceuticals by 677.8% in the 4th quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company's stock worth $26,000 after purchasing an additional 183 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Jazz Pharmaceuticals by 85.6% in the 1st quarter. Parallel Advisors LLC now owns 258 shares of the specialty pharmaceutical company's stock worth $32,000 after purchasing an additional 119 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its position in shares of Jazz Pharmaceuticals by 2,445.5% in the 1st quarter. Picton Mahoney Asset Management now owns 280 shares of the specialty pharmaceutical company's stock worth $34,000 after purchasing an additional 269 shares during the last quarter. Institutional investors own 89.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on JAZZ. Deutsche Bank Aktiengesellschaft began coverage on Jazz Pharmaceuticals in a research report on Tuesday, July 15th. They issued a "buy" rating and a $152.00 price target for the company. Piper Sandler reaffirmed an "overweight" rating and issued a $147.00 price target (down previously from $176.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $202.00 price target on shares of Jazz Pharmaceuticals in a research report on Wednesday, June 11th. Morgan Stanley lowered their price target on Jazz Pharmaceuticals from $166.00 to $165.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Finally, Royal Bank Of Canada decreased their target price on Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.64.

Jazz Pharmaceuticals Stock Performance

Shares of Jazz Pharmaceuticals stock traded up $0.89 during trading hours on Friday, reaching $115.52. 598,949 shares of the stock traded hands, compared to its average volume of 612,609. The company has a 50 day moving average price of $110.92 and a 200 day moving average price of $117.81. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 5.56 and a beta of 0.34. Jazz Pharmaceuticals PLC has a one year low of $95.49 and a one year high of $148.06. The company has a quick ratio of 2.97, a current ratio of 3.38 and a debt-to-equity ratio of 1.28.

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

Insider Buying and Selling

In related news, CEO Bruce C. Cozadd sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $107.63, for a total transaction 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. The trade was a 0.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Seamus Mulligan acquired 100,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were 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 in the company, valued at $9,826,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 4.30% of the company's stock.

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.