Nuveen LLC Takes Position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Key Points

• Nuveen LLC has acquired a new stake in Jazz Pharmaceuticals, purchasing 502,310 shares valued at approximately $62.36 million, amounting to about 0.82% ownership.
• Jazz Pharmaceuticals reported a loss of $8.25 EPS for the last quarter, missing estimates, while revenue was $1.05 billion, showing a 2.1% year-over-year increase.
• The company's stock has a market cap of $7.10 billion, with a current price at $117.12, and analysts have set a consensus target price of $181.43 for the stock.

Nuveen LLC purchased a new stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 502,310 shares of the specialty pharmaceutical company's stock, valued at approximately $62,362,000. Nuveen LLC owned about 0.82% of Jazz Pharmaceuticals at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Hurley Capital LLC bought a new stake in shares of Jazz Pharmaceuticals during the first quarter valued at approximately $25,000. Elequin Capital LP increased its stake in shares of Jazz Pharmaceuticals by 677.8% during the fourth quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company's stock valued at $26,000 after acquiring an additional 183 shares during the period. Parallel Advisors LLC increased its stake in shares of Jazz Pharmaceuticals by 85.6% during the first quarter. Parallel Advisors LLC now owns 258 shares of the specialty pharmaceutical company's stock valued at $32,000 after acquiring an additional 119 shares during the period. Spire Wealth Management increased its stake in shares of Jazz Pharmaceuticals by 137.6% during the first quarter. Spire Wealth Management now owns 278 shares of the specialty pharmaceutical company's stock valued at $35,000 after acquiring an additional 161 shares during the period. Finally, Picton Mahoney Asset Management increased its stake in shares of Jazz Pharmaceuticals by 2,445.5% during the first quarter. Picton Mahoney Asset Management now owns 280 shares of the specialty pharmaceutical company's stock valued at $34,000 after acquiring an additional 269 shares during the period. Institutional investors own 89.14% of the company's stock.

Jazz Pharmaceuticals Trading Up 3.3%

Jazz Pharmaceuticals stock opened at $117.12 on Thursday. The company's fifty day simple moving average is $111.54 and its 200-day simple moving average is $117.36. The company has a quick ratio of 1.37, a current ratio of 1.62 and a debt-to-equity ratio of 1.17. Jazz Pharmaceuticals PLC has a 12 month low of $95.49 and a 12 month high of $148.06. The stock has a market cap of $7.10 billion, a P/E ratio of -17.40, a P/E/G ratio of 7.29 and a beta of 0.34.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The specialty pharmaceutical company reported ($8.25) EPS for the quarter, missing the consensus estimate of ($5.61) by ($2.64). Jazz Pharmaceuticals had a negative net margin of 9.91% and a positive return on equity of 5.02%. The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $5.30 earnings per share. The company's revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current fiscal year.

Insider Activity

In related news, CEO Bruce C. Cozadd sold 1,000 shares of Jazz Pharmaceuticals stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $107.63, for a total value of $107,630.00. Following the completion of the sale, the chief executive officer owned 436,973 shares of the company's stock, valued at approximately $47,031,403.99. The trade was a 0.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of Jazz Pharmaceuticals from $165.00 to $162.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Piper Sandler reiterated an "overweight" rating and set a $147.00 price objective (down previously from $176.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Robert W. Baird lowered their price objective on shares of Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada decreased their price target on shares of Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $181.43.

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.

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