Public Employees Retirement System of Ohio Buys Shares of 45,067 Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Public Employees Retirement System of Ohio acquired 45,067 Jazz Pharmaceuticals shares worth approximately $10.86 million, representing about 0.07% of the company. Hedge funds and institutional investors collectively own 89.14% of JAZZ.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of $285.44; several firms recently raised their targets to between $300 and $315.
• Jazz reported quarterly revenue of $1.21 billion, up 15.5% year over year and above estimates, though adjusted EPS of $5.71 missed consensus expectations of $6.18. The stock opened at $250.68, near its 12-month high of $266.38.

Public Employees Retirement System of Ohio purchased a new position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 45,067 shares of the specialty pharmaceutical company's stock, valued at approximately $10,860,000. Public Employees Retirement System of Ohio owned about 0.07% of Jazz Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of JAZZ. USA Financial Formulas acquired a new stake in Jazz Pharmaceuticals during the first quarter valued at $25,000. LRI Investments LLC purchased a new stake in shares of Jazz Pharmaceuticals during the 4th quarter worth about $38,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Jazz Pharmaceuticals during the 2nd quarter worth about $61,000. Westpac Banking Corp acquired a new stake in shares of Jazz Pharmaceuticals during the 1st quarter valued at about $51,000. Finally, Leonteq Securities AG acquired a new stake in shares of Jazz Pharmaceuticals during the 4th quarter valued at about $50,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mark Douglas Smith sold 1,157 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $230.55, for a total value of $266,746.35. Following the sale, the director directly owned 9,680 shares of the company's stock, valued at approximately $2,231,724. This trade represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce C. Cozadd sold 6,000 shares of Jazz Pharmaceuticals stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $252.98, for a total value of $1,517,880.00. Following the completion of the transaction, the director owned 360,682 shares in the company, valued at $91,245,332.36. The trade was a 1.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 91,278 shares of company stock worth $22,712,816 in the last 90 days. Insiders own 4.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on JAZZ shares. Needham & Company LLC lifted their target price on shares of Jazz Pharmaceuticals from $292.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Jazz Pharmaceuticals from $287.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, August 26th. UBS Group reiterated a "buy" rating and issued a $315.00 price objective on shares of Jazz Pharmaceuticals in a report on Tuesday, August 4th. TD Cowen increased their target price on shares of Jazz Pharmaceuticals from $275.00 to $300.00 and gave the stock a "buy" rating in a research report on Tuesday, August 4th. Finally, Bank of America increased their target price on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $285.44.

Jazz Pharmaceuticals Trading Up 2.5%

Shares of JAZZ stock opened at $250.68 on Tuesday. Jazz Pharmaceuticals PLC has a 12 month low of $123.88 and a 12 month high of $266.38. The company has a market cap of $16.27 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 0.22 and a beta of 0.32. The company has a quick ratio of 1.58, a current ratio of 1.78 and a debt-to-equity ratio of 0.69. The business's 50 day moving average is $247.80 and its two-hundred day moving average is $219.29.

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 for the quarter, missing analysts' consensus estimates of $6.18 by ($0.47). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%.Jazz Pharmaceuticals's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($8.25) earnings per share. Equities analysts predict that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current year.

Jazz Pharmaceuticals Profile

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company's research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz's product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.

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