Jazz Pharmaceuticals PLC $JAZZ Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its stake in Jazz Pharmaceuticals by 3.6%, now holding approximately 111,300 shares worth $13.82 million.
• Several institutional investors have been active, with new positions and stakes, while institutional investors now own 89.14% of the company's stock.
• Jazz Pharmaceuticals reported a loss of ($8.25) earnings per share for the last quarter, missing estimates and showing a slight year-over-year revenue increase of 2.1% to $1.05 billion.

Swiss National Bank cut its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,300 shares of the specialty pharmaceutical company's stock after selling 4,100 shares during the period. Swiss National Bank owned approximately 0.18% of Jazz Pharmaceuticals worth $13,818,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in JAZZ. Envestnet Asset Management Inc. increased its holdings in Jazz Pharmaceuticals by 36.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 90,742 shares of the specialty pharmaceutical company's stock valued at $11,175,000 after buying an additional 24,443 shares in the last quarter. Townsquare Capital LLC increased its holdings in Jazz Pharmaceuticals by 79.5% in the fourth quarter. Townsquare Capital LLC now owns 3,540 shares of the specialty pharmaceutical company's stock valued at $436,000 after buying an additional 1,568 shares in the last quarter. Barclays PLC increased its holdings in Jazz Pharmaceuticals by 70.2% in the fourth quarter. Barclays PLC now owns 66,728 shares of the specialty pharmaceutical company's stock valued at $8,216,000 after buying an additional 27,518 shares in the last quarter. Mariner LLC increased its holdings in Jazz Pharmaceuticals by 33.9% in the fourth quarter. Mariner LLC now owns 26,803 shares of the specialty pharmaceutical company's stock valued at $3,301,000 after buying an additional 6,782 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Jazz Pharmaceuticals by 7.1% in the fourth quarter. Evergreen Capital Management LLC now owns 4,097 shares of the specialty pharmaceutical company's stock valued at $505,000 after buying an additional 273 shares in the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Bruce C. Cozadd sold 1,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $107.63, for a total transaction of $107,630.00. Following the completion of the sale, the chief executive officer directly owned 436,973 shares of the company's stock, valued at $47,031,403.99. The trade was a 0.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Morgan Stanley dropped their target price on shares of Jazz Pharmaceuticals from $165.00 to $162.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Piper Sandler reissued an "overweight" rating and set a $147.00 price objective (down from $176.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 7th. Needham & Company LLC reissued a "buy" rating and set a $202.00 price objective on shares of Jazz Pharmaceuticals in a research note on Wednesday, June 11th. Royal Bank Of Canada dropped their price objective on shares of Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Jazz Pharmaceuticals in a research note on Tuesday, July 15th. They set a "buy" rating and a $152.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $181.43.

Jazz Pharmaceuticals Trading Up 0.7%

JAZZ stock traded up $0.83 during midday trading on Monday, hitting $118.60. The stock had a trading volume of 254,130 shares, compared to its average volume of 959,367. The firm has a market cap of $7.19 billion, a PE ratio of -17.62, a price-to-earnings-growth ratio of 7.42 and a beta of 0.34. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.62 and a quick ratio of 1.37. Jazz Pharmaceuticals PLC has a 12-month low of $95.49 and a 12-month high of $148.06. The company's 50-day moving average price is $111.83 and its 200 day moving average price is $117.17.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its 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). The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.05 billion. Jazz Pharmaceuticals had a positive return on equity of 5.02% and a negative net margin of 9.91%. The firm's revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.30 earnings per share. On average, equities research analysts predict that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current fiscal year.

Jazz Pharmaceuticals Company 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.