Vanguard Group Inc. Decreases Stock Holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Key Points

• Vanguard Group Inc. reduced its stake in Jazz Pharmaceuticals by 0.3%, holding approximately 6 million shares valued at about $747 million, indicating continued investment interest despite a minor reduction.
• Jazz Pharmaceuticals reported earnings per share (EPS) of ($8.25) for the last quarter, missing analysts' estimates and showing a decline from the previous year's EPS of $5.30.
• Despite recent challenges, Jazz Pharmaceuticals has a market capitalization of $6.87 billion and a significant portion of its stock (89.14%) is held by institutional investors and hedge funds.

Vanguard Group Inc. decreased its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,017,403 shares of the specialty pharmaceutical company's stock after selling 18,780 shares during the quarter. Vanguard Group Inc. owned approximately 9.76% of Jazz Pharmaceuticals worth $747,061,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hurley Capital LLC bought a new position in Jazz Pharmaceuticals during the first quarter valued at about $25,000. Elequin Capital LP boosted its position in Jazz Pharmaceuticals by 677.8% during the fourth 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 period. Parallel Advisors LLC boosted its position in Jazz Pharmaceuticals by 85.6% during the first 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 period. Picton Mahoney Asset Management boosted its position in 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 worth $34,000 after purchasing an additional 269 shares during the period. Finally, Spire Wealth Management boosted its position in Jazz Pharmaceuticals by 137.6% during the first quarter. Spire Wealth Management now owns 278 shares of the specialty pharmaceutical company's stock worth $35,000 after purchasing an additional 161 shares during the period. Institutional investors own 89.14% of the company's stock.

Analyst Upgrades and Downgrades

JAZZ has been the subject of a number of research reports. Piper Sandler reiterated an "overweight" rating and set a $147.00 target price (down previously from $176.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 7th. Royal Bank Of Canada cut 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 report on Wednesday, May 7th. Needham & Company LLC restated a "buy" rating and issued a $202.00 price objective on shares of Jazz Pharmaceuticals in a research report on Wednesday, June 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Jazz Pharmaceuticals in a research report on Tuesday, July 15th. They issued a "buy" rating and a $152.00 price objective for the company. Finally, Robert W. Baird cut their price objective on shares of Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $181.43.

Insider Activity at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 1,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 436,973 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.30% of the company's stock.

Jazz Pharmaceuticals Price Performance

NASDAQ:JAZZ traded up $1.10 during midday trading on Friday, hitting $117.77. The company had a trading volume of 490,600 shares, compared to its average volume of 808,948. Jazz Pharmaceuticals PLC has a 52-week low of $95.49 and a 52-week high of $148.06. The stock's fifty day moving average price is $111.83 and its 200-day moving average price is $117.22. The company has a market capitalization of $7.14 billion, a PE ratio of -17.50, a P/E/G ratio of 7.97 and a beta of 0.34. 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 (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). The business had revenue of $1.05 billion for 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 company's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $5.30 earnings per share. As a group, research analysts expect that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current 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.