Vestcor Inc Invests $601,000 in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Key Points

• Vestcor Inc invested approximately $601,000 in a new position of 4,839 shares of Jazz Pharmaceuticals PLC during the first quarter.
• Jazz Pharmaceuticals reported earnings of $1.68 per share for the quarter, significantly missing the consensus estimate of $4.65 by $2.97.
• Institutional investors currently own 89.14% of Jazz Pharmaceuticals' stock, with several hedge funds recently increasing their stakes in the company.

Vestcor Inc bought a new position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,839 shares of the specialty pharmaceutical company's stock, valued at approximately $601,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quadrant Capital Group LLC increased its stake in Jazz Pharmaceuticals by 97.1% in the fourth quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company's stock valued at $25,000 after purchasing an additional 101 shares during the last quarter. Hurley Capital LLC purchased a new stake in shares of Jazz Pharmaceuticals during the 1st quarter worth approximately $25,000. Elequin Capital LP boosted its holdings 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 valued at $26,000 after buying an additional 183 shares in the last quarter. Parallel Advisors LLC boosted its holdings 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 valued at $32,000 after buying an additional 119 shares in the last quarter. Finally, Picton Mahoney Asset Management grew 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 valued at $34,000 after buying an additional 269 shares during the last quarter. Institutional investors and hedge funds own 89.14% of the company's stock.

Jazz Pharmaceuticals Stock Up 0.8%

Shares of Jazz Pharmaceuticals stock opened at $115.52 on Friday. Jazz Pharmaceuticals PLC has a one year low of $95.49 and a one year high of $148.06. The company has a market cap of $6.99 billion, a P/E ratio of 15.40, a PEG ratio of 5.56 and a beta of 0.34. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.97 and a current ratio of 3.38. The firm has a fifty day moving average of $110.92 and a two-hundred day moving average of $117.85.

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

Insider Activity at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 1,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was 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. This trade represents a 0.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Seamus Mulligan purchased 1,621 shares of the stock in a transaction dated Monday, May 12th. The shares were bought at an average cost of $103.00 per share, for a total transaction of $166,963.00. Following the completion of the purchase, the director owned 101,621 shares in the company, valued at approximately $10,466,963. This trade represents a 1.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on JAZZ shares. Royal Bank Of Canada reduced their price target 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 reiterated a "buy" rating and set a $202.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, June 11th. Piper Sandler reissued an "overweight" rating and issued a $147.00 target price (down from $176.00) on shares of Jazz Pharmaceuticals in a report on Wednesday, May 7th. Morgan Stanley dropped their price target on Jazz Pharmaceuticals from $166.00 to $165.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 22nd. Finally, Wall Street Zen lowered Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $181.64.

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.

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