Wedge Capital Management L L P NC Sells 33,467 Shares of Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Wedge Capital Management reduced its Jazz Pharmaceuticals stake by 20.9%, selling 33,467 shares and retaining 126,539 shares worth approximately $30.5 million. Institutional investors collectively own 89.14% of the company.
• Jazz Pharmaceuticals reported quarterly EPS of $5.71, below the $6.18 consensus estimate, while revenue of $1.21 billion exceeded expectations and rose 15.5% year over year. The stock was down 3.3% and opened at $247.98.
• Analysts remain broadly positive, with an overall “Moderate Buy” rating and an average price target of $272.89; recent targets range from $270 to $315. Insiders have sold 19,098 shares worth about $4.65 million over the past three months.

Wedge Capital Management L L P NC cut its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 20.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,539 shares of the specialty pharmaceutical company's stock after selling 33,467 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.20% of Jazz Pharmaceuticals worth $30,492,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arista Wealth Management LLC purchased a new stake in shares of Jazz Pharmaceuticals in the 2nd quarter worth approximately $241,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Jazz Pharmaceuticals in the second quarter worth approximately $61,000. GAMMA Investing LLC lifted its holdings in Jazz Pharmaceuticals by 18.8% during the second quarter. GAMMA Investing LLC now owns 1,407 shares of the specialty pharmaceutical company's stock worth $339,000 after buying an additional 223 shares during the period. Harbor Investment Advisory LLC boosted its position in Jazz Pharmaceuticals by 349.2% during the 2nd quarter. Harbor Investment Advisory LLC now owns 292 shares of the specialty pharmaceutical company's stock valued at $70,000 after acquiring an additional 227 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Jazz Pharmaceuticals by 14.9% in the 2nd quarter. Versant Capital Management Inc now owns 2,357 shares of the specialty pharmaceutical company's stock worth $568,000 after acquiring an additional 305 shares in the last quarter. 89.14% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Mark Douglas Smith sold 1,157 shares of the firm's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $230.55, for a total transaction of $266,746.35. Following the completion of the transaction, the director owned 9,680 shares of the company's stock, valued at $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 is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heather Ann Mcsharry sold 2,000 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $241.00, for a total transaction of $482,000.00. Following the transaction, the director owned 18,449 shares of the company's stock, valued at $4,446,209. This represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 19,098 shares of company stock valued at $4,649,786. 4.10% of the stock is owned by insiders.

Jazz Pharmaceuticals Stock Down 3.3%

NASDAQ:JAZZ opened at $247.98 on Wednesday. The company has a market cap of $16.10 billion, a PE ratio of 17.10, a P/E/G ratio of 0.23 and a beta of 0.32. Jazz Pharmaceuticals PLC has a twelve month low of $110.26 and a twelve month high of $265.05. The company has a current ratio of 1.78, a quick ratio of 1.58 and a debt-to-equity ratio of 0.69. The company's 50 day moving average is $242.20 and its two-hundred day moving average is $210.98.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 EPS for the quarter, missing the consensus estimate of $6.18 by ($0.47). The company had revenue of $1.21 billion for 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%.The company's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($8.25) earnings per share. Analysts anticipate that Jazz Pharmaceuticals PLC will post 21.62 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on JAZZ. Barclays lifted their target price on Jazz Pharmaceuticals from $260.00 to $270.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $287.00 price objective on shares of Jazz Pharmaceuticals in a research report on Tuesday, August 4th. Piper Sandler boosted their price objective on shares of Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th. Canaccord Genuity Group started coverage on shares of Jazz Pharmaceuticals in a research note on Thursday, July 16th. They issued a "buy" rating and a $290.00 target price for the company. Finally, UBS Group reaffirmed a "buy" rating and set a $315.00 price target on shares of Jazz Pharmaceuticals in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $272.89.

More Jazz Pharmaceuticals News

Here are the key news stories impacting Jazz Pharmaceuticals this week:

• Positive Sentiment: Jazz will acquire Actio for $820 million upfront, with up to $500 million in additional contingent payments. The deal adds ABS-1230, a clinical-stage precision therapy targeting KCNT1-positive epilepsy, a rare inherited condition with no approved treatments. The acquisition reinforces Jazz’s existing neuroscience strategy and could provide a valuable future growth asset if the drug succeeds in clinical development. Jazz Pharmaceuticals to Acquire Actio Biosciences, Expanding Rare Epilepsy Portfolio
• Positive Sentiment: Analysts at RBC described the Actio acquisition as strategically sensible, citing strong synergies with Jazz’s rare-disease capabilities, development expertise and commercial infrastructure. The transaction could diversify Jazz’s pipeline beyond currently marketed therapies and strengthen its position in epilepsy. Jazz Pharmaceuticals' Actio Acquisition Makes Sense, Has Good Synergy, RBC Says
• Neutral Sentiment: Reported short interest was listed at zero shares, with a zero-day short-interest ratio. Because the data shows no measurable short position and includes an invalid percentage-change calculation, it provides little useful information about current trading sentiment. Jazz Pharmaceuticals Short Interest Data
• Negative Sentiment: The acquisition requires a substantial upfront cash commitment for an experimental, clinical-stage asset, while the full value could reach $1.32 billion. Investors face clinical-development, regulatory and commercialization risks, and ABS-1230 may not generate near-term revenue. Those risks appear to be offsetting enthusiasm about the strategic fit and contributing to the stock’s weaker performance. Jazz Bets on Epilepsy Treatment With Up to $1.32 Billion Deal for Actio

Jazz Pharmaceuticals Company 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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