Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock: Insider Renee Gala Sells 2,000 Shares

Key Points

• CEO Renee Gala sold 2,000 Jazz Pharmaceuticals shares at an average price of $236.40, generating $472,800. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving her with 141,394 shares.
• JAZZ shares slipped 0.1% to $231.19, while the company’s latest quarterly results showed 15.5% year-over-year revenue growth to $1.21 billion but EPS of $5.71, below the $6.18 consensus estimate.
• Wall Street remains positive, with the stock carrying a consensus “Buy” rating and a $291.40 average price target versus its reported trading price. Institutional investors own approximately 89.14% of the company.

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Get Free Report) CEO Renee Gala sold 2,000 shares of the firm's stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $236.40, for a total transaction of $472,800.00. Following the completion of the transaction, the chief executive officer directly owned 141,394 shares of the company's stock, valued at approximately $33,425,541.60. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jazz Pharmaceuticals Stock Down 0.1%

NASDAQ:JAZZ traded down $0.20 on Wednesday, hitting $231.19. 578,903 shares of the company's stock were exchanged, compared to its average volume of 938,583. The firm has a 50-day moving average price of $246.17 and a 200-day moving average price of $230.45. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.78 and a quick ratio of 1.58. Jazz Pharmaceuticals PLC has a 52 week low of $128.80 and a 52 week high of $266.38. The company has a market cap of $15.01 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 0.21 and a beta of 0.37.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share for the quarter, missing the consensus estimate of $6.18 by ($0.47). The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. Jazz Pharmaceuticals's revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($8.25) EPS. As a group, analysts expect that Jazz Pharmaceuticals PLC will post 21.61 EPS for the current fiscal year.

Institutional Trading of Jazz Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of Jazz Pharmaceuticals by 164.0% during the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company's stock worth $309,215,000 after acquiring an additional 1,129,995 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Jazz Pharmaceuticals by 44.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company's stock valued at $317,485,000 after purchasing an additional 517,514 shares during the last quarter. Sofinnova Investments Inc. boosted its position in Jazz Pharmaceuticals by 63.0% during the fourth quarter. Sofinnova Investments Inc. now owns 959,860 shares of the specialty pharmaceutical company's stock worth $163,176,000 after purchasing an additional 371,032 shares during the period. Assenagon Asset Management S.A. bought a new position in Jazz Pharmaceuticals during the first quarter worth $60,496,000. Finally, Allianz Asset Management GmbH increased its holdings in shares of Jazz Pharmaceuticals by 68.2% in the fourth quarter. Allianz Asset Management GmbH now owns 598,832 shares of the specialty pharmaceutical company's stock valued at $101,801,000 after purchasing an additional 242,892 shares during the last quarter. Institutional investors own 89.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JAZZ. Canaccord Genuity Group set a $300.00 price target on Jazz Pharmaceuticals in a research report on Wednesday, August 26th. Piper Sandler raised their target price on shares of Jazz Pharmaceuticals from $301.00 to $310.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of Jazz Pharmaceuticals from a "hold (c-)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. UBS Group upped their price target on shares of Jazz Pharmaceuticals from $315.00 to $337.00 and gave the stock a "buy" rating in a research report on Friday, September 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Jazz Pharmaceuticals in a research note on Thursday, September 24th. They issued a "buy" rating and a $337.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $291.40.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing medicines for patients with serious neurological and oncology-related conditions. Founded in 2003 and headquartered in Dublin, Ireland, the company operates internationally, with a significant commercial presence in the United States and other markets.

Jazz's neuroscience portfolio includes Xywav and Xyrem, which contain oxybate and are used to treat narcolepsy-related symptoms; Xywav is also approved for idiopathic hypersomnia in adults.

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