Insider Selling: Jazz Pharmaceuticals (NASDAQ:JAZZ) CEO Sells $486,060.00 in Stock

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) CEO Renee Gala sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $243.03, for a total transaction of $486,060.00. Following the sale, the chief executive officer owned 143,394 shares of the company’s stock, valued at approximately $34,849,043.82. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jazz Pharmaceuticals Trading Down 0.3%

Shares of JAZZ traded down $0.83 during trading hours on Thursday, hitting $240.48. The company had a trading volume of 1,029,482 shares, compared to its average volume of 956,914. The firm has a market cap of $15.61 billion, a P/E ratio of 16.58, a P/E/G ratio of 0.22 and a beta of 0.36. The stock’s 50 day moving average price is $249.38 and its 200 day moving average price is $223.09. The company has a quick ratio of 1.58, a current ratio of 1.78 and a debt-to-equity ratio of 0.69. Jazz Pharmaceuticals PLC has a 52-week low of $123.88 and a 52-week high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the firm posted ($8.25) EPS. On average, research analysts predict that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current year.

Hedge Funds Weigh In On Jazz Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System lifted its stake in Jazz Pharmaceuticals by 24,585.6% in the second quarter. California State Teachers Retirement System now owns 15,714,136 shares of the specialty pharmaceutical company’s stock worth $3,786,635,000 after acquiring an additional 15,650,479 shares during the period. Capital World Investors increased its position in Jazz Pharmaceuticals by 4.4% during the 4th quarter. Capital World Investors now owns 2,666,602 shares of the specialty pharmaceutical company’s stock valued at $453,322,000 after purchasing an additional 111,735 shares during the period. Ameriprise Financial Inc. raised its holdings in Jazz Pharmaceuticals by 11.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company’s stock worth $198,159,000 after purchasing an additional 191,637 shares in the last quarter. Franklin Resources Inc. raised its holdings in Jazz Pharmaceuticals by 164.0% in the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock worth $309,215,000 after purchasing an additional 1,129,995 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Jazz Pharmaceuticals by 44.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company’s stock worth $317,485,000 after purchasing an additional 517,514 shares during the period. 89.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JAZZ has been the subject of a number of analyst reports. Needham & Company LLC increased their price objective on Jazz Pharmaceuticals from $292.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Wells Fargo & Company lifted their target price on shares of Jazz Pharmaceuticals from $285.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Truist Financial upped their price target on shares of Jazz Pharmaceuticals from $264.00 to $281.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Weiss Ratings raised shares of Jazz Pharmaceuticals from a “hold (c-)” rating to a “buy (b-)” rating in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Jazz Pharmaceuticals from $265.00 to $276.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $285.50.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a global biopharmaceutical company focused on developing and commercializing medicines for disorders in neuroscience and oncology. The company concentrates on conditions with significant unmet medical needs, including sleep disorders, epilepsy, rare diseases and certain cancers.

Its neuroscience portfolio includes Xywav and Xyrem, oxybate-based treatments for narcolepsy, with Xywav also indicated for idiopathic hypersomnia in adults. Jazz also markets Epidiolex in the United States, known as Epidyolex in some international markets, a cannabidiol-based medicine for seizures associated with Lennox-Gastaut syndrome, Dravet syndrome and tuberous sclerosis complex.

In oncology, Jazz’s products include Rylaze, an asparaginase therapy used as part of treatment for acute lymphoblastic leukemia and lymphoblastic lymphoma; Zepzelca, used for certain patients with metastatic small cell lung cancer; and Vyxeos, a chemotherapy formulation for certain cases of newly diagnosed therapy-related acute myeloid leukemia or AML with myelodysplasia-related changes.