PNC Financial Services Group Inc. boosted its position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 893.8% during the 1st quarter, HoldingsChannel reports. The fund owned 96,245 shares of the specialty pharmaceutical company’s stock after buying an additional 86,560 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Jazz Pharmaceuticals were worth $9,599,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of JAZZ. State of Alaska Department of Revenue bought a new position in Jazz Pharmaceuticals during the fourth quarter valued at about $119,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Jazz Pharmaceuticals by 2.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,877 shares of the specialty pharmaceutical company’s stock valued at $429,000 after acquiring an additional 70 shares during the period. Strs Ohio bought a new position in Jazz Pharmaceuticals during the fourth quarter valued at about $877,000. Kendall Capital Management increased its stake in Jazz Pharmaceuticals by 15.2% during the fourth quarter. Kendall Capital Management now owns 5,620 shares of the specialty pharmaceutical company’s stock valued at $839,000 after acquiring an additional 740 shares during the period. Finally, New York State Teachers Retirement System bought a new position in Jazz Pharmaceuticals during the fourth quarter valued at about $689,000. Hedge funds and other institutional investors own 91.10% of the company’s stock.
In other Jazz Pharmaceuticals news, VP Patricia Carr sold 247 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $119.75, for a total transaction of $29,578.25. Following the transaction, the vice president now owns 8,153 shares of the company’s stock, valued at approximately $976,321.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Finbar Larkin sold 279 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $119.75, for a total value of $33,410.25. Following the transaction, the senior vice president now directly owns 14,790 shares in the company, valued at approximately $1,771,102.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,333 shares of company stock worth $471,855. Company insiders own 4.30% of the company’s stock.
Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings data on Tuesday, May 5th. The specialty pharmaceutical company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.24. Jazz Pharmaceuticals had a return on equity of 21.66% and a net margin of 12.81%. The firm had revenue of $534.73 million for the quarter, compared to the consensus estimate of $544.55 million. During the same quarter in the prior year, the business earned $3.67 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Jazz Pharmaceuticals PLC will post 9.82 EPS for the current fiscal year.
Several equities analysts recently issued reports on JAZZ shares. Sanford C. Bernstein upgraded Jazz Pharmaceuticals from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $175.00 to $166.00 in a research note on Thursday, March 12th. ValuEngine raised Jazz Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 18th. Morgan Stanley decreased their price objective on Jazz Pharmaceuticals from $147.00 to $109.00 and set an “equal weight” rating on the stock in a report on Thursday, April 2nd. Jefferies Financial Group initiated coverage on Jazz Pharmaceuticals in a report on Monday, April 6th. They set a “buy” rating and a $149.00 price objective on the stock. Finally, SVB Leerink decreased their price objective on Jazz Pharmaceuticals from $169.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $155.26.
Jazz Pharmaceuticals Profile
Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various unmet medical needs in the United States, Europe, and internationally. The company has a portfolio of products and product candidates with a focus in the areas of sleep and hematology/oncology.
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