Robert Iannone Sells 76,921 Shares of Jazz Pharmaceuticals (NASDAQ:JAZZ) Stock

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) EVP Robert Iannone sold 76,921 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $249.70, for a total transaction of $19,207,173.70. Following the completion of the sale, the executive vice president owned 65,686 shares in the company, valued at $16,401,794.20. This represents a 53.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jazz Pharmaceuticals Price Performance

Shares of JAZZ opened at $243.71 on Wednesday. The firm has a market cap of $15.82 billion, a PE ratio of 16.81, a P/E/G ratio of 0.23 and a beta of 0.36. 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 firm has a fifty day simple moving average of $248.07 and a two-hundred day simple moving average of $219.83. Jazz Pharmaceuticals PLC has a 1-year low of $123.88 and a 1-year high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings results 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). Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the company earned ($8.25) earnings per share. Jazz Pharmaceuticals’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts anticipate that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current year.

Institutional Trading of Jazz Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LP raised its stake in shares of Jazz Pharmaceuticals by 27.4% in the second quarter. Corient Private Wealth LP now owns 13,071 shares of the specialty pharmaceutical company’s stock worth $3,150,000 after buying an additional 2,810 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Jazz Pharmaceuticals during the 2nd quarter valued at approximately $4,499,000. California State Teachers Retirement System grew its stake in shares of Jazz Pharmaceuticals by 24,585.6% during the 2nd quarter. California State Teachers Retirement System now owns 15,714,136 shares of the specialty pharmaceutical company’s stock valued at $3,786,635,000 after acquiring an additional 15,650,479 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Jazz Pharmaceuticals in the 2nd quarter worth approximately $47,000. Finally, Wedmont Private Capital increased its holdings in Jazz Pharmaceuticals by 7.4% in the 2nd quarter. Wedmont Private Capital now owns 2,474 shares of the specialty pharmaceutical company’s stock worth $603,000 after acquiring an additional 171 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.

Wall Street Analysts Forecast Growth

JAZZ has been the subject of a number of recent research reports. Weiss Ratings upgraded Jazz Pharmaceuticals from a “hold (c-)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. increased their price objective on shares of Jazz Pharmaceuticals from $265.00 to $276.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Barclays raised their price objective on shares of Jazz Pharmaceuticals from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Royal Bank Of Canada set a $299.00 target price on shares of Jazz Pharmaceuticals in a research report on Friday. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $239.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $285.44.

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.