VIRGINIA RETIREMENT SYSTEMS ET Al Invests $4.50 Million in Jazz Pharmaceuticals PLC $JAZZ

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 18,670 shares of the specialty pharmaceutical company’s stock, valued at approximately $4,499,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Allianz Asset Management GmbH increased its position 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 acquiring an additional 242,892 shares during the last quarter. Castleark Management LLC bought a new stake in Jazz Pharmaceuticals during the first quarter worth about $9,214,000. SEB Asset Management AB acquired a new position in Jazz Pharmaceuticals during the first quarter valued at approximately $8,765,000. Bank of America Corp DE boosted its position in Jazz Pharmaceuticals by 10.9% during the first quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company’s stock valued at $191,848,000 after purchasing an additional 99,656 shares during the last quarter. Finally, Swedbank AB grew its stake in Jazz Pharmaceuticals by 2.7% in the fourth quarter. Swedbank AB now owns 1,102,974 shares of the specialty pharmaceutical company’s stock valued at $187,506,000 after purchasing an additional 28,882 shares in the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Mark Smith sold 1,157 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $230.55, for a total transaction of $266,746.35. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce Cozadd sold 6,000 shares of Jazz Pharmaceuticals stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $250.13, for a total transaction of $1,500,780.00. Following the transaction, the director directly owned 351,875 shares of the company’s stock, valued at approximately $88,014,493.75. This trade represents a 1.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 96,078 shares of company stock valued at $23,935,400 in the last quarter. 4.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

JAZZ has been the topic of several recent analyst reports. Stifel Nicolaus set a $275.00 price target on Jazz Pharmaceuticals in a research report on Tuesday, August 4th. Piper Sandler increased their price objective on Jazz Pharmaceuticals from $301.00 to $310.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of Jazz Pharmaceuticals from a “hold (c-)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Canaccord Genuity Group set a $300.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, August 26th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Jazz Pharmaceuticals in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $285.44.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ opened at $241.31 on Thursday. The company has a quick ratio of 1.58, a current ratio of 1.78 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average price is $249.38 and its two-hundred day moving average price is $223.09. The company has a market cap of $15.67 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 0.22 and a beta of 0.36. Jazz Pharmaceuticals PLC has a twelve month low of $123.88 and a twelve month high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.18 by ($0.47). Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business earned ($8.25) earnings per share. The business’s quarterly revenue was up 15.5% on a year-over-year basis. On average, analysts predict that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current year.

Jazz Pharmaceuticals Profile

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.