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

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) EVP Robert Iannone sold 76,921 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $249.70, for a total value of $19,207,173.70. Following the transaction, the executive vice president directly owned 65,686 shares in the company, valued at $16,401,794.20. This represents a 53.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 NASDAQ JAZZ opened at $250.68 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.58 and a current ratio of 1.78. The company has a market cap of $16.27 billion, a PE ratio of 17.29, a P/E/G ratio of 0.22 and a beta of 0.32. The business has a 50-day simple moving average of $247.80 and a two-hundred day simple moving average of $219.29. Jazz Pharmaceuticals PLC has a fifty-two week low of $123.88 and a fifty-two week high of $266.38.

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

Analysts Set New Price Targets

JAZZ has been the topic of a number of recent analyst reports. UBS Group restated a “buy” rating and set a $315.00 price target on shares of Jazz Pharmaceuticals in a research note on Tuesday, August 4th. Stifel Nicolaus set a $275.00 price objective on shares of Jazz Pharmaceuticals in a report on Tuesday, August 4th. TD Cowen upped their target price on Jazz Pharmaceuticals from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Morgan Stanley raised their target price on Jazz Pharmaceuticals from $283.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 26th. Finally, Canaccord Genuity Group set a $300.00 price target on Jazz Pharmaceuticals in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $285.44.

Institutional Trading of Jazz Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of JAZZ. Triumph Capital Management increased its stake in shares of Jazz Pharmaceuticals by 2.0% in the second quarter. Triumph Capital Management now owns 2,597 shares of the specialty pharmaceutical company’s stock worth $626,000 after acquiring an additional 52 shares during the period. Bessemer Group Inc. lifted its position in Jazz Pharmaceuticals by 0.3% during the first quarter. Bessemer Group Inc. now owns 22,362 shares of the specialty pharmaceutical company’s stock valued at $4,228,000 after purchasing an additional 73 shares during the period. UMB Bank n.a. lifted its position in Jazz Pharmaceuticals by 12.6% during the fourth quarter. UMB Bank n.a. now owns 725 shares of the specialty pharmaceutical company’s stock valued at $123,000 after purchasing an additional 81 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Jazz Pharmaceuticals by 0.7% in the fourth quarter. Pinnacle Associates Ltd. now owns 11,203 shares of the specialty pharmaceutical company’s stock valued at $1,905,000 after purchasing an additional 83 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in Jazz Pharmaceuticals by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,996 shares of the specialty pharmaceutical company’s stock worth $377,000 after purchasing an additional 85 shares during the period. 89.14% of the stock is currently owned by institutional investors and hedge funds.

About Jazz Pharmaceuticals

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.