Jazz Pharmaceuticals (NASDAQ:JAZZ) Issues Quarterly Earnings Results

Jazz Pharmaceuticals (NASDAQ:JAZZ) posted its quarterly earnings results on Wednesday. The specialty pharmaceutical company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.54 by $1.32, reports. Jazz Pharmaceuticals had a net margin of 10.10% and a return on equity of 28.65%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. Jazz Pharmaceuticals updated its FY24 guidance to $19.50-20.60 EPS and its FY 2024 guidance to 19.500-20.600 EPS.

Jazz Pharmaceuticals Price Performance

Shares of JAZZ traded up $2.47 during mid-day trading on Friday, hitting $121.55. 222,562 shares of the company were exchanged, compared to its average volume of 670,644. Jazz Pharmaceuticals has a 1-year low of $99.06 and a 1-year high of $134.17. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.02 and a current ratio of 2.37. The company has a 50 day moving average of $110.49 and a 200-day moving average of $109.68. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.37 and a beta of 0.57.

Insider Buying and Selling

In related news, CEO Bruce C. Cozadd sold 1,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $110.84, for a total transaction of $110,840.00. Following the completion of the transaction, the chief executive officer now owns 428,976 shares in the company, valued at $47,547,699.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Jazz Pharmaceuticals news, SVP Mary Elizabeth Henderson sold 1,410 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $108.30, for a total value of $152,703.00. Following the completion of the sale, the senior vice president now owns 14,531 shares in the company, valued at approximately $1,573,707.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bruce C. Cozadd sold 1,000 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $110.84, for a total transaction of $110,840.00. Following the completion of the sale, the chief executive officer now owns 428,976 shares of the company’s stock, valued at approximately $47,547,699.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Institutional Trading of Jazz Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Capital World Investors acquired a new stake in shares of Jazz Pharmaceuticals during the 1st quarter worth approximately $171,943,000. Swedbank AB acquired a new stake in shares of Jazz Pharmaceuticals during the 2nd quarter worth approximately $106,936,000. Rubric Capital Management LP acquired a new stake in shares of Jazz Pharmaceuticals during the 2nd quarter worth approximately $65,812,000. Pacer Advisors Inc. increased its holdings in shares of Jazz Pharmaceuticals by 40.7% during the 2nd quarter. Pacer Advisors Inc. now owns 1,820,913 shares of the specialty pharmaceutical company’s stock worth $194,346,000 after buying an additional 527,187 shares during the last quarter. Finally, Baupost Group LLC MA increased its holdings in shares of Jazz Pharmaceuticals by 52.8% during the 2nd quarter. Baupost Group LLC MA now owns 1,274,248 shares of the specialty pharmaceutical company’s stock worth $136,000,000 after buying an additional 440,552 shares during the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Piper Sandler lowered their price target on shares of Jazz Pharmaceuticals from $188.00 to $166.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. HC Wainwright reaffirmed a “buy” rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Jazz Pharmaceuticals from $190.00 to $202.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $207.00 price target on shares of Jazz Pharmaceuticals in a report on Thursday. Finally, StockNews.com raised shares of Jazz Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.00.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.