Jazz Pharmaceuticals (NASDAQ:JAZZ) Issues Quarterly Earnings Results

Jazz Pharmaceuticals (NASDAQ:JAZZ) posted its quarterly earnings data on Wednesday. The specialty pharmaceutical company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $4.54 by $1.32, reports. Jazz Pharmaceuticals had a net margin of 11.60% and a return on equity of 30.16%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations 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 Stock Performance

JAZZ stock traded up $4.53 during trading hours on Friday, reaching $123.61. The stock had a trading volume of 868,107 shares, compared to its average volume of 525,365. The stock has a market capitalization of $7.63 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.40 and a beta of 0.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.37 and a quick ratio of 2.02. The stock has a 50-day simple moving average of $110.64 and a 200 day simple moving average of $109.78. Jazz Pharmaceuticals has a fifty-two week low of $99.06 and a fifty-two week high of $134.17.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Jazz Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and issued a $207.00 target price on shares of Jazz Pharmaceuticals in a research note on Thursday. Robert W. Baird decreased their price objective on shares of Jazz Pharmaceuticals from $160.00 to $154.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Piper Sandler reduced their target price on shares of Jazz Pharmaceuticals from $188.00 to $166.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Royal Bank of Canada upped their target price on shares of Jazz Pharmaceuticals from $175.00 to $179.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Jazz Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.00.

Insider Buying and Selling at Jazz Pharmaceuticals

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

Institutional Trading of Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of JAZZ. Private Advisor Group LLC raised its stake in Jazz Pharmaceuticals by 6.5% in the 1st quarter. Private Advisor Group LLC now owns 3,159 shares of the specialty pharmaceutical company’s stock worth $380,000 after purchasing an additional 192 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Jazz Pharmaceuticals by 45.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,888 shares of the specialty pharmaceutical company’s stock worth $1,913,000 after purchasing an additional 4,939 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Jazz Pharmaceuticals by 18.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 5,586 shares of the specialty pharmaceutical company’s stock worth $673,000 after purchasing an additional 879 shares in the last quarter. Financial Counselors Inc. raised its stake in Jazz Pharmaceuticals by 28.2% in the 1st quarter. Financial Counselors Inc. now owns 2,376 shares of the specialty pharmaceutical company’s stock worth $286,000 after purchasing an additional 522 shares in the last quarter. Finally, Commerce Bank raised its stake in Jazz Pharmaceuticals by 8.9% in the 1st quarter. Commerce Bank now owns 60,032 shares of the specialty pharmaceutical company’s stock worth $7,229,000 after purchasing an additional 4,894 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

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.