Jazz Pharmaceuticals (NASDAQ:JAZZ) Posts Earnings Results, Beats Estimates By $1.32 EPS

by · The Cerbat Gem

Jazz Pharmaceuticals (NASDAQ:JAZZ – Get Free Report) posted its quarterly earnings data on Wednesday. The specialty pharmaceutical company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $1.32, reports. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Jazz Pharmaceuticals had a net margin of 10.10% and a return on equity of 28.65%. 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 Up 2.1 %

Shares of JAZZ stock traded up $2.47 on Friday, reaching $121.55. 222,562 shares of the stock were exchanged, compared to its average volume of 670,644. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.36. The business’s 50 day moving average price is $110.49 and its 200 day moving average price is $109.68. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.37 and a beta of 0.57. Jazz Pharmaceuticals has a twelve month low of $99.06 and a twelve month high of $134.17.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on JAZZ shares. Robert W. Baird lowered their price objective on shares of Jazz Pharmaceuticals from $160.00 to $154.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $140.00 price objective on shares of Jazz Pharmaceuticals in a research report on Monday, September 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $207.00 price objective on shares of Jazz Pharmaceuticals in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $200.00 price objective on shares of Jazz Pharmaceuticals in a research report on Thursday, August 1st. Finally, Royal Bank of Canada raised their price target on shares of Jazz Pharmaceuticals from $175.00 to $179.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $175.00.

Check Out Our Latest Report on JAZZ

Insider Buying and Selling

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

Institutional Investors Weigh In On Jazz Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc raised its holdings in shares of Jazz Pharmaceuticals by 13,450.0% in the second quarter. Versant Capital Management Inc now owns 271 shares of the specialty pharmaceutical company’s stock valued at $29,000 after buying an additional 269 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Jazz Pharmaceuticals in the second quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of Jazz Pharmaceuticals by 55.1% in the second quarter. EverSource Wealth Advisors LLC now owns 273 shares of the specialty pharmaceutical company’s stock valued at $30,000 after buying an additional 97 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Jazz Pharmaceuticals by 65.5% in the second quarter. GAMMA Investing LLC now owns 293 shares of the specialty pharmaceutical company’s stock valued at $31,000 after buying an additional 116 shares during the last quarter. Finally, Gladius Capital Management LP purchased a new stake in shares of Jazz Pharmaceuticals in the second quarter valued at about $33,000. 89.14% of the stock is owned by hedge funds and other institutional investors.

About Jazz Pharmaceuticals

(Get Free Report)

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.

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