Insider Selling: Jazz Pharmaceuticals (NASDAQ:JAZZ) Director Sells $16,235,247.60 in Stock

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) Director Bruce Cozadd sold 68,808 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $235.95, for a total value of $16,235,247.60. Following the completion of the transaction, the director directly owned 357,567 shares in the company, valued at $84,367,933.65. This trade represents a 16.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jazz Pharmaceuticals Stock Up 0.8%

JAZZ traded up $1.89 during trading on Tuesday, hitting $245.43. 576,689 shares of the company’s stock traded hands, compared to its average volume of 931,379. The stock has a market capitalization of $15.75 billion, a price-to-earnings ratio of 83.48, a PEG ratio of 0.47 and a beta of 0.38. The company’s 50 day simple moving average is $229.37 and its two-hundred day simple moving average is $218.11. Jazz Pharmaceuticals PLC has a 12-month low of $132.10 and a 12-month high of $266.38. The company has a current ratio of 1.82, a quick ratio of 1.58 and a debt-to-equity ratio of 1.09.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings results on Monday, November 2nd. The specialty pharmaceutical company reported ($3.88) earnings per share for the quarter, topping the consensus estimate of ($4.03) by $0.15. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Jazz Pharmaceuticals had a return on equity of 16.88% and a net margin of 4.37%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.13 earnings per share. Analysts predict that Jazz Pharmaceuticals PLC will post 11.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Jazz Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JAZZ. Edgestream Partners L.P. bought a new position in shares of Jazz Pharmaceuticals in the third quarter worth approximately $302,000. HighTower Advisors LLC lifted its stake in shares of Jazz Pharmaceuticals by 6.9% during the 3rd quarter. HighTower Advisors LLC now owns 7,268 shares of the specialty pharmaceutical company’s stock valued at $1,683,000 after buying an additional 471 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in Jazz Pharmaceuticals by 5.8% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 7,106 shares of the specialty pharmaceutical company’s stock worth $1,645,000 after buying an additional 392 shares during the period. Hantz Financial Services Inc. boosted its holdings in Jazz Pharmaceuticals by 17.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,659 shares of the specialty pharmaceutical company’s stock worth $1,079,000 after buying an additional 698 shares during the period. Finally, Aberdeen Group plc boosted its holdings in Jazz Pharmaceuticals by 16.5% in the 3rd quarter. Aberdeen Group plc now owns 97,422 shares of the specialty pharmaceutical company’s stock worth $22,555,000 after buying an additional 13,816 shares during the period. 89.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Citigroup started coverage on Jazz Pharmaceuticals in a research note on Wednesday, September 30th. They issued a “buy” rating and a $325.00 price target on the stock. Wells Fargo & Company raised their target price on Jazz Pharmaceuticals from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Weiss Ratings downgraded Jazz Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 28th. UBS Group increased their price objective on shares of Jazz Pharmaceuticals from $315.00 to $337.00 and gave the stock a “buy” rating in a research note on Friday, September 11th. Finally, Stifel Nicolaus set a $275.00 price objective on shares of Jazz Pharmaceuticals in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.00.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing medicines for serious diseases, particularly in neuroscience and oncology. Founded in 2003, the company is headquartered in Dublin, Ireland, and serves patients in the United States and international markets. Its products include treatments for sleep disorders and seizure conditions, such as Xywav, Xyrem, Sunosi and Epidiolex. Jazz also offers medicines used in cancer care, including Zepzelca, Vyxeos and Rylaze, as well as Defitelio for a serious complication following stem cell transplantation.