Jazz Pharmaceuticals (JAZZ) Cut to “Hold” at BidaskClub

Jazz Pharmaceuticals (NASDAQ:JAZZ) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley set a $168.00 price objective on shares of Jazz Pharmaceuticals and gave the company a “hold” rating in a research report on Wednesday, November 28th. Mizuho reduced their price target on shares of Jazz Pharmaceuticals to $157.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 20th. HC Wainwright restated a “hold” rating and issued a $161.00 price target on shares of Jazz Pharmaceuticals in a research report on Wednesday, November 14th. ValuEngine upgraded shares of Jazz Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. Finally, Zacks Investment Research restated a “hold” rating on shares of Jazz Pharmaceuticals in a research report on Tuesday, November 13th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Jazz Pharmaceuticals has an average rating of “Buy” and a consensus price target of $189.76.

Jazz Pharmaceuticals stock opened at $143.50 on Friday. The company has a market cap of $8.73 billion, a PE ratio of 15.01, a P/E/G ratio of 0.87 and a beta of 0.94. The company has a current ratio of 4.29, a quick ratio of 4.16 and a debt-to-equity ratio of 0.52. Jazz Pharmaceuticals has a 1 year low of $130.15 and a 1 year high of $184.00.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings data on Tuesday, November 6th. The specialty pharmaceutical company reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.26. The firm had revenue of $469.37 million for the quarter, compared to analysts’ expectations of $482.64 million. Jazz Pharmaceuticals had a net margin of 28.09% and a return on equity of 24.92%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.22 earnings per share. As a group, analysts anticipate that Jazz Pharmaceuticals will post 11.6 earnings per share for the current fiscal year.

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 1,300 shares of the business’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $164.36, for a total transaction of $213,668.00. Following the transaction, the chief executive officer now owns 281,215 shares in the company, valued at $46,220,497.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew P. Young sold 700 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $162.70, for a total transaction of $113,890.00. Following the transaction, the chief financial officer now owns 33,468 shares in the company, valued at approximately $5,445,243.60. The disclosure for this sale can be found here. Insiders sold 6,600 shares of company stock worth $1,063,472 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. FMR LLC increased its position in Jazz Pharmaceuticals by 12.1% during the second quarter. FMR LLC now owns 6,634,958 shares of the specialty pharmaceutical company’s stock valued at $1,143,203,000 after acquiring an additional 715,595 shares during the last quarter. Vanguard Group Inc. increased its position in Jazz Pharmaceuticals by 0.5% during the third quarter. Vanguard Group Inc. now owns 4,882,984 shares of the specialty pharmaceutical company’s stock valued at $820,975,000 after acquiring an additional 23,400 shares during the last quarter. BlackRock Inc. increased its position in Jazz Pharmaceuticals by 2.7% during the third quarter. BlackRock Inc. now owns 4,490,714 shares of the specialty pharmaceutical company’s stock valued at $755,024,000 after acquiring an additional 118,634 shares during the last quarter. JPMorgan Chase & Co. increased its position in Jazz Pharmaceuticals by 3.0% during the third quarter. JPMorgan Chase & Co. now owns 1,912,173 shares of the specialty pharmaceutical company’s stock valued at $321,494,000 after acquiring an additional 56,291 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Jazz Pharmaceuticals by 14.0% during the third quarter. Bank of New York Mellon Corp now owns 1,690,385 shares of the specialty pharmaceutical company’s stock valued at $284,205,000 after acquiring an additional 207,954 shares during the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various medical needs in the United States, Europe, and internationally. The company has a portfolio of products and product candidates with a focus in the areas of sleep and hematology/oncology.

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