Jazz Pharmaceuticals PLC (JAZZ) Stake Cut by Prudential Financial Inc.
Prudential Financial Inc. lowered its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 10.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 556,548 shares of the specialty pharmaceutical company’s stock after selling 63,849 shares during the period. Prudential Financial Inc.’s holdings in Jazz Pharmaceuticals PLC were worth $67,610,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of JAZZ. Nuveen Asset Management LLC purchased a new stake in Jazz Pharmaceuticals PLC during the first quarter valued at about $1,352,000. CHURCHILL MANAGEMENT Corp purchased a new stake in Jazz Pharmaceuticals PLC during the second quarter valued at about $4,026,000. British Columbia Investment Management Corp raised its stake in Jazz Pharmaceuticals PLC by 8.8% in the second quarter. British Columbia Investment Management Corp now owns 32,727 shares of the specialty pharmaceutical company’s stock valued at $4,625,000 after buying an additional 2,637 shares during the period. Gateway Investment Advisers LLC purchased a new stake in Jazz Pharmaceuticals PLC during the second quarter valued at about $4,820,000. Finally, Shaker Investments LLC OH purchased a new stake in Jazz Pharmaceuticals PLC during the second quarter valued at about $283,000. 89.70% of the stock is currently owned by hedge funds and other institutional investors.
Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) opened at 105.84 on Wednesday. Jazz Pharmaceuticals PLC has a 12-month low of $95.80 and a 12-month high of $160.00. The company has a market cap of $6.34 billion, a PE ratio of 18.51 and a beta of 1.35. The stock has a 50 day moving average of $113.78 and a 200-day moving average of $132.31.
Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) last released its earnings results on Tuesday, November 8th. The specialty pharmaceutical company reported $2.57 EPS for the quarter, missing the Zacks’ consensus estimate of $2.61 by $0.04. The business had revenue of $374 million for the quarter, compared to the consensus estimate of $389.34 million. Jazz Pharmaceuticals PLC had a return on equity of 30.50% and a net margin of 24.81%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.52 earnings per share. On average, equities research analysts anticipate that Jazz Pharmaceuticals PLC will post $9.96 earnings per share for the current fiscal year.
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Several equities analysts have commented on the stock. Mizuho decreased their price objective on shares of Jazz Pharmaceuticals PLC from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Piper Jaffray Cos. decreased their price objective on shares of Jazz Pharmaceuticals PLC from $188.00 to $178.00 and set an “overweight” rating on the stock in a report on Wednesday, August 10th. Barclays PLC reiterated a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals PLC in a report on Wednesday, August 10th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $195.00 price objective (down from $196.00) on shares of Jazz Pharmaceuticals PLC in a report on Thursday, August 11th. Finally, Leerink Swann reiterated a “buy” rating and issued a $202.00 price objective on shares of Jazz Pharmaceuticals PLC in a report on Thursday, August 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Jazz Pharmaceuticals PLC has an average rating of “Buy” and a consensus price target of $179.91.
In related news, SVP Michael Patrick Miller sold 200 shares of Jazz Pharmaceuticals PLC stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $126.17, for a total value of $25,234.00. Following the completion of the sale, the senior vice president now owns 17,325 shares of the company’s stock, valued at approximately $2,185,895.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kenneth W. O’keefe acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was purchased at an average cost of $113.84 per share, with a total value of $227,680.00. Following the acquisition, the director now owns 12,107 shares in the company, valued at approximately $1,378,260.88. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.
About Jazz Pharmaceuticals PLC
Jazz Pharmaceuticals, Inc is a specialty pharmaceutical company focusing on the development and commercialization of pharmaceutical products to meet unmet medical needs in neurology and psychiatry. As of December 31, 2009, the Company markets two products: Xyrem (sodium oxybate) for the treatment of both cataplexy and excessive daytime sleepiness in patients with narcolepsy; and Luvox CR (fluvoxamine maleate) for the treatment of both obsessive compulsive disorder and social anxiety disorder.
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