FY2019 EPS Estimates for Jazz Pharmaceuticals PLC Cut by Analyst (JAZZ)
Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) – Equities researchers at Leerink Swann cut their FY2019 earnings estimates for shares of Jazz Pharmaceuticals in a research report issued on Monday, October 15th. Leerink Swann analyst A. Fadia now expects that the specialty pharmaceutical company will earn $13.63 per share for the year, down from their prior estimate of $13.83. Leerink Swann has a “Outperform” rating and a $210.00 price target on the stock. Leerink Swann also issued estimates for Jazz Pharmaceuticals’ FY2020 earnings at $17.98 EPS, FY2021 earnings at $20.87 EPS and FY2022 earnings at $23.15 EPS.
Several other brokerages also recently weighed in on JAZZ. BidaskClub upgraded Jazz Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 21st. Morgan Stanley downgraded Jazz Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $183.00 target price for the company. in a research note on Wednesday, July 11th. Cantor Fitzgerald set a $203.00 target price on Jazz Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, August 7th. Piper Jaffray Companies restated a “buy” rating and set a $213.00 target price on shares of Jazz Pharmaceuticals in a research note on Wednesday, August 8th. Finally, Stifel Nicolaus raised their target price on Jazz Pharmaceuticals from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. Jazz Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $193.32.
Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its earnings results on Tuesday, August 7th. The specialty pharmaceutical company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.26. The company had revenue of $500.48 million during the quarter, compared to the consensus estimate of $469.85 million. Jazz Pharmaceuticals had a return on equity of 25.47% and a net margin of 24.20%.
In other news, Director Rick E. Winningham sold 16,639 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $176.18, for a total transaction of $2,931,459.02. Following the transaction, the director now owns 15,594 shares of the company’s stock, valued at $2,747,350.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bruce C. Cozadd sold 1,600 shares of the stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $173.90, for a total transaction of $278,240.00. Following the transaction, the chief executive officer now directly owns 282,515 shares in the company, valued at approximately $49,129,358.50. The disclosure for this sale can be found here. Insiders have sold 34,278 shares of company stock worth $5,919,472 in the last ninety days. Corporate insiders own 3.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Summit Trail Advisors LLC lifted its holdings in Jazz Pharmaceuticals by 8,591.5% in the first quarter. Summit Trail Advisors LLC now owns 102,125 shares of the specialty pharmaceutical company’s stock worth $102,000 after acquiring an additional 100,950 shares during the last quarter. Financial Gravity Wealth Inc. bought a new position in Jazz Pharmaceuticals in the first quarter worth about $192,000. Tiverton Asset Management LLC bought a new position in Jazz Pharmaceuticals in the second quarter worth about $198,000. Moloney Securities Asset Management LLC bought a new position in Jazz Pharmaceuticals in the second quarter worth about $204,000. Finally, FDx Advisors Inc. bought a new position in Jazz Pharmaceuticals in the second quarter worth about $244,000. 92.52% of the stock is currently owned by institutional investors and hedge funds.
Jazz Pharmaceuticals Company Profile
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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