California State Teachers Retirement System Grows Stock Holdings in Jazz Pharmaceuticals PLC $JAZZ

California State Teachers Retirement System increased its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 24,585.6% during the second quarter, Holdings Channel reports. The institutional investor owned 15,714,136 shares of the specialty pharmaceutical company’s stock after acquiring an additional 15,650,479 shares during the period. California State Teachers Retirement System owned about 0.24% of Jazz Pharmaceuticals worth $3,786,635,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new position in Jazz Pharmaceuticals in the first quarter valued at about $25,000. Danske Bank A S purchased a new stake in shares of Jazz Pharmaceuticals during the 3rd quarter worth approximately $40,000. Ameritas Advisory Services LLC purchased a new stake in shares of Jazz Pharmaceuticals during the 2nd quarter worth approximately $47,000. Geneos Wealth Management Inc. grew its holdings in shares of Jazz Pharmaceuticals by 57.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after acquiring an additional 137 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Jazz Pharmaceuticals by 1,383.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company’s stock worth $47,000 after acquiring an additional 332 shares during the period. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Bruce Cozadd sold 6,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $252.98, for a total value of $1,517,880.00. Following the completion of the transaction, the director directly owned 360,682 shares of the company’s stock, valued at $91,245,332.36. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Renée Galá sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $243.03, for a total value of $486,060.00. Following the completion of the sale, the chief executive officer owned 143,394 shares in the company, valued at $34,849,043.82. This represents a 1.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 98,078 shares of company stock worth $24,421,460. 4.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Needham & Company LLC raised their price objective on Jazz Pharmaceuticals from $292.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Royal Bank Of Canada set a $299.00 target price on Jazz Pharmaceuticals in a research report on Friday, August 28th. Wells Fargo & Company upped their target price on Jazz Pharmaceuticals from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Robert W. Baird raised their price target on Jazz Pharmaceuticals from $252.00 to $280.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Jazz Pharmaceuticals from $287.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $285.50.

Jazz Pharmaceuticals Trading Down 0.3%

Shares of JAZZ opened at $240.48 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.78 and a quick ratio of 1.58. The firm has a 50 day simple moving average of $249.32 and a 200-day simple moving average of $223.57. Jazz Pharmaceuticals PLC has a 1-year low of $123.88 and a 1-year high of $266.38. The stock has a market cap of $15.61 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 0.22 and a beta of 0.36.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.18 by ($0.47). Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company posted ($8.25) EPS. Jazz Pharmaceuticals’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts forecast that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current fiscal year.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a global biopharmaceutical company focused on developing and commercializing medicines for disorders in neuroscience and oncology. The company concentrates on conditions with significant unmet medical needs, including sleep disorders, epilepsy, rare diseases and certain cancers.

Its neuroscience portfolio includes Xywav and Xyrem, oxybate-based treatments for narcolepsy, with Xywav also indicated for idiopathic hypersomnia in adults. Jazz also markets Epidiolex in the United States, known as Epidyolex in some international markets, a cannabidiol-based medicine for seizures associated with Lennox-Gastaut syndrome, Dravet syndrome and tuberous sclerosis complex.

In oncology, Jazz’s products include Rylaze, an asparaginase therapy used as part of treatment for acute lymphoblastic leukemia and lymphoblastic lymphoma; Zepzelca, used for certain patients with metastatic small cell lung cancer; and Vyxeos, a chemotherapy formulation for certain cases of newly diagnosed therapy-related acute myeloid leukemia or AML with myelodysplasia-related changes.