Jazz Pharmaceuticals (NASDAQ:JAZZ) Releases Quarterly Earnings Results

Jazz Pharmaceuticals (NASDAQ:JAZZ) posted its quarterly earnings data on Tuesday, May 7th. The specialty pharmaceutical company reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.44, Morningstar.com reports. Jazz Pharmaceuticals had a return on equity of 27.35% and a net margin of 24.88%. The firm had revenue of $508.19 million during the quarter, compared to analysts’ expectations of $466.55 million. During the same period in the prior year, the business earned $2.98 EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. Jazz Pharmaceuticals updated its FY 2019 guidance to $14.30-15.00 EPS and its FY19 guidance to $14.30-15.00 EPS.

Shares of Jazz Pharmaceuticals stock traded down $2.75 during midday trading on Friday, hitting $125.25. The company had a trading volume of 13,721 shares, compared to its average volume of 477,681. The company has a quick ratio of 3.01, a current ratio of 3.15 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $7.11 billion, a P/E ratio of 10.25, a PEG ratio of 1.04 and a beta of 1.16. Jazz Pharmaceuticals has a 52-week low of $113.52 and a 52-week high of $184.00.

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued a “buy” rating and issued a $185.00 target price on shares of Jazz Pharmaceuticals in a research note on Tuesday, February 12th. Wells Fargo & Co set a $162.00 target price on Jazz Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, March 19th. TheStreet lowered Jazz Pharmaceuticals from a “b-” rating to a “c+” rating in a research report on Tuesday, February 19th. SunTrust Banks assumed coverage on Jazz Pharmaceuticals in a research report on Tuesday, March 19th. They set a “buy” rating and a $163.00 price target for the company. Finally, ValuEngine raised Jazz Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Jazz Pharmaceuticals has a consensus rating of “Buy” and an average target price of $182.06.

In other Jazz Pharmaceuticals news, CFO Matthew P. Young sold 1,152 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $135.41, for a total transaction of $155,992.32. Following the sale, the chief financial officer now directly owns 38,700 shares in the company, valued at approximately $5,240,367. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Paul Treacy sold 1,060 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $135.41, for a total value of $143,534.60. Following the sale, the senior vice president now owns 21,238 shares in the company, valued at $2,875,837.58. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JAZZ. Kornitzer Capital Management Inc. KS raised its holdings in Jazz Pharmaceuticals by 0.5% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 17,378 shares of the specialty pharmaceutical company’s stock worth $2,154,000 after purchasing an additional 85 shares during the period. First Hawaiian Bank raised its holdings in Jazz Pharmaceuticals by 42.2% in the 4th quarter. First Hawaiian Bank now owns 320 shares of the specialty pharmaceutical company’s stock worth $39,000 after purchasing an additional 95 shares during the period. Utah Retirement Systems raised its holdings in Jazz Pharmaceuticals by 1.0% in the 1st quarter. Utah Retirement Systems now owns 11,108 shares of the specialty pharmaceutical company’s stock worth $1,588,000 after purchasing an additional 108 shares during the period. Advisor Group Inc. raised its holdings in Jazz Pharmaceuticals by 3.3% in the 4th quarter. Advisor Group Inc. now owns 3,755 shares of the specialty pharmaceutical company’s stock worth $465,000 after purchasing an additional 120 shares during the period. Finally, Comerica Bank raised its holdings in Jazz Pharmaceuticals by 1.0% in the 4th quarter. Comerica Bank now owns 12,103 shares of the specialty pharmaceutical company’s stock worth $1,512,000 after purchasing an additional 123 shares during the period. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

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Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various unmet 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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Earnings History for Jazz Pharmaceuticals (NASDAQ:JAZZ)

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