Jazz Pharmaceuticals (JAZZ) Issues Earnings Results, Beats Estimates By $0.26 EPS

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Jazz Pharmaceuticals (NASDAQ:JAZZ) released its quarterly earnings data on Tuesday. The specialty pharmaceutical company reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.26, Briefing.com reports. Jazz Pharmaceuticals had a return on equity of 25.47% and a net margin of 24.20%. The firm had revenue of $469.37 million for the quarter, compared to analysts’ expectations of $482.64 million. During the same period in the prior year, the firm posted $3.22 earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. Jazz Pharmaceuticals updated its FY 2018 guidance to $12.75-13.25 EPS and its FY18 guidance to $12.75-13.25 EPS.

NASDAQ JAZZ traded down $24.00 on Wednesday, reaching $140.41. The stock had a trading volume of 2,995,871 shares, compared to its average volume of 492,800. The firm has a market cap of $9.85 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 0.89 and a beta of 1.06. The company has a quick ratio of 3.62, a current ratio of 3.76 and a debt-to-equity ratio of 0.54. Jazz Pharmaceuticals has a 12-month low of $130.15 and a 12-month high of $184.00.

A number of research firms recently commented on JAZZ. ValuEngine cut Jazz Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday. Cowen set a $200.00 price objective on Jazz Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Co reiterated a “buy” rating on shares of Jazz Pharmaceuticals in a report on Wednesday. Royal Bank of Canada set a $184.00 price objective on Jazz Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday. Finally, Piper Jaffray Companies set a $208.00 price objective on Jazz Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. Jazz Pharmaceuticals currently has an average rating of “Buy” and an average target price of $192.22.

In other Jazz Pharmaceuticals news, Director Rick E. Winningham sold 16,639 shares of the business’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $176.18, for a total value of $2,931,459.02. Following the sale, 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 SEC, which can be accessed through the SEC website. Also, CEO Bruce C. Cozadd sold 1,300 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $159.45, for a total value of $207,285.00. Following the completion of the sale, the chief executive officer now directly owns 278,615 shares in the company, valued at approximately $44,425,161.75. The disclosure for this sale can be found here. In the last three months, insiders sold 34,678 shares of company stock worth $5,959,173. 3.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in JAZZ. LPL Financial LLC raised its position in Jazz Pharmaceuticals by 27.7% in the first quarter. LPL Financial LLC now owns 4,801 shares of the specialty pharmaceutical company’s stock valued at $725,000 after purchasing an additional 1,041 shares during the period. Allianz Asset Management GmbH increased its position in shares of Jazz Pharmaceuticals by 2.2% during the first quarter. Allianz Asset Management GmbH now owns 111,701 shares of the specialty pharmaceutical company’s stock worth $16,865,000 after acquiring an additional 2,422 shares during the period. Fulton Bank N.A. increased its position in shares of Jazz Pharmaceuticals by 16.9% during the second quarter. Fulton Bank N.A. now owns 3,444 shares of the specialty pharmaceutical company’s stock worth $593,000 after acquiring an additional 497 shares during the period. Private Capital Advisors Inc. purchased a new stake in shares of Jazz Pharmaceuticals during the second quarter worth $4,170,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Jazz Pharmaceuticals during the second quarter worth $1,130,000. 92.95% of the stock is currently owned by institutional investors.

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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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Earnings History for Jazz Pharmaceuticals (NASDAQ:JAZZ)

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