SunTrust Banks Comments on Jazz Pharmaceuticals PLC’s Q2 2019 Earnings (JAZZ)

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) – Analysts at SunTrust Banks decreased their Q2 2019 EPS estimates for Jazz Pharmaceuticals in a research note issued on Tuesday, May 7th. SunTrust Banks analyst J. Boris now anticipates that the specialty pharmaceutical company will post earnings per share of $3.03 for the quarter, down from their prior forecast of $3.32. SunTrust Banks has a “Buy” rating and a $163.00 price objective on the stock.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported $3.27 EPS for the quarter, beating the Zacks’ consensus estimate of $2.83 by $0.44. The business had revenue of $508.19 million during the quarter, compared to analyst estimates of $466.55 million. Jazz Pharmaceuticals had a net margin of 23.64% and a return on equity of 26.20%. Jazz Pharmaceuticals’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.98 EPS.

Other analysts have also issued research reports about the stock. Cantor Fitzgerald reiterated a “buy” rating and issued a $185.00 target price on shares of Jazz Pharmaceuticals in a research note on Tuesday, March 26th. Mizuho reiterated a “hold” rating and issued a $147.00 target price (up previously from $137.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, March 27th. ValuEngine lowered shares of Jazz Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 18th. Zacks Investment Research lowered shares of Jazz Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday. Finally, BMO Capital Markets upped their target price on shares of Jazz Pharmaceuticals from $206.00 to $208.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. Jazz Pharmaceuticals presently has an average rating of “Buy” and an average target price of $182.88.

Shares of JAZZ stock opened at $139.88 on Friday. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.08 and a beta of 1.16. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.57 and a quick ratio of 3.42. Jazz Pharmaceuticals has a 12 month low of $113.52 and a 12 month high of $184.00.

In other Jazz Pharmaceuticals news, CFO Matthew P. Young sold 1,152 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were 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 of the company’s stock, valued at $5,240,367. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Suzanne Sawochka Hooper sold 6,666 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $140.00, for a total transaction of $933,240.00. Following the sale, the executive vice president now directly owns 40,401 shares in the company, valued at $5,656,140. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,668 shares of company stock valued at $1,606,567. 3.90% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc lifted its holdings in Jazz Pharmaceuticals by 0.5% during the third quarter. Vanguard Group Inc now owns 4,882,984 shares of the specialty pharmaceutical company’s stock valued at $820,975,000 after purchasing an additional 23,400 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Jazz Pharmaceuticals by 16.7% during the first quarter. JPMorgan Chase & Co. now owns 2,262,159 shares of the specialty pharmaceutical company’s stock valued at $323,376,000 after purchasing an additional 324,080 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Jazz Pharmaceuticals by 1.2% during the third quarter. TIAA CREF Investment Management LLC now owns 1,332,172 shares of the specialty pharmaceutical company’s stock valued at $223,978,000 after purchasing an additional 15,607 shares during the last quarter. Boston Partners lifted its holdings in Jazz Pharmaceuticals by 17.8% during the fourth quarter. Boston Partners now owns 1,315,371 shares of the specialty pharmaceutical company’s stock valued at $163,054,000 after purchasing an additional 198,306 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in Jazz Pharmaceuticals by 2.8% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,143,835 shares of the specialty pharmaceutical company’s stock valued at $141,790,000 after purchasing an additional 31,100 shares during the last quarter. 94.25% of the stock is currently owned by institutional investors and hedge funds.

About Jazz Pharmaceuticals

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 and Estimates for Jazz Pharmaceuticals (NASDAQ:JAZZ)

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