Jazz Pharmaceuticals plc (NASDAQ:JAZZ) to Post FY2023 Earnings of $15.19 Per Share, Cantor Fitzgerald Forecasts

Jazz Pharmaceuticals plc (NASDAQ:JAZZGet Rating) – Analysts at Cantor Fitzgerald issued their FY2023 earnings per share estimates for shares of Jazz Pharmaceuticals in a research note issued to investors on Monday, June 6th. Cantor Fitzgerald analyst B. Folkes expects that the specialty pharmaceutical company will post earnings per share of $15.19 for the year. Cantor Fitzgerald currently has a “Overweight” rating on the stock.

Jazz Pharmaceuticals (NASDAQ:JAZZGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The specialty pharmaceutical company reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.13. The company had revenue of $813.72 million for the quarter, compared to the consensus estimate of $853.73 million. Jazz Pharmaceuticals had a negative net margin of 13.63% and a positive return on equity of 22.45%. Jazz Pharmaceuticals’s revenue was up 33.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.42 earnings per share.

A number of other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group downgraded shares of Jazz Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price target for the company from $202.00 to $196.00 in a research note on Wednesday, April 6th. Piper Sandler decreased their price target on shares of Jazz Pharmaceuticals from $197.00 to $193.00 in a research note on Thursday, May 5th. Royal Bank of Canada reduced their target price on shares of Jazz Pharmaceuticals from $216.00 to $214.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 2nd. BMO Capital Markets reduced their target price on shares of Jazz Pharmaceuticals from $202.00 to $187.00 in a research note on Wednesday, March 2nd. Finally, StockNews.com raised shares of Jazz Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, June 2nd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $206.47.

Jazz Pharmaceuticals stock opened at $154.57 on Wednesday. The firm’s fifty day moving average is $155.72 and its 200 day moving average is $144.58. The company has a quick ratio of 2.06, a current ratio of 3.39 and a debt-to-equity ratio of 1.66. Jazz Pharmaceuticals has a 52-week low of $117.64 and a 52-week high of $189.00.

A number of institutional investors have recently modified their holdings of the business. Gateway Investment Advisers LLC lifted its position in shares of Jazz Pharmaceuticals by 0.4% during the first quarter. Gateway Investment Advisers LLC now owns 15,277 shares of the specialty pharmaceutical company’s stock valued at $2,378,000 after buying an additional 64 shares during the last quarter. CWM LLC lifted its position in shares of Jazz Pharmaceuticals by 25.2% during the first quarter. CWM LLC now owns 422 shares of the specialty pharmaceutical company’s stock valued at $66,000 after buying an additional 85 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Jazz Pharmaceuticals by 2.4% during the first quarter. Captrust Financial Advisors now owns 3,707 shares of the specialty pharmaceutical company’s stock valued at $577,000 after buying an additional 86 shares during the last quarter. Securian Asset Management Inc. lifted its position in shares of Jazz Pharmaceuticals by 1.8% during the fourth quarter. Securian Asset Management Inc. now owns 5,523 shares of the specialty pharmaceutical company’s stock valued at $704,000 after buying an additional 100 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Jazz Pharmaceuticals by 3.1% during the first quarter. Daiwa Securities Group Inc. now owns 3,325 shares of the specialty pharmaceutical company’s stock valued at $518,000 after buying an additional 100 shares during the last quarter. Institutional investors own 93.23% of the company’s stock.

In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 722 shares of the stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $147.51, for a total transaction of $106,502.22. Following the transaction, the chief accounting officer now directly owns 6,234 shares in the company, valued at approximately $919,577.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bruce C. Cozadd sold 6,362 shares of the stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $146.87, for a total transaction of $934,386.94. Following the transaction, the chief executive officer now owns 351,987 shares in the company, valued at $51,696,330.69. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,692 shares of company stock worth $4,417,642. Company insiders own 4.30% of the company’s stock.

About Jazz Pharmaceuticals (Get Rating)

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 neuroscience, including sleep medicine and movement disorders; and in oncology, including hematologic and solid tumors.

Further Reading

Earnings History and Estimates for Jazz Pharmaceuticals (NASDAQ:JAZZ)

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