Swedbank AB Lowers Stake in Jazz Pharmaceuticals PLC $JAZZ

Swedbank AB lessened its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 10.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 992,108 shares of the specialty pharmaceutical company’s stock after selling 110,866 shares during the period. Swedbank AB’s holdings in Jazz Pharmaceuticals were worth $187,558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Parrish Capital LLC raised its holdings in Jazz Pharmaceuticals by 13.4% in the 1st quarter. Parrish Capital LLC now owns 3,448 shares of the specialty pharmaceutical company’s stock valued at $652,000 after acquiring an additional 407 shares during the last quarter. Praxis Investment Management Inc. boosted its holdings in shares of Jazz Pharmaceuticals by 37.5% during the first quarter. Praxis Investment Management Inc. now owns 1,966 shares of the specialty pharmaceutical company’s stock worth $372,000 after purchasing an additional 536 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Jazz Pharmaceuticals by 38.7% during the first quarter. QRG Capital Management Inc. now owns 2,348 shares of the specialty pharmaceutical company’s stock worth $444,000 after purchasing an additional 655 shares during the last quarter. HB Wealth Management LLC grew its position in shares of Jazz Pharmaceuticals by 27.4% in the first quarter. HB Wealth Management LLC now owns 2,910 shares of the specialty pharmaceutical company’s stock valued at $550,000 after purchasing an additional 626 shares during the period. Finally, Boston Trust Walden Corp grew its position in shares of Jazz Pharmaceuticals by 24.1% in the first quarter. Boston Trust Walden Corp now owns 488,661 shares of the specialty pharmaceutical company’s stock valued at $92,381,000 after purchasing an additional 94,750 shares during the period. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Piper Sandler increased their target price on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Leerink Partners lifted their price target on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $245.00 price objective on shares of Jazz Pharmaceuticals in a research note on Thursday, May 7th. Barclays increased their price objective on shares of Jazz Pharmaceuticals from $234.00 to $253.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Finally, Truist Financial decreased their target price on shares of Jazz Pharmaceuticals from $256.00 to $254.00 and set a “buy” rating on the stock in a research report on Tuesday. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $245.94.

Jazz Pharmaceuticals Trading Up 0.9%

JAZZ stock traded up $2.27 during midday trading on Tuesday, reaching $246.44. 198,007 shares of the company’s stock traded hands, compared to its average volume of 976,480. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. Jazz Pharmaceuticals PLC has a fifty-two week low of $105.00 and a fifty-two week high of $246.07. The business has a 50-day moving average price of $229.26 and a two-hundred day moving average price of $195.95. The company has a market capitalization of $15.48 billion, a P/E ratio of -12,315.99, a PEG ratio of 0.21 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings data on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter. The company had revenue of $1.07 billion during the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. Equities research analysts forecast that Jazz Pharmaceuticals PLC will post 22.09 EPS for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In related news, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $240.47, for a total value of $1,442,820.00. Following the completion of the sale, the director directly owned 366,682 shares in the company, valued at approximately $88,176,020.54. This represents a 1.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Douglas Smith sold 1,157 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $230.55, for a total value of $266,746.35. Following the completion of the transaction, the director directly owned 9,680 shares in the company, valued at $2,231,724. This trade represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,098 shares of company stock worth $3,131,906 in the last quarter. 4.10% of the stock is owned by corporate insiders.

Jazz Pharmaceuticals Profile

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.