Jazz Pharmaceuticals PLC $JAZZ Stock Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lessened its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 59.8% in the 3rd quarter, Holdings Channel reports. The firm owned 2,964 shares of the specialty pharmaceutical company’s stock after selling 4,409 shares during the period. First Citizens Bank & Trust Co.’s holdings in Jazz Pharmaceuticals were worth $686,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JAZZ. RHS Financial LLC increased its stake in Jazz Pharmaceuticals by 36.7% during the 3rd quarter. RHS Financial LLC now owns 1,680 shares of the specialty pharmaceutical company’s stock worth $389,000 after buying an additional 451 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of Jazz Pharmaceuticals by 63.3% during the third quarter. NorthCrest Asset Manangement LLC now owns 2,959 shares of the specialty pharmaceutical company’s stock valued at $658,000 after acquiring an additional 1,147 shares during the last quarter. ANB Bank purchased a new position in shares of Jazz Pharmaceuticals in the third quarter valued at approximately $215,000. GK Wealth Management LLC purchased a new position in shares of Jazz Pharmaceuticals in the third quarter valued at approximately $85,000. Finally, Balefire LLC acquired a new stake in shares of Jazz Pharmaceuticals in the third quarter worth approximately $226,000. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Trading Down 2.0%

Shares of Jazz Pharmaceuticals stock opened at $210.23 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.78 and a quick ratio of 1.58. The stock’s 50 day simple moving average is $239.74 and its 200-day simple moving average is $231.93. The stock has a market cap of $13.65 billion, a P/E ratio of 9.28, a P/E/G ratio of 0.22 and a beta of 0.37. Jazz Pharmaceuticals PLC has a 1-year low of $128.80 and a 1-year high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 EPS for the quarter, missing the consensus estimate of $6.18 by ($0.47). Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the business posted ($8.25) EPS. Jazz Pharmaceuticals’s revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts predict that Jazz Pharmaceuticals PLC will post 21.59 EPS for the current fiscal year.

Insider Buying and Selling

In other Jazz Pharmaceuticals news, Director Bruce Cozadd sold 6,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $230.33, for a total value of $1,381,980.00. Following the completion of the sale, the director directly owned 345,875 shares of the company’s stock, valued at $79,665,388.75. This trade represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $240.94, for a total value of $289,128.00. Following the transaction, the executive vice president owned 47,671 shares in the company, valued at approximately $11,485,850.74. This represents a 2.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,121 shares of company stock valued at $24,855,802 in the last quarter. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

JAZZ has been the subject of several research reports. Stifel Nicolaus set a $275.00 price target on Jazz Pharmaceuticals in a research report on Tuesday, August 4th. Piper Sandler raised their price objective on Jazz Pharmaceuticals from $301.00 to $310.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Truist Financial raised their price objective on Jazz Pharmaceuticals from $281.00 to $286.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. Barclays lifted their target price on shares of Jazz Pharmaceuticals from $270.00 to $271.00 and gave the stock an “overweight” rating in a research note on Thursday, September 10th. Finally, Wells Fargo & Company upped their target price on shares of Jazz Pharmaceuticals from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $291.25.

Jazz Pharmaceuticals Profile

Jazz Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing medicines for patients with serious neurological and oncology-related conditions. Founded in 2003 and headquartered in Dublin, Ireland, the company operates internationally, with a significant commercial presence in the United States and other markets.

Jazz’s neuroscience portfolio includes Xywav and Xyrem, which contain oxybate and are used to treat narcolepsy-related symptoms; Xywav is also approved for idiopathic hypersomnia in adults.