Legal & General Group Plc Lowers Stock Holdings in Jazz Pharmaceuticals PLC $JAZZ

Legal & General Group Plc trimmed its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 20.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,871 shares of the specialty pharmaceutical company’s stock after selling 24,006 shares during the quarter. Legal & General Group Plc’s holdings in Jazz Pharmaceuticals were worth $16,298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hilltop National Bank purchased a new stake in shares of Jazz Pharmaceuticals in the fourth quarter worth about $36,000. LRI Investments LLC purchased a new stake in shares of Jazz Pharmaceuticals in the fourth quarter worth about $38,000. Danske Bank A S purchased a new stake in shares of Jazz Pharmaceuticals in the third quarter worth about $40,000. Geneos Wealth Management Inc. lifted its holdings in shares of Jazz Pharmaceuticals by 57.6% in the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after buying an additional 137 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Jazz Pharmaceuticals by 1,383.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company’s stock worth $47,000 after buying an additional 332 shares in the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Jazz Pharmaceuticals

In related news, Director Bruce C. Cozadd sold 6,000 shares of Jazz Pharmaceuticals stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $190.50, for a total value of $1,143,000.00. Following the sale, the director owned 384,682 shares in the company, valued at $73,281,921. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heather Ann Mcsharry sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $241.00, for a total transaction of $482,000.00. Following the completion of the sale, the director owned 18,449 shares in the company, valued at approximately $4,446,209. This trade represents a 9.78% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 12,028 shares of company stock worth $2,522,587. 4.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

JAZZ has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their price target on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Bank of America raised their target price on shares of Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Piper Sandler raised their target price on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. TD Cowen raised their target price on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Leerink Partners raised their target price on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.65.

Jazz Pharmaceuticals Stock Down 1.6%

Shares of NASDAQ JAZZ opened at $232.64 on Tuesday. The company has a market cap of $14.60 billion, a price-to-earnings ratio of -11,626.19, a PEG ratio of 0.41 and a beta of 0.32. The firm’s fifty day moving average is $209.13 and its 200 day moving average is $184.57. Jazz Pharmaceuticals PLC has a 52 week low of $105.00 and a 52 week high of $243.32. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. The business had revenue of $1.07 billion for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. On average, equities research analysts expect that Jazz Pharmaceuticals PLC will post 21.13 earnings per share for the current year.

About Jazz Pharmaceuticals

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.