SummitTX Capital L.P. Lowers Stake in Jazz Pharmaceuticals PLC $JAZZ

SummitTX Capital L.P. decreased its position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 42.3% during the first quarter, Holdings Channel reports. The institutional investor owned 73,222 shares of the specialty pharmaceutical company’s stock after selling 53,573 shares during the period. SummitTX Capital L.P.’s holdings in Jazz Pharmaceuticals were worth $13,843,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Jazz Pharmaceuticals during the fourth quarter valued at $38,000. Westpac Banking Corp bought a new stake in Jazz Pharmaceuticals in the first quarter worth $51,000. Leonteq Securities AG purchased a new stake in Jazz Pharmaceuticals during the fourth quarter valued at $50,000. Root Financial Partners LLC lifted its position in Jazz Pharmaceuticals by 42.8% during the first quarter. Root Financial Partners LLC now owns 297 shares of the specialty pharmaceutical company’s stock valued at $56,000 after purchasing an additional 89 shares during the last quarter. Finally, Danske Bank A S bought a new position in Jazz Pharmaceuticals during the third quarter valued at $40,000. 89.14% of the stock is currently owned by institutional investors.

Jazz Pharmaceuticals Stock Performance

JAZZ stock opened at $253.87 on Monday. Jazz Pharmaceuticals PLC has a 12 month low of $105.00 and a 12 month high of $256.75. The firm’s 50-day moving average is $237.37 and its 200 day moving average is $203.44. The company has a market capitalization of $15.95 billion, a PE ratio of -12,687.16, a P/E/G ratio of 0.22 and a beta of 0.32. 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 (NASDAQ:JAZZ) last issued its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS 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, research analysts anticipate that Jazz Pharmaceuticals PLC will post 21.9 EPS for the current year.

Insider Buying and Selling

In other Jazz Pharmaceuticals news, Director Bruce C. Cozadd sold 6,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $240.47, for a total transaction of $1,442,820.00. Following the transaction, the director directly owned 366,682 shares in the company, valued at $88,176,020.54. This trade represents a 1.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena M. Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total value of $278,196.00. Following the sale, the executive vice president directly owned 51,549 shares of the company’s stock, valued at approximately $11,950,604.67. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,098 shares of company stock valued at $3,131,906 over the last 90 days. 4.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on JAZZ. TD Cowen boosted their target price on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Canaccord Genuity Group assumed coverage on shares of Jazz Pharmaceuticals in a research report on Thursday, July 16th. They set a “buy” rating and a $290.00 price objective on the stock. Weiss Ratings raised shares of Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 29th. Truist Financial dropped their target price on Jazz Pharmaceuticals from $256.00 to $254.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada increased their price target on Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $259.06.

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.