Jazz Pharmaceuticals PLC $JAZZ Stock Bought by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 7.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 171,801 shares of the specialty pharmaceutical company’s stock after purchasing an additional 12,138 shares during the period. Retirement Systems of Alabama’s holdings in Jazz Pharmaceuticals were worth $39,775,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of JAZZ. Allspring Global Investments Holdings LLC lifted its holdings in shares of Jazz Pharmaceuticals by 1,326.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,056 shares of the specialty pharmaceutical company’s stock worth $10,732,000 after acquiring an additional 42,827 shares during the last quarter. Point Nemo Capital LLC bought a new position in shares of Jazz Pharmaceuticals during the 3rd quarter valued at $1,345,000. Ethic Inc. purchased a new position in Jazz Pharmaceuticals in the 3rd quarter worth $1,265,000. Pictet Asset Management Holding SA raised its position in Jazz Pharmaceuticals by 1.0% in the 3rd quarter. Pictet Asset Management Holding SA now owns 149,115 shares of the specialty pharmaceutical company’s stock worth $34,640,000 after purchasing an additional 1,516 shares during the period. Finally, Pegasus Asset Management Inc. purchased a new position in Jazz Pharmaceuticals in the 3rd quarter worth $3,664,000. 89.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on JAZZ. Stifel Nicolaus set a $275.00 price target on shares of Jazz Pharmaceuticals in a research note on Tuesday, August 4th. Barclays increased their target price on Jazz Pharmaceuticals from $271.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Needham & Company LLC raised their price target on Jazz Pharmaceuticals from $292.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Piper Sandler lifted their price target on Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings downgraded Jazz Pharmaceuticals from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $293.00.

Jazz Pharmaceuticals Stock Up 0.8%

Shares of NASDAQ:JAZZ opened at $245.43 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.64 and a current ratio of 1.82. The firm has a market capitalization of $15.75 billion, a P/E ratio of 83.48, a P/E/G ratio of 0.44 and a beta of 0.38. The stock has a 50 day moving average price of $229.26 and a 200-day moving average price of $218.48. Jazz Pharmaceuticals PLC has a 52-week low of $132.10 and a 52-week high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its earnings results on Monday, November 2nd. The specialty pharmaceutical company reported ($3.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.03) by $0.15. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.21 billion. Jazz Pharmaceuticals had a net margin of 4.37% and a return on equity of 16.88%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $8.13 earnings per share. As a group, equities research analysts anticipate that Jazz Pharmaceuticals PLC will post 11.08 EPS for the current fiscal year.

Insider Activity

In related news, EVP Neena Patil sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $240.94, for a total value of $289,128.00. Following the sale, the executive vice president owned 47,671 shares in the company, valued at approximately $11,485,850.74. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Robert Iannone sold 76,921 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $249.70, for a total value of $19,207,173.70. Following the completion of the transaction, the executive vice president owned 65,686 shares in the company, valued at approximately $16,401,794.20. This trade represents a 53.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 171,342 shares of company stock worth $41,420,491. 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 medicines for serious diseases, particularly in neuroscience and oncology. Founded in 2003, the company is headquartered in Dublin, Ireland, and serves patients in the United States and international markets. Its products include treatments for sleep disorders and seizure conditions, such as Xywav, Xyrem, Sunosi and Epidiolex. Jazz also offers medicines used in cancer care, including Zepzelca, Vyxeos and Rylaze, as well as Defitelio for a serious complication following stem cell transplantation.