BTC Capital Management Inc. Sells 3,814 Shares of Jazz Pharmaceuticals PLC $JAZZ

BTC Capital Management Inc. cut its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,734 shares of the specialty pharmaceutical company’s stock after selling 3,814 shares during the quarter. BTC Capital Management Inc.’s holdings in Jazz Pharmaceuticals were worth $8,268,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in JAZZ. Vestal Point Capital LP purchased a new stake in shares of Jazz Pharmaceuticals during the 2nd quarter worth $127,344,000. Goldentree Asset Management LP purchased a new position in Jazz Pharmaceuticals in the third quarter valued at about $149,597,000. Franklin Resources Inc. grew its stake in Jazz Pharmaceuticals by 164.0% in the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock valued at $309,215,000 after purchasing an additional 1,129,995 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Jazz Pharmaceuticals by 160.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company’s stock worth $197,516,000 after purchasing an additional 715,361 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Jazz Pharmaceuticals by 258.2% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock worth $93,160,000 after purchasing an additional 395,000 shares in the last quarter. 89.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

JAZZ has been the subject of several analyst reports. Leerink Partners increased their price target on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada lifted their price objective on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Jazz Pharmaceuticals in a research note on Tuesday, June 9th. Piper Sandler increased their target price on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Finally, Raymond James Financial restated an “outperform” rating and issued a $239.00 target price on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 6th. Sixteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $246.06.

Jazz Pharmaceuticals Trading Down 0.2%

Jazz Pharmaceuticals stock opened at $229.85 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. The stock has a market cap of $14.44 billion, a PE ratio of -11,486.76, a price-to-earnings-growth ratio of 0.20 and a beta of 0.32. The stock has a 50-day moving average of $223.30 and a two-hundred day moving average of $191.97. Jazz Pharmaceuticals PLC has a one year low of $105.00 and a one year high of $243.32.

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

Insider Buying and Selling

In related news, Director Heather Ann Mcsharry sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $241.00, for a total value of $482,000.00. Following the completion of the sale, the director directly owned 18,449 shares in the company, valued at $4,446,209. This trade represents a 9.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rick E. Winningham sold 2,741 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $241.57, for a total transaction of $662,143.37. Following the sale, the director directly owned 9,567 shares in the company, valued at approximately $2,311,100.19. This represents a 22.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 13,098 shares of company stock worth $2,832,086 over the last ninety days. Company insiders own 4.10% of the company’s stock.

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.