Pictet Asset Management Holding SA Lowers Position in Jazz Pharmaceuticals PLC $JAZZ

Pictet Asset Management Holding SA lessened its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 6.2% during the first quarter, Holdings Channel reports. The firm owned 173,250 shares of the specialty pharmaceutical company’s stock after selling 11,446 shares during the period. Pictet Asset Management Holding SA’s holdings in Jazz Pharmaceuticals were worth $31,782,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of JAZZ. Cardinal Capital Management grew its holdings in Jazz Pharmaceuticals by 0.5% during the fourth quarter. Cardinal Capital Management now owns 14,538 shares of the specialty pharmaceutical company’s stock worth $2,471,000 after buying an additional 66 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Jazz Pharmaceuticals by 9.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 983 shares of the specialty pharmaceutical company’s stock valued at $130,000 after acquiring an additional 81 shares in the last quarter. UMB Bank n.a. boosted its holdings in Jazz Pharmaceuticals by 12.6% during the 4th quarter. UMB Bank n.a. now owns 725 shares of the specialty pharmaceutical company’s stock worth $123,000 after acquiring an additional 81 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in Jazz Pharmaceuticals by 0.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 11,203 shares of the specialty pharmaceutical company’s stock worth $1,905,000 after acquiring an additional 83 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of Jazz Pharmaceuticals by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,996 shares of the specialty pharmaceutical company’s stock worth $377,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Analyst Upgrades and Downgrades

JAZZ has been the subject of several analyst reports. TD Cowen increased their target price on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Bank of America upped their price objective on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Leerink Partners increased their price objective 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. Truist Financial set a $256.00 price objective on shares of Jazz Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, June 9th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Jazz Pharmaceuticals in a research report on Tuesday, June 9th. Sixteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $246.06.

Jazz Pharmaceuticals Trading Up 1.4%

Shares of Jazz Pharmaceuticals stock opened at $240.97 on Wednesday. The firm has a market cap of $15.14 billion, a PE ratio of -12,042.48, a P/E/G ratio of 0.21 and a beta of 0.32. Jazz Pharmaceuticals PLC has a 1 year low of $105.00 and a 1 year high of $243.32. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The stock has a fifty day moving average price of $225.97 and a 200-day moving average price of $193.86.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted 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 net margin of 0.66% and a return on equity of 14.56%. The company had revenue of $1.07 billion during the quarter. Equities research analysts anticipate that Jazz Pharmaceuticals PLC will post 22.09 EPS for the current year.

Insider Transactions at Jazz Pharmaceuticals

In related news, Director Rick E. Winningham sold 2,741 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $241.57, for a total value of $662,143.37. Following the sale, the director directly owned 9,567 shares in the company, valued at approximately $2,311,100.19. The trade was a 22.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Heather Ann Mcsharry sold 2,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $241.00, for a total transaction of $482,000.00. Following the sale, the director directly owned 18,449 shares in the company, valued at approximately $4,446,209. This trade represents a 9.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 7,098 shares of company stock worth $1,689,086 over the last 90 days. 4.10% of the stock is owned by insiders.

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.