Convergence Investment Partners LLC Boosts Holdings in Jazz Pharmaceuticals PLC $JAZZ

Convergence Investment Partners LLC lifted its position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 34.3% in the first quarter, Holdings Channel reports. The institutional investor owned 15,285 shares of the specialty pharmaceutical company’s stock after acquiring an additional 3,905 shares during the quarter. Convergence Investment Partners LLC’s holdings in Jazz Pharmaceuticals were worth $2,890,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in JAZZ. Hilltop National Bank acquired a new position in Jazz Pharmaceuticals in the fourth quarter valued at approximately $36,000. LRI Investments LLC acquired a new stake in Jazz Pharmaceuticals during the fourth quarter worth $38,000. Danske Bank A S purchased a new stake in Jazz Pharmaceuticals in the third quarter valued at $40,000. Geneos Wealth Management Inc. raised its position in Jazz Pharmaceuticals by 57.6% in the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock valued at $47,000 after purchasing an additional 137 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of Jazz Pharmaceuticals by 1,383.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company’s stock valued at $47,000 after purchasing an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Insiders Place Their Bets

In related news, Director Heather Ann Mcsharry sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $241.00, for a total value of $482,000.00. Following the completion of the transaction, the director directly owned 18,449 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Also, Director Mark Douglas Smith sold 1,157 shares of Jazz Pharmaceuticals stock in a transaction on Monday, June 15th. The stock was sold at an average price of $230.55, for a total value of $266,746.35. Following the transaction, the director directly owned 9,680 shares of the company’s stock, valued at approximately $2,231,724. This represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 13,098 shares of company stock worth $3,131,906. 4.10% of the stock is owned by insiders.

Jazz Pharmaceuticals Trading Down 1.6%

JAZZ opened at $243.47 on Tuesday. 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 PLC has a 52 week low of $105.00 and a 52 week high of $250.49. The business’s 50 day moving average is $235.51 and its two-hundred day moving average is $201.15. The firm has a market cap of $15.29 billion, a price-to-earnings ratio of -12,167.42, a price-to-earnings-growth ratio of 0.22 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) 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. On average, research analysts predict that Jazz Pharmaceuticals PLC will post 21.9 EPS for the current year.

Analyst Upgrades and Downgrades

JAZZ has been the subject of a number of research analyst reports. Piper Sandler increased their price target on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Truist Financial reduced their price objective on shares of Jazz Pharmaceuticals from $256.00 to $254.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Raymond James Financial reaffirmed an “outperform” rating and issued a $239.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Robert W. Baird set a $252.00 target price on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 6th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $245.00 price target on shares of Jazz Pharmaceuticals in a research report on Thursday, May 7th. One 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.