JW Asset Management LLC Purchases New Stake in Jazz Pharmaceuticals PLC $JAZZ

JW Asset Management LLC acquired a new position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) in the third quarter, HoldingsChannel reports. The firm acquired 11,000 shares of the specialty pharmaceutical company’s stock, valued at approximately $2,547,000. Jazz Pharmaceuticals comprises about 1.1% of JW Asset Management LLC’s holdings, making the stock its 14th largest position.

A number of other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in shares of Jazz Pharmaceuticals by 44.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company’s stock valued at $317,485,000 after purchasing an additional 517,514 shares during the last quarter. Bank of America Corp DE lifted its stake in Jazz Pharmaceuticals by 10.9% in the first quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company’s stock worth $191,848,000 after purchasing an additional 99,656 shares during the last quarter. Systematic Financial Management LP lifted its stake in Jazz Pharmaceuticals by 2.6% in the first quarter. Systematic Financial Management LP now owns 407,114 shares of the specialty pharmaceutical company’s stock worth $76,965,000 after purchasing an additional 10,237 shares during the last quarter. Retirement Systems of Alabama boosted its position in Jazz Pharmaceuticals by 7.6% during the third quarter. Retirement Systems of Alabama now owns 171,801 shares of the specialty pharmaceutical company’s stock valued at $39,775,000 after buying an additional 12,138 shares during the period. Finally, Quantinno Capital Management LP grew its stake in shares of Jazz Pharmaceuticals by 9.7% during the first quarter. Quantinno Capital Management LP now owns 191,286 shares of the specialty pharmaceutical company’s stock valued at $36,163,000 after buying an additional 16,928 shares during the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Insider Activity

In other news, EVP Neena Patil sold 1,200 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $240.94, for a total transaction of $289,128.00. Following the completion of the sale, the executive vice president directly owned 47,671 shares in the company, valued at approximately $11,485,850.74. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Renée Galá sold 2,000 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $243.03, for a total transaction of $486,060.00. Following the sale, the chief executive officer owned 143,394 shares of the company’s stock, valued at approximately $34,849,043.82. This represents a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 171,342 shares of company stock valued at $41,420,491. 4.10% of the stock is owned by corporate insiders.

Jazz Pharmaceuticals Trading Down 3.2%

NASDAQ:JAZZ opened at $240.37 on Friday. The firm has a market capitalization of $15.43 billion, a P/E ratio of 22.01, a P/E/G ratio of 0.45 and a beta of 0.38. The company has a quick ratio of 1.64, a current ratio of 1.82 and a debt-to-equity ratio of 1.09. The company has a fifty day moving average of $229.25 and a 200 day moving average of $219.25. Jazz Pharmaceuticals PLC has a 52 week low of $136.55 and a 52 week high of $266.38.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank Of Canada lifted their price objective on Jazz Pharmaceuticals from $296.00 to $305.00 and gave the stock an “outperform” rating in a report on Tuesday, November 3rd. TD Cowen increased their target price on Jazz Pharmaceuticals from $275.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Wells Fargo & Company increased their target price on Jazz Pharmaceuticals from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Deutsche Bank raised their price target on Jazz Pharmaceuticals from $287.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Finally, Needham & Company LLC lifted their price target on Jazz Pharmaceuticals from $292.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $294.00.

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.