Goldentree Asset Management LP Invests $149.60 Million in Jazz Pharmaceuticals PLC $JAZZ

Goldentree Asset Management LP acquired a new stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) in the third quarter, Holdings Channel.com reports. The firm acquired 1,137,106 shares of the specialty pharmaceutical company’s stock, valued at approximately $149,597,000. Jazz Pharmaceuticals makes up about 12.4% of Goldentree Asset Management LP’s investment portfolio, making the stock its 2nd largest position.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of Jazz Pharmaceuticals by 96.5% during the 1st quarter. Royal Bank of Canada now owns 67,614 shares of the specialty pharmaceutical company’s stock worth $8,394,000 after purchasing an additional 33,210 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Jazz Pharmaceuticals by 147.7% in the first quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company’s stock valued at $43,652,000 after purchasing an additional 209,667 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Jazz Pharmaceuticals by 4.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,174 shares of the specialty pharmaceutical company’s stock valued at $24,479,000 after purchasing an additional 7,954 shares in the last quarter. Focus Partners Wealth lifted its position in Jazz Pharmaceuticals by 3.4% in the first quarter. Focus Partners Wealth now owns 4,623 shares of the specialty pharmaceutical company’s stock worth $574,000 after purchasing an additional 154 shares during the period. Finally, Geneos Wealth Management Inc. lifted 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 worth $47,000 after purchasing an additional 137 shares during the period. 89.14% of the stock is owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Stock Performance

Jazz Pharmaceuticals stock opened at $180.45 on Thursday. The firm has a market capitalization of $11.11 billion, a P/E ratio of -30.23, a P/E/G ratio of 0.33 and a beta of 0.22. The stock has a fifty day moving average price of $172.99 and a two-hundred day moving average price of $157.36. Jazz Pharmaceuticals PLC has a 52-week low of $95.49 and a 52-week high of $198.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.86 and a quick ratio of 1.67.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its earnings results on Tuesday, February 24th. The specialty pharmaceutical company reported $6.64 EPS for the quarter, beating the consensus estimate of $6.49 by $0.15. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.51 EPS. As a group, analysts anticipate that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current fiscal year.

Insider Activity

In other news, EVP Neena M. Patil sold 55,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $191.56, for a total transaction of $10,650,736.00. Following the completion of the sale, the executive vice president owned 56,862 shares of the company’s stock, valued at approximately $10,892,484.72. This trade represents a 49.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Patricia Carr sold 1,287 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $182.94, for a total transaction of $235,443.78. Following the completion of the transaction, the chief accounting officer owned 6,512 shares of the company’s stock, valued at $1,191,305.28. This trade represents a 16.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 68,015 shares of company stock valued at $13,037,486 in the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on JAZZ shares. UBS Group reissued a “neutral” rating and issued a $188.00 price target (up from $163.00) on shares of Jazz Pharmaceuticals in a report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a report on Monday, December 29th. Royal Bank Of Canada lifted their target price on shares of Jazz Pharmaceuticals from $191.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Needham & Company LLC upped their target price on shares of Jazz Pharmaceuticals from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $219.00 price target (up from $147.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, December 10th. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.38.

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.