Perpetual Ltd Sells 284,936 Shares of Jazz Pharmaceuticals PLC $JAZZ

Perpetual Ltd cut its holdings in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 32.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 602,647 shares of the specialty pharmaceutical company’s stock after selling 284,936 shares during the quarter. Perpetual Ltd’s holdings in Jazz Pharmaceuticals were worth $79,429,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in JAZZ. Vestal Point Capital LP bought a new position in shares of Jazz Pharmaceuticals during the 2nd quarter valued at $127,344,000. AQR Capital Management LLC lifted its stake in Jazz Pharmaceuticals by 62.1% in the second quarter. AQR Capital Management LLC now owns 794,770 shares of the specialty pharmaceutical company’s stock worth $84,341,000 after purchasing an additional 304,463 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Jazz Pharmaceuticals by 453.9% during the second quarter. Allianz Asset Management GmbH now owns 325,403 shares of the specialty pharmaceutical company’s stock valued at $34,532,000 after buying an additional 266,658 shares during the period. Boston Trust Walden Corp boosted its position in Jazz Pharmaceuticals by 129.1% during the second quarter. Boston Trust Walden Corp now owns 407,897 shares of the specialty pharmaceutical company’s stock valued at $43,286,000 after buying an additional 229,885 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Jazz Pharmaceuticals by 147.7% during 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 buying an additional 209,667 shares during the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Price Performance

JAZZ opened at $166.91 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.44 and a current ratio of 1.65. Jazz Pharmaceuticals PLC has a 52-week low of $95.49 and a 52-week high of $182.99. The stock has a market capitalization of $10.14 billion, a PE ratio of -27.50, a price-to-earnings-growth ratio of 3.77 and a beta of 0.30. The stock’s 50 day moving average price is $153.94 and its 200-day moving average price is $131.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Jazz Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 8th. The Goldman Sachs Group lifted their price target on Jazz Pharmaceuticals from $162.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Piper Sandler reissued an “overweight” rating and set a $219.00 price objective (up previously from $147.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, December 10th. UBS Group reiterated a “neutral” rating and set a $188.00 price target (up from $163.00) on shares of Jazz Pharmaceuticals in a report on Monday, November 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Jazz Pharmaceuticals from $204.00 to $199.00 and set an “overweight” rating for the company in a research report on Monday, October 27th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $200.47.

Insiders Place Their Bets

In other Jazz Pharmaceuticals news, Director Bruce C. Cozadd sold 77,500 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $177.81, for a total transaction of $13,780,275.00. Following the transaction, the director directly owned 393,332 shares of the company’s stock, valued at approximately $69,938,362.92. The trade was a 16.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mary Elizabeth Henderson sold 2,238 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $169.51, for a total transaction of $379,363.38. Following the completion of the transaction, the senior vice president owned 19,508 shares of the company’s stock, valued at $3,306,801.08. This trade represents a 10.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 129,291 shares of company stock valued at $22,745,410 over the last quarter. 4.30% of the stock is owned by company 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.