SummitTX Capital L.P. Reduces Holdings in Jazz Pharmaceuticals PLC $JAZZ

SummitTX Capital L.P. decreased its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 42.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,222 shares of the specialty pharmaceutical company’s stock after selling 53,573 shares during the period. SummitTX Capital L.P. owned approximately 0.12% of Jazz Pharmaceuticals worth $13,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. LRI Investments LLC bought a new stake in Jazz Pharmaceuticals during the 4th quarter valued at approximately $38,000. Danske Bank A S purchased a new position in Jazz Pharmaceuticals during the third quarter valued at $40,000. Geneos Wealth Management Inc. grew its position in shares of Jazz Pharmaceuticals by 57.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after buying an additional 137 shares during the period. Caitong International Asset Management Co. Ltd increased 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 worth $47,000 after acquiring an additional 332 shares in the last quarter. Finally, Leonteq Securities AG purchased a new position in Jazz Pharmaceuticals during the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ opened at $253.87 on Monday. The company has a market cap of $15.95 billion, a price-to-earnings ratio of -12,687.16, a P/E/G ratio of 0.22 and a beta of 0.32. The business’s fifty day simple moving average is $237.37 and its two-hundred day simple moving average is $203.44. Jazz Pharmaceuticals PLC has a 12 month low of $105.00 and a 12 month high of $256.75. The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter. The firm had revenue of $1.07 billion for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. Research analysts anticipate that Jazz Pharmaceuticals PLC will post 21.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Rick E. Winningham sold 2,741 shares of Jazz Pharmaceuticals stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $241.57, for a total transaction of $662,143.37. Following the transaction, the director owned 9,567 shares in the company, valued at $2,311,100.19. This trade represents a 22.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark Douglas Smith sold 1,157 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $230.55, for a total transaction of $266,746.35. Following the sale, the director directly owned 9,680 shares of the company’s stock, valued at approximately $2,231,724. The trade was a 10.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 13,098 shares of company stock valued at $3,131,906. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

JAZZ has been the subject of a number of analyst reports. Leerink Partners raised their target price 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. Bank of America raised their price objective on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Needham & Company LLC boosted their target price on Jazz Pharmaceuticals from $255.00 to $282.00 and gave the stock a “buy” rating in a report on Monday, July 20th. UBS Group raised Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their target price for the stock from $188.00 to $307.00 in a research note on Tuesday, May 19th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Jazz Pharmaceuticals in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $259.06.

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.