IFP Advisors Inc Has $8.24 Million Holdings in Jazz Pharmaceuticals PLC $JAZZ

IFP Advisors Inc lessened its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 12.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,193 shares of the specialty pharmaceutical company’s stock after selling 4,955 shares during the quarter. IFP Advisors Inc’s holdings in Jazz Pharmaceuticals were worth $8,239,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of JAZZ. Allianz Asset Management GmbH grew its holdings in Jazz Pharmaceuticals by 68.2% during the 4th quarter. Allianz Asset Management GmbH now owns 598,832 shares of the specialty pharmaceutical company’s stock worth $101,801,000 after acquiring an additional 242,892 shares during the period. Castleark Management LLC acquired a new position in shares of Jazz Pharmaceuticals in the 1st quarter valued at $9,214,000. Bank of America Corp DE boosted its position in shares of Jazz Pharmaceuticals by 10.9% in the 1st 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. SEB Asset Management AB bought a new position in shares of Jazz Pharmaceuticals in the 1st quarter worth $8,765,000. Finally, Swedbank AB grew its stake in shares of Jazz Pharmaceuticals by 2.7% during the fourth quarter. Swedbank AB now owns 1,102,974 shares of the specialty pharmaceutical company’s stock worth $187,506,000 after purchasing an additional 28,882 shares during the period. Institutional investors and hedge funds own 89.14% of the company’s stock.

Insider Activity at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, EVP Robert Iannone sold 76,921 shares of Jazz Pharmaceuticals stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $249.70, for a total value of $19,207,173.70. Following the sale, the executive vice president directly owned 65,686 shares in the company, valued at approximately $16,401,794.20. The trade was a 53.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mark Smith sold 1,157 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was 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 in the company, valued at $2,231,724. This trade 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 90 days, insiders sold 96,078 shares of company stock valued at $23,935,400. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC upped their price objective on Jazz Pharmaceuticals from $292.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Sanford C. Bernstein restated a “market perform” rating on shares of Jazz Pharmaceuticals in a report on Tuesday, June 9th. UBS Group restated a “buy” rating and set a $315.00 target price on shares of Jazz Pharmaceuticals in a research report on Tuesday, August 4th. JPMorgan Chase & Co. upped their price target on Jazz Pharmaceuticals from $265.00 to $276.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Finally, Robert W. Baird lifted their price objective on shares of Jazz Pharmaceuticals from $252.00 to $280.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Jazz Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $285.44.

Jazz Pharmaceuticals Trading Up 0.5%

NASDAQ:JAZZ opened at $241.31 on Thursday. The company has a market cap of $15.67 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 0.22 and a beta of 0.36. Jazz Pharmaceuticals PLC has a twelve month low of $123.88 and a twelve month high of $266.38. The business has a 50 day moving average price of $249.38 and a two-hundred day moving average price of $223.09. The company has a quick ratio of 1.58, a current ratio of 1.78 and a debt-to-equity ratio of 0.69.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings data on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.18 by ($0.47). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. Jazz Pharmaceuticals’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the business earned ($8.25) earnings per share. As a group, analysts expect that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current fiscal year.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) is a global biopharmaceutical company focused on developing and commercializing medicines for disorders in neuroscience and oncology. The company concentrates on conditions with significant unmet medical needs, including sleep disorders, epilepsy, rare diseases and certain cancers.

Its neuroscience portfolio includes Xywav and Xyrem, oxybate-based treatments for narcolepsy, with Xywav also indicated for idiopathic hypersomnia in adults. Jazz also markets Epidiolex in the United States, known as Epidyolex in some international markets, a cannabidiol-based medicine for seizures associated with Lennox-Gastaut syndrome, Dravet syndrome and tuberous sclerosis complex.

In oncology, Jazz’s products include Rylaze, an asparaginase therapy used as part of treatment for acute lymphoblastic leukemia and lymphoblastic lymphoma; Zepzelca, used for certain patients with metastatic small cell lung cancer; and Vyxeos, a chemotherapy formulation for certain cases of newly diagnosed therapy-related acute myeloid leukemia or AML with myelodysplasia-related changes.