Swedbank AB Cuts Stake in Jazz Pharmaceuticals PLC $JAZZ

Swedbank AB lessened its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 10.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 992,108 shares of the specialty pharmaceutical company’s stock after selling 110,866 shares during the period. Swedbank AB owned 1.58% of Jazz Pharmaceuticals worth $187,558,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JAZZ. Ruffer LLP acquired a new position in Jazz Pharmaceuticals during the 4th quarter worth approximately $2,425,000. Iron Triangle Partners LP acquired a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter valued at approximately $19,770,000. Goldentree Asset Management LP acquired a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter valued at approximately $149,597,000. Faithward Advisors LLC boosted its stake in shares of Jazz Pharmaceuticals by 93.4% in the third quarter. Faithward Advisors LLC now owns 27,904 shares of the specialty pharmaceutical company’s stock valued at $3,678,000 after buying an additional 13,475 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Jazz Pharmaceuticals by 68.2% in the fourth quarter. Allianz Asset Management GmbH now owns 598,832 shares of the specialty pharmaceutical company’s stock valued at $101,801,000 after buying an additional 242,892 shares in the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JAZZ. Piper Sandler increased their price objective on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Sanford C. Bernstein restated a “market perform” rating on shares of Jazz Pharmaceuticals in a research report on Tuesday, June 9th. Robert W. Baird set a $252.00 price target on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 6th. Truist Financial cut their price target on shares of Jazz Pharmaceuticals from $256.00 to $254.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $245.00 price objective on shares of Jazz Pharmaceuticals in a research note on Thursday, May 7th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $245.94.

Insider Activity

In related news, Director Rick E. Winningham sold 2,741 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $241.57, for a total value of $662,143.37. Following the sale, the director owned 9,567 shares of the company’s stock, valued at approximately $2,311,100.19. This represents a 22.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $240.47, for a total value of $1,442,820.00. Following the sale, the director owned 366,682 shares in the company, valued at approximately $88,176,020.54. This trade represents a 1.61% 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. Over the last three months, insiders sold 13,098 shares of company stock worth $3,131,906. 4.10% of the stock is owned by corporate insiders.

Jazz Pharmaceuticals Price Performance

NASDAQ:JAZZ traded up $2.27 during mid-day trading on Tuesday, hitting $246.44. 198,007 shares of the company’s stock traded hands, compared to its average volume of 976,480. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. The company has a market cap of $15.48 billion, a PE ratio of -12,315.99, a price-to-earnings-growth ratio of 0.21 and a beta of 0.32. The firm’s 50 day simple moving average is $229.26 and its 200 day simple moving average is $195.95. Jazz Pharmaceuticals PLC has a 1 year low of $105.00 and a 1 year high of $246.07.

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 company 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%. Sell-side analysts expect that Jazz Pharmaceuticals PLC will post 22.09 EPS for the current year.

Jazz Pharmaceuticals Profile

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.