Truist Financial Corp Sells 21,747 Shares of Jazz Pharmaceuticals PLC $JAZZ

Truist Financial Corp lowered its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 66.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,951 shares of the specialty pharmaceutical company’s stock after selling 21,747 shares during the period. Truist Financial Corp’s holdings in Jazz Pharmaceuticals were worth $1,862,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Jazz Pharmaceuticals by 11.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,836,652 shares of the specialty pharmaceutical company’s stock valued at $373,855,000 after buying an additional 298,815 shares in the last quarter. Ruffer LLP bought a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at $2,425,000. Essex Investment Management Co. LLC bought a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter valued at $2,697,000. Sequoia Financial Advisors LLC bought a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter valued at $605,000. Finally, JPMorgan Chase & Co. increased its position in shares of Jazz Pharmaceuticals by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,867,159 shares of the specialty pharmaceutical company’s stock valued at $246,092,000 after buying an additional 145,865 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.

Insider Activity

In other news, SVP Mary Elizabeth Henderson sold 5,343 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $194.49, for a total transaction of $1,039,160.07. Following the completion of the transaction, the senior vice president directly owned 28,728 shares in the company, valued at $5,587,308.72. This represents a 15.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $190.50, for a total transaction of $1,143,000.00. Following the transaction, the director owned 384,682 shares of the company’s stock, valued at approximately $73,281,921. This represents a 1.54% decrease in their ownership of the stock. 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 90 days, insiders have sold 74,015 shares of company stock worth $14,180,486. 4.30% of the stock is currently owned by insiders.

Jazz Pharmaceuticals Price Performance

JAZZ stock opened at $231.05 on Friday. The stock has a 50-day moving average price of $196.38 and a two-hundred day moving average price of $176.14. The stock has a market cap of $14.50 billion, a PE ratio of -11,546.73, a price-to-earnings-growth ratio of 0.41 and a beta of 0.27. 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 PLC has a 1 year low of $103.60 and a 1 year high of $235.00.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its 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 during the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%. Equities analysts forecast that Jazz Pharmaceuticals PLC will post 20.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

JAZZ has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on shares of Jazz Pharmaceuticals from $250.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a research report on Friday, March 27th. Truist Financial upgraded Jazz Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, March 25th. Robert W. Baird set a $252.00 target price on Jazz Pharmaceuticals in a report on Wednesday, May 6th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $239.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $230.56.

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.