Bank of America Corp DE Sells 35,641 Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Bank of America Corp DE trimmed its holdings in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 5.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 591,344 shares of the specialty pharmaceutical company's stock after selling 35,641 shares during the period. Bank of America Corp DE owned approximately 0.98% of Jazz Pharmaceuticals worth $72,824,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in JAZZ. Algert Global LLC acquired a new stake in Jazz Pharmaceuticals during the fourth quarter valued at approximately $1,682,000. Ameriprise Financial Inc. lifted its position in shares of Jazz Pharmaceuticals by 20.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,827,658 shares of the specialty pharmaceutical company's stock worth $225,076,000 after buying an additional 315,608 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Jazz Pharmaceuticals in the 4th quarter valued at $28,091,000. AXA S.A. bought a new stake in Jazz Pharmaceuticals in the fourth quarter valued at $4,747,000. Finally, AQR Arbitrage LLC bought a new position in shares of Jazz Pharmaceuticals during the fourth quarter valued at $5,150,000. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Trading Up 2.7%

Shares of JAZZ traded up $2.91 during trading hours on Friday, hitting $108.98. 1,065,885 shares of the stock traded hands, compared to its average volume of 843,983. The business has a fifty day moving average of $116.29 and a 200-day moving average of $121.97. The firm has a market capitalization of $6.72 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.04 and a beta of 0.38. Jazz Pharmaceuticals plc has a 1-year low of $95.49 and a 1-year high of $148.06. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 earnings per share for the quarter, missing the consensus estimate of $4.65 by ($2.97). The firm had revenue of $897.84 million for the quarter, compared to the consensus estimate of $984.16 million. Jazz Pharmaceuticals had a return on equity of 29.30% and a net margin of 11.60%. The business's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.68 earnings per share. Analysts expect that Jazz Pharmaceuticals plc will post 16.96 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Jazz Pharmaceuticals from $183.00 to $166.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of Jazz Pharmaceuticals from $200.00 to $209.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. StockNews.com cut shares of Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday. Cantor Fitzgerald lowered Jazz Pharmaceuticals from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, February 26th. Finally, UBS Group raised Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and raised their price target for the company from $145.00 to $179.00 in a report on Friday, March 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $182.79.

Insider Buying and Selling at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 4,813 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $144.42, for a total transaction of $695,093.46. Following the completion of the sale, the chief accounting officer now owns 8,237 shares in the company, valued at approximately $1,189,587.54. The trade was a 36.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Seamus Mulligan bought 1,621 shares of the business's stock in a transaction on Monday, May 12th. The stock was bought at an average cost of $103.00 per share, for a total transaction of $166,963.00. Following the purchase, the director now directly owns 101,621 shares of the company's stock, valued at approximately $10,466,963. This trade represents a 1.62% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 28,236 shares of company stock valued at $3,956,190. 4.20% of the stock is currently owned by insiders.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.