Cercano Management LLC Takes Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Cercano Management LLC bought a new stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 112,370 shares of the specialty pharmaceutical company's stock, valued at approximately $13,838,000. Cercano Management LLC owned about 0.19% of Jazz Pharmaceuticals as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in JAZZ. Moloney Securities Asset Management LLC acquired a new position in Jazz Pharmaceuticals in the fourth quarter valued at about $464,000. Franklin Resources Inc. boosted its stake in Jazz Pharmaceuticals by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,118,688 shares of the specialty pharmaceutical company's stock worth $124,208,000 after acquiring an additional 48,708 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in Jazz Pharmaceuticals by 13.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 35,894 shares of the specialty pharmaceutical company's stock valued at $4,420,000 after purchasing an additional 4,332 shares during the period. BTC Capital Management Inc. increased its stake in Jazz Pharmaceuticals by 9.4% in the fourth quarter. BTC Capital Management Inc. now owns 49,653 shares of the specialty pharmaceutical company's stock valued at $6,115,000 after purchasing an additional 4,271 shares in the last quarter. Finally, Summit Trail Advisors LLC acquired a new stake in Jazz Pharmaceuticals in the fourth quarter worth $539,000. Institutional investors and hedge funds own 89.14% of the company's stock.

Insider Activity

In other news, CAO Patricia Carr sold 4,813 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $144.42, for a total value of $695,093.46. Following the completion of the sale, the chief accounting officer now directly owns 8,237 shares of the company's stock, valued at $1,189,587.54. This trade represents a 36.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Robert Iannone sold 7,080 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $138.60, for a total value of $981,288.00. Following the transaction, the chief marketing officer now directly owns 82,024 shares in the company, valued at $11,368,526.40. The trade was a 7.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,236 shares of company stock valued at $3,956,190. 4.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on JAZZ shares. Truist Financial boosted their price target on shares of Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Cantor Fitzgerald downgraded 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 report on Wednesday, February 26th. Robert W. Baird cut their price objective on Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating on the stock in a report on Wednesday. StockNews.com cut Jazz Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Finally, Needham & Company LLC restated a "buy" rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $182.79.

Jazz Pharmaceuticals Stock Down 0.6 %

JAZZ traded down $0.60 on Friday, hitting $97.81. 1,217,193 shares of the company were exchanged, compared to its average volume of 833,461. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26. The stock's fifty day moving average is $118.96 and its 200-day moving average is $122.19. The company has a market cap of $6.03 billion, a PE ratio of 13.78, a PEG ratio of 1.04 and a beta of 0.38. Jazz Pharmaceuticals plc has a 12 month low of $95.49 and a 12 month high of $148.06.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its earnings results 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). Jazz Pharmaceuticals had a net margin of 11.60% and a return on equity of 29.30%. The firm had revenue of $897.84 million during the quarter, compared to the consensus estimate of $984.16 million. During the same period in the prior year, the business posted $2.68 earnings per share. Jazz Pharmaceuticals's quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts predict that Jazz Pharmaceuticals plc will post 16.96 EPS for the current fiscal year.

About Jazz Pharmaceuticals

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.