Allianz Asset Management GmbH Boosts Stock Position in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Allianz Asset Management GmbH increased its stake in Jazz Pharmaceuticals by 68.2% in the fourth quarter, ending with 598,832 shares valued at about $101.8 million.
• Several analysts turned more positive on JAZZ, with upgrades and higher price targets from firms including Bank of America and UBS. The stock now carries a Moderate Buy consensus and an average target price of $246.06.
• Jazz Pharmaceuticals recently traded around $229.63 and reported quarterly earnings of $6.34 per share on $1.07 billion in revenue. Despite recent insider selling, the company remains heavily owned by institutions, which hold 89.14% of shares.

Allianz Asset Management GmbH boosted its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 68.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 598,832 shares of the specialty pharmaceutical company's stock after buying an additional 242,892 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.99% of Jazz Pharmaceuticals worth $101,801,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in JAZZ. Hilltop National Bank purchased a new position in shares of Jazz Pharmaceuticals during the fourth quarter worth about $36,000. LRI Investments LLC purchased a new stake in Jazz Pharmaceuticals in the 4th quarter valued at approximately $38,000. Danske Bank A S purchased a new stake in Jazz Pharmaceuticals in the 3rd quarter valued at approximately $40,000. Geneos Wealth Management Inc. boosted its holdings in Jazz Pharmaceuticals by 57.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company's stock valued at $47,000 after purchasing an additional 137 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Jazz Pharmaceuticals by 1,383.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company's stock valued at $47,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 89.14% of the company's stock.

Analyst Upgrades and Downgrades

JAZZ has been the topic of a number of analyst reports. Bank of America lifted their price objective on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a "buy" rating in a report on Wednesday. UBS Group raised Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $188.00 to $307.00 in a report on Tuesday, May 19th. Truist Financial set a $256.00 price objective on Jazz Pharmaceuticals and gave the company a "buy" rating in a report on Tuesday. Raymond James Financial reiterated an "outperform" rating and set a $239.00 price target on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Finally, Sanford C. Bernstein reiterated a "market perform" rating on shares of Jazz Pharmaceuticals in a research report on Tuesday. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $246.06.

Jazz Pharmaceuticals Trading Up 0.2%

Shares of JAZZ opened at $229.63 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The firm has a 50 day simple moving average of $215.82 and a 200-day simple moving average of $188.13. Jazz Pharmaceuticals PLC has a 1-year low of $105.00 and a 1-year high of $243.32. The stock has a market cap of $14.43 billion, a price-to-earnings ratio of -11,475.76, a price-to-earnings-growth ratio of 0.22 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The business had revenue of $1.07 billion during the quarter. Equities analysts forecast that Jazz Pharmaceuticals PLC will post 21.59 EPS for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In other news, Director Heather Ann Mcsharry sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $241.00, for a total transaction of $482,000.00. Following the completion of the transaction, the director directly owned 18,449 shares of the company's stock, valued at $4,446,209. This trade represents a 9.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rick E. Winningham sold 2,741 shares of the firm'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 transaction of $662,143.37. Following the transaction, the director directly owned 9,567 shares of the company's stock, valued at approximately $2,311,100.19. This trade represents a 22.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,741 shares of company stock valued at $2,287,143 in the last ninety days. Corporate insiders own 4.30% of the company's stock.

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.

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