Bank of New York Mellon Corp Purchases 715,361 Shares of Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Bank of New York Mellon increased its stake in Jazz Pharmaceuticals by 160.2% in the fourth quarter, buying 715,361 additional shares and bringing its total holding to 1,161,857 shares worth about $197.5 million.
• Several other institutional investors also added to or initiated positions in JAZZ, and the stock remains heavily institutionally owned at 89.14%.
• Analysts remain generally positive on Jazz Pharmaceuticals, with a Moderate Buy consensus and an average target price of $242.65, even as insiders have recently sold shares and the stock traded near its 52-week high.

Bank of New York Mellon Corp raised its position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 160.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,161,857 shares of the specialty pharmaceutical company's stock after purchasing an additional 715,361 shares during the period. Bank of New York Mellon Corp owned about 1.91% of Jazz Pharmaceuticals worth $197,516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of JAZZ. Hilltop National Bank bought a new stake in Jazz Pharmaceuticals during the 4th quarter valued at $36,000. LRI Investments LLC bought a new stake in Jazz Pharmaceuticals during the 4th quarter valued at $38,000. Danske Bank A S bought a new stake in Jazz Pharmaceuticals during the 3rd quarter valued at $40,000. Geneos Wealth Management Inc. raised its position in Jazz Pharmaceuticals by 57.6% during 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 raised its position in Jazz Pharmaceuticals by 1,383.3% during 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. 89.14% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Rick E. Winningham sold 2,741 shares of the business's stock in a transaction 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 completion of the transaction, the director directly owned 9,567 shares of the company's stock, valued at approximately $2,311,100.19. The trade was a 22.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce C. Cozadd sold 6,000 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $190.50, for a total value of $1,143,000.00. Following the completion of the transaction, the director directly owned 384,682 shares of the company's stock, valued at approximately $73,281,921. The trade was a 1.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 12,028 shares of company stock valued at $2,522,587. 4.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on JAZZ. TD Cowen lifted their target price on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Raymond James Financial reaffirmed an "outperform" rating and set a $239.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Bank of America lifted their target price on Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday, February 25th. Sanford C. Bernstein began coverage on Jazz Pharmaceuticals in a research report on Thursday, May 21st. They set a "market perform" rating and a $229.00 target price for the company. Finally, Truist Financial raised Jazz Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $242.65.

Jazz Pharmaceuticals Trading Down 0.6%

JAZZ opened at $238.57 on Friday. The firm has a market cap of $14.97 billion, a price-to-earnings ratio of -11,922.54, a PEG ratio of 0.23 and a beta of 0.32. 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 12 month low of $105.00 and a 12 month high of $243.32. The stock has a fifty day moving average price of $213.11 and a 200-day moving average price of $186.89.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 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%. As a group, equities research analysts anticipate that Jazz Pharmaceuticals PLC will post 21.59 earnings per share for the current fiscal year.

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.

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