Entropy Technologies LP Has $556,000 Holdings in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Entropy Technologies LP cut its Jazz Pharmaceuticals stake by 89.7% in the first quarter, selling 25,521 shares and retaining 2,942 shares valued at approximately $556,000.
• Despite Entropy’s reduction, other institutions increased their positions substantially, and institutional investors and hedge funds collectively own 89.14% of JAZZ.
• Analysts remain broadly bullish, with a “Moderate Buy” consensus and an average price target of $259.06; several firms recently raised targets as the stock traded near its 52-week high.

Entropy Technologies LP cut its holdings in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 89.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,942 shares of the specialty pharmaceutical company's stock after selling 25,521 shares during the period. Entropy Technologies LP's holdings in Jazz Pharmaceuticals were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vestal Point Capital LP bought a new stake in shares of Jazz Pharmaceuticals in the second quarter worth about $127,344,000. Franklin Resources Inc. lifted its holdings in shares of Jazz Pharmaceuticals by 164.0% during the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company's stock valued at $309,215,000 after purchasing an additional 1,129,995 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Jazz Pharmaceuticals by 160.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company's stock valued at $197,516,000 after purchasing an additional 715,361 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Jazz Pharmaceuticals by 258.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company's stock valued at $93,160,000 after purchasing an additional 395,000 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its position in shares of Jazz Pharmaceuticals by 592.1% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 436,443 shares of the specialty pharmaceutical company's stock valued at $57,523,000 after purchasing an additional 373,383 shares during the period. 89.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Jazz Pharmaceuticals

In other news, EVP Neena M. Patil sold 1,200 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total value of $278,196.00. Following the sale, the executive vice president directly owned 51,549 shares in the company, valued at $11,950,604.67. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce C. Cozadd sold 6,000 shares of the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $240.47, for a total transaction of $1,442,820.00. Following the completion of the sale, the director directly owned 366,682 shares in the company, valued at approximately $88,176,020.54. This represents a 1.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 13,098 shares of company stock worth $3,131,906. 4.10% of the stock is currently owned by corporate insiders.

Jazz Pharmaceuticals Stock Down 0.4%

NASDAQ:JAZZ opened at $255.97 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. The company has a market cap of $16.08 billion, a PE ratio of -12,792.10, a PEG ratio of 0.23 and a beta of 0.32. Jazz Pharmaceuticals PLC has a 52-week low of $105.00 and a 52-week high of $261.30. The stock has a 50-day simple moving average of $238.62 and a 200 day simple moving average of $205.35.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its 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 for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%. On average, sell-side analysts expect that Jazz Pharmaceuticals PLC will post 21.9 EPS for the current fiscal year.

Analysts Set New Price Targets

JAZZ has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Jazz Pharmaceuticals from $250.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Robert W. Baird set a $252.00 price target on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Raymond James Financial reissued an "outperform" rating and set a $239.00 price objective on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Bank of America raised their price objective on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Finally, TD Cowen boosted their price objective on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Jazz Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $259.06.

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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