First Citizens Bank & Trust Co. Buys New Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

First Citizens Bank & Trust Co. acquired a new position in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,561 shares of the specialty pharmaceutical company's stock, valued at approximately $318,000.

A number of other institutional investors also recently made changes to their positions in the business. Choreo LLC increased its stake in shares of Jazz Pharmaceuticals by 58.2% in the fourth quarter. Choreo LLC now owns 2,954 shares of the specialty pharmaceutical company's stock worth $363,000 after buying an additional 1,087 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Jazz Pharmaceuticals by 52.5% in the 4th quarter. Bleakley Financial Group LLC now owns 3,112 shares of the specialty pharmaceutical company's stock worth $383,000 after purchasing an additional 1,071 shares during the last quarter. Moloney Securities Asset Management LLC bought a new stake in shares of Jazz Pharmaceuticals in the 4th quarter worth about $464,000. Savant Capital LLC acquired a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at about $272,000. Finally, Summit Trail Advisors LLC acquired a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at about $539,000. 89.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wall Street Zen lowered Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Piper Sandler reiterated an "overweight" rating and issued a $147.00 target price (down previously from $176.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 7th. Barclays reiterated an "overweight" rating and issued a $200.00 price target (up from $190.00) on shares of Jazz Pharmaceuticals in a report on Thursday, February 27th. Royal Bank of Canada reduced their price objective on Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company upgraded shares of Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $130.00 to $170.00 in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $184.00.

Jazz Pharmaceuticals Stock Performance

NASDAQ:JAZZ traded down $1.79 during mid-day trading on Friday, hitting $108.50. The stock had a trading volume of 478,127 shares, compared to its average volume of 832,918. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46. The company has a 50 day simple moving average of $107.72 and a 200-day simple moving average of $120.66. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.04 and a beta of 0.33. Jazz Pharmaceuticals plc has a 52 week low of $95.49 and a 52 week high of $148.06.

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

Insiders Place Their Bets

In related news, CEO Bruce C. Cozadd sold 1,500 shares of Jazz Pharmaceuticals stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $123.75, for a total transaction of $185,625.00. Following the sale, the chief executive officer now directly owns 440,307 shares in the company, valued at $54,487,991.25. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Seamus Mulligan purchased 1,621 shares of the company's stock in a transaction on Monday, May 12th. The shares were bought at an average price of $103.00 per share, for a total transaction of $166,963.00. Following the completion of the transaction, the director now directly owns 101,621 shares in the company, valued at $10,466,963. This represents a 1.62% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 3,000 shares of company stock worth $355,925. 4.20% of the stock is owned by company 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.