First Trust Advisors LP Increases Holdings in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• First Trust Advisors more than doubled its Jazz Pharmaceuticals position in the first quarter, increasing holdings by 108% to 91,302 shares valued at approximately $17.3 million. Institutional investors collectively own 89.14% of the company.
• Wall Street maintains a positive outlook, with an overall “Moderate Buy” rating and a consensus price target of $259.06; several firms recently raised their targets, including Bank of America to $307.
• JAZZ shares opened at $255.97, near their 52-week high of $261.30, while insiders sold 13,098 shares worth approximately $3.13 million during the last quarter. Jazz reported quarterly revenue of $1.07 billion and earnings of $6.34 per share.

First Trust Advisors LP increased its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 108.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,302 shares of the specialty pharmaceutical company's stock after buying an additional 47,402 shares during the quarter. First Trust Advisors LP owned 0.15% of Jazz Pharmaceuticals worth $17,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. LRI Investments LLC bought a new position in Jazz Pharmaceuticals during the fourth quarter valued at approximately $38,000. Danske Bank A S bought a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter worth approximately $40,000. Geneos Wealth Management Inc. lifted its holdings in shares of Jazz Pharmaceuticals by 57.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company's stock worth $47,000 after acquiring an additional 137 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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. Finally, Leonteq Securities AG purchased a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 89.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on JAZZ. Robert W. Baird set a $252.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Bank of America upped their price target on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. Piper Sandler raised their price objective on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an "overweight" rating in a research note on Friday, May 22nd. Leerink Partners lifted their price objective on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Finally, TD Cowen lifted their price objective on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $259.06.

Insider Activity

In other news, Director Mark Douglas Smith sold 1,157 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $230.55, for a total transaction of $266,746.35. Following the completion of the transaction, the director directly owned 9,680 shares of the company's stock, valued at approximately $2,231,724. This represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heather Ann Mcsharry sold 2,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $241.00, for a total transaction of $482,000.00. Following the sale, the director owned 18,449 shares of the company's stock, valued at approximately $4,446,209. This represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 13,098 shares of company stock valued at $3,131,906. 4.10% of the stock is owned by corporate insiders.

Jazz Pharmaceuticals Stock Down 0.4%

Shares of NASDAQ JAZZ opened at $255.97 on Thursday. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95. Jazz Pharmaceuticals PLC has a 52 week low of $105.00 and a 52 week high of $261.30. The firm's fifty day moving average is $238.62 and its 200 day moving average is $205.35. The company has a market cap of $16.08 billion, a price-to-earnings ratio of -12,792.10, a PEG ratio of 0.23 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. The company had revenue of $1.07 billion during the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. On average, equities research analysts expect that Jazz Pharmaceuticals PLC will post 21.9 earnings per share for the current 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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