Horizon Investments LLC Makes New Investment in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Horizon Investments LLC bought a new position in Jazz Pharmaceuticals of 10,831 shares valued at about $1.84 million during Q4, and institutional investors now own roughly 89.14% of the company's stock.
• Wall Street sentiment is largely positive — the stock's average rating is a Moderate Buy with an average price target of $216.87, and several firms recently raised their targets.
• Jazz's latest quarter beat EPS estimates ($6.34 vs. $4.67) with revenue up 19.1% year‑over‑year, while insiders sold 74,015 shares worth about $14.18 million in the past 90 days.

Horizon Investments LLC acquired a new position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,831 shares of the specialty pharmaceutical company's stock, valued at approximately $1,841,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Jazz Pharmaceuticals by 11.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,836,652 shares of the specialty pharmaceutical company's stock worth $373,855,000 after buying an additional 298,815 shares in the last quarter. Capital World Investors lifted its holdings in Jazz Pharmaceuticals by 0.4% in the 3rd quarter. Capital World Investors now owns 2,554,867 shares of the specialty pharmaceutical company's stock worth $336,731,000 after buying an additional 10,345 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Jazz Pharmaceuticals by 11.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company's stock worth $198,159,000 after buying an additional 191,637 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Jazz Pharmaceuticals by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,867,159 shares of the specialty pharmaceutical company's stock worth $246,092,000 after buying an additional 145,865 shares in the last quarter. Finally, Vestal Point Capital LP bought a new position in Jazz Pharmaceuticals during the 2nd quarter valued at $127,344,000. Institutional investors and hedge funds own 89.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Jazz Pharmaceuticals from $225.00 to $226.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Raymond James Financial assumed coverage on shares of Jazz Pharmaceuticals in a research note on Friday, April 10th. They set an "outperform" rating and a $227.00 price objective on the stock. Royal Bank Of Canada increased their price objective on shares of Jazz Pharmaceuticals from $191.00 to $195.00 and gave the company an "outperform" rating in a research note on Wednesday, February 25th. TD Cowen reiterated a "buy" rating on shares of Jazz Pharmaceuticals in a research note on Thursday, January 29th. Finally, Wells Fargo & Company increased their price objective on shares of Jazz Pharmaceuticals from $235.00 to $250.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $216.87.

Insider Buying and Selling

In other news, Director Norbert G. Riedel sold 3,415 shares of the firm's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $192.00, for a total value of $655,680.00. Following the transaction, the director directly owned 7,024 shares in the company, valued at approximately $1,348,608. This trade represents a 32.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Mary Elizabeth Henderson sold 5,343 shares of the firm's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $194.49, for a total transaction of $1,039,160.07. Following the completion of the transaction, the senior vice president owned 28,728 shares in the company, valued at approximately $5,587,308.72. The trade was a 15.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 74,015 shares of company stock worth $14,180,486. Company insiders own 4.30% of the company's stock.

Jazz Pharmaceuticals Trading Up 2.0%

NASDAQ JAZZ opened at $212.26 on Wednesday. The company's fifty day moving average price is $190.45 and its two-hundred day moving average price is $171.65. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.86 and a quick ratio of 1.67. Jazz Pharmaceuticals PLC has a 12 month low of $97.50 and a 12 month high of $212.57. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of -35.55, a price-to-earnings-growth ratio of 0.36 and a beta of 0.27.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.67 by $1.67. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. The company had revenue of $974.98 million for the quarter, compared to the consensus estimate of $978.46 million. During the same period last year, the firm posted $1.68 EPS. The company's revenue for the quarter was up 19.1% on a year-over-year basis. As a group, research analysts predict that Jazz Pharmaceuticals PLC will post 20.51 earnings per share for the current fiscal year.

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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