ING Groep NV Takes $8.87 Million Position in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• ING Groep NV disclosed a new fourth-quarter stake in Jazz Pharmaceuticals, buying 52,200 shares valued at about $8.87 million. The position represents roughly 0.09% of the company.
• Jazz Pharmaceuticals reported strong quarterly results, including $6.34 EPS and $1.07 billion in revenue, while analysts expect the company to post 21.59 EPS for the current fiscal year.
• Analysts remain broadly positive on JAZZ, with several firms raising price targets and the stock carrying a Moderate Buy consensus and average target of $242.65. Shares recently traded near their 52-week high after climbing to $238.57.

ING Groep NV acquired a new stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 52,200 shares of the specialty pharmaceutical company's stock, valued at approximately $8,874,000. ING Groep NV owned about 0.09% of Jazz Pharmaceuticals as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of JAZZ. Hilltop National Bank bought a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at $36,000. LRI Investments LLC bought a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at $38,000. Danske Bank A S bought a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter valued at $40,000. Geneos Wealth Management Inc. boosted its stake 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 valued at $47,000 after purchasing an additional 137 shares during the last quarter. Finally, 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 during the last quarter. 89.14% of the stock is owned by institutional investors.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ opened at $238.57 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The stock has a 50-day moving average of $213.11 and a 200-day moving average of $187.01. The company has a market cap of $14.97 billion, a PE ratio of -11,922.54, a P/E/G ratio of 0.22 and a beta of 0.32. Jazz Pharmaceuticals PLC has a one year low of $105.00 and a one year high of $243.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its 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 return on equity of 14.56% and a net margin of 0.66%. On average, equities research analysts predict that Jazz Pharmaceuticals PLC will post 21.59 EPS for the current fiscal year.

Insider Activity

In other news, Director Rick E. Winningham sold 2,741 shares of the firm's stock in a transaction dated 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 sale, the director directly owned 9,567 shares in the company, valued at $2,311,100.19. This trade represents a 22.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Bruce C. Cozadd sold 6,000 shares of the company's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $190.50, for a total transaction of $1,143,000.00. Following the transaction, the director owned 384,682 shares in the company, valued at approximately $73,281,921. The trade was a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,741 shares of company stock worth $2,287,143 in the last three months. Company insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

JAZZ has been the topic of a number of analyst reports. Piper Sandler upped their price objective on shares of 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 upped their price objective on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Sanford C. Bernstein started coverage on shares of Jazz Pharmaceuticals in a research note on Thursday, May 21st. They issued a "market perform" rating and a $229.00 price objective on the stock. TD Cowen boosted their target price 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. Finally, Raymond James Financial reiterated an "outperform" rating and set a $239.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. One equities research 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $242.65.

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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