Jazz Pharmaceuticals PLC $JAZZ Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 80.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,034 shares of the specialty pharmaceutical company's stock after selling 12,234 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Jazz Pharmaceuticals were worth $571,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Ruffer LLP purchased a new stake in Jazz Pharmaceuticals in the 4th quarter valued at $2,425,000. Allianz Asset Management GmbH grew its position in Jazz Pharmaceuticals by 68.2% during the 4th quarter. Allianz Asset Management GmbH now owns 598,832 shares of the specialty pharmaceutical company's stock worth $101,801,000 after purchasing an additional 242,892 shares during the last quarter. Capricorn Fund Managers Ltd purchased a new position in Jazz Pharmaceuticals during the 4th quarter worth $1,700,000. Swedbank AB increased its stake in Jazz Pharmaceuticals by 2.7% in the fourth quarter. Swedbank AB now owns 1,102,974 shares of the specialty pharmaceutical company's stock valued at $187,506,000 after purchasing an additional 28,882 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Jazz Pharmaceuticals by 274.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,583 shares of the specialty pharmaceutical company's stock valued at $1,459,000 after purchasing an additional 6,292 shares during the period. Institutional investors and hedge funds own 89.14% of the company's stock.

Insider Transactions at Jazz Pharmaceuticals

In other news, Director Mark Douglas Smith sold 1,157 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $230.55, for a total value of $266,746.35. Following the completion of the transaction, the director owned 9,680 shares in the company, valued at $2,231,724. This trade represents a 10.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena M. Patil sold 1,200 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total transaction of $278,196.00. Following the completion of the transaction, the executive vice president owned 51,549 shares of the company's stock, valued at $11,950,604.67. This represents a 2.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,098 shares of company stock valued at $3,131,906 in the last three months. Insiders own 4.10% of the company's stock.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ:JAZZ opened at $256.92 on Wednesday. Jazz Pharmaceuticals PLC has a 52 week low of $105.00 and a 52 week high of $261.30. The company has a 50-day moving average price of $238.28 and a 200 day moving average price of $204.68. The company has a market cap of $16.14 billion, a P/E ratio of -12,839.58, a PEG ratio of 0.23 and a beta of 0.32. 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 (NASDAQ:JAZZ - Get Free Report) last released its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter. The company 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%. Research analysts predict that Jazz Pharmaceuticals PLC will post 21.9 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC increased their target price on shares of Jazz Pharmaceuticals from $255.00 to $282.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft raised their price target on 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 Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Piper Sandler upped 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. Finally, Weiss Ratings raised Jazz Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $259.06.

Jazz Pharmaceuticals Company 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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