Jazz Pharmaceuticals PLC $JAZZ Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors cut its stake in Jazz Pharmaceuticals by 27.8% in the first quarter, selling 728,088 shares and leaving it with about 1.9 million shares valued at roughly $358.3 million.
• Jazz Pharmaceuticals shares rose 4.4% to open at $254.22, near its 52-week high of $255.20, as the stock traded above both its 50-day and 200-day moving averages.
• Analysts remain broadly bullish on the stock: the consensus rating is “Moderate Buy,” with an average target price of $259.06, while multiple firms recently raised price targets, including Piper Sandler and Needham.

Dimensional Fund Advisors LP trimmed its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 27.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,895,215 shares of the specialty pharmaceutical company's stock after selling 728,088 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.02% of Jazz Pharmaceuticals worth $358,264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Capital World Investors increased its holdings in shares of Jazz Pharmaceuticals by 4.4% in the 4th quarter. Capital World Investors now owns 2,666,602 shares of the specialty pharmaceutical company's stock worth $453,322,000 after acquiring an additional 111,735 shares during the period. Ameriprise Financial Inc. boosted its stake in Jazz Pharmaceuticals by 11.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company's stock valued at $198,159,000 after purchasing an additional 191,637 shares during the period. Franklin Resources Inc. grew its position in Jazz Pharmaceuticals by 164.0% in the 4th quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company's stock worth $309,215,000 after purchasing an additional 1,129,995 shares during the last quarter. Bank of New York Mellon Corp grew its position in Jazz Pharmaceuticals by 44.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company's stock worth $317,485,000 after purchasing an additional 517,514 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its position in Jazz Pharmaceuticals by 3.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,677,132 shares of the specialty pharmaceutical company's stock worth $285,113,000 after purchasing an additional 50,996 shares during the last quarter. Institutional investors and hedge funds own 89.14% of the company's stock.

Jazz Pharmaceuticals Trading Up 4.4%

Shares of NASDAQ:JAZZ opened at $254.22 on Wednesday. The company has a 50 day moving average of $236.03 and a 200-day moving average of $201.74. The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $15.97 billion, a P/E ratio of -12,704.65, a P/E/G ratio of 0.21 and a beta of 0.32. Jazz Pharmaceuticals PLC has a twelve month low of $105.00 and a twelve month high of $255.20.

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

Insider Activity

In other news, Director Heather Ann Mcsharry sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $241.00, for a total transaction of $482,000.00. Following the transaction, the director directly owned 18,449 shares in the company, valued at approximately $4,446,209. This trade represents a 9.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rick E. Winningham sold 2,741 shares of the business's stock in a transaction on 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 represents a 22.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,098 shares of company stock worth $3,131,906 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Jazz Pharmaceuticals in a report on Tuesday, June 9th. Piper Sandler increased their price objective on Jazz Pharmaceuticals from $232.00 to $301.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. Canaccord Genuity Group began coverage on Jazz Pharmaceuticals in a research report on Thursday, July 16th. They issued a "buy" rating and a $290.00 target price on the stock. Needham & Company LLC lifted their target price on Jazz Pharmaceuticals from $255.00 to $282.00 and gave the company a "buy" rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Jazz Pharmaceuticals from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $259.06.

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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