Jazz Pharmaceuticals PLC $JAZZ Shares Sold by Graphene Investments SAS

Key Points

• Graphene Investments SAS cut its stake in Jazz Pharmaceuticals by 35.4% in Q4, selling 9,500 shares and now holding 17,300 shares valued at about $2.94 million per its SEC filing.
• Significant insider selling occurred recently: EVP Neena M. Patil sold 55,600 shares for $10.65 million (a 49.44% reduction) and insiders have sold 74,015 shares worth $14.18 million in the past 90 days.
• Operational and market backdrop: Jazz beat quarterly estimates (EPS $6.64 vs $6.49; revenue $1.20B vs $1.17B), is trading near its 1‑year high, and holds a MarketBeat consensus of "Moderate Buy" with a $216.21 target.

Graphene Investments SAS lowered its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 35.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,300 shares of the specialty pharmaceutical company's stock after selling 9,500 shares during the quarter. Graphene Investments SAS's holdings in Jazz Pharmaceuticals were worth $2,941,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Jazz Pharmaceuticals by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,953 shares of the specialty pharmaceutical company's stock worth $502,000 after buying an additional 608 shares in the last quarter. CWM LLC grew its holdings in shares of Jazz Pharmaceuticals by 20.6% in the fourth quarter. CWM LLC now owns 5,100 shares of the specialty pharmaceutical company's stock valued at $867,000 after purchasing an additional 870 shares in the last quarter. KBC Group NV grew its holdings in shares of Jazz Pharmaceuticals by 7.3% in the fourth quarter. KBC Group NV now owns 103,338 shares of the specialty pharmaceutical company's stock valued at $17,568,000 after purchasing an additional 7,055 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Jazz Pharmaceuticals by 147.9% during the 4th quarter. Farther Finance Advisors LLC now owns 657 shares of the specialty pharmaceutical company's stock worth $112,000 after acquiring an additional 392 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in Jazz Pharmaceuticals by 102.8% during the 4th quarter. Assetmark Inc. now owns 10,848 shares of the specialty pharmaceutical company's stock worth $1,844,000 after acquiring an additional 5,499 shares in the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Trading Up 2.8%

Shares of JAZZ opened at $203.42 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 1.00. Jazz Pharmaceuticals PLC has a 1-year low of $97.50 and a 1-year high of $204.13. The business's 50-day moving average price is $183.52 and its 200 day moving average price is $166.84. The stock has a market capitalization of $12.52 billion, a P/E ratio of -34.07, a P/E/G ratio of 0.34 and a beta of 0.23.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The specialty pharmaceutical company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.49 by $0.15. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. Jazz Pharmaceuticals had a positive return on equity of 6.87% and a negative net margin of 8.35%.The firm's revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $6.51 EPS. Analysts expect that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current year.

Insider Activity at Jazz Pharmaceuticals

In other news, EVP Neena M. Patil sold 55,600 shares of the firm's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $191.56, for a total transaction of $10,650,736.00. Following the sale, the executive vice president owned 56,862 shares of the company's stock, valued at $10,892,484.72. This trade represents a 49.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Mary Elizabeth Henderson sold 5,343 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $194.49, for a total value of $1,039,160.07. Following the transaction, the senior vice president owned 28,728 shares of the company's stock, valued at approximately $5,587,308.72. The trade was a 15.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 74,015 shares of company stock valued at $14,180,486. 4.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on JAZZ shares. Royal Bank Of Canada upped their price target on shares of Jazz Pharmaceuticals from $191.00 to $195.00 and gave the company an "outperform" rating in a research report 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 target on the stock. Barclays reissued an "overweight" rating and issued a $224.00 price objective on shares of Jazz Pharmaceuticals in a research note on Monday, March 9th. Truist Financial upgraded shares of Jazz Pharmaceuticals to a "strong-buy" rating in a report on Wednesday, March 25th. Finally, Wells Fargo & Company increased their price objective on shares of Jazz Pharmaceuticals from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $216.21.

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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