Jazz Pharmaceuticals PLC $JAZZ Shares Sold by Los Angeles Capital Management LLC

Key Points

• Los Angeles Capital Management cut its stake in Jazz Pharmaceuticals by 11.9% in the fourth quarter, selling 14,790 shares and leaving it with 109,908 shares worth about $18.7 million.
• Insider selling also continued, with directors Heather Ann Mcsharry and Rick E. Winningham selling shares on May 22; insiders sold a total of 10,741 shares worth $2.29 million over the last three months.
• Jazz Pharmaceuticals shares were trading near their 52-week high at $238.57, while analysts remain broadly constructive with a consensus rating of Moderate Buy and an average price target of $242.65.

Los Angeles Capital Management LLC decreased its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,908 shares of the specialty pharmaceutical company's stock after selling 14,790 shares during the period. Los Angeles Capital Management LLC owned about 0.18% of Jazz Pharmaceuticals worth $18,684,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada lifted its position in shares of Jazz Pharmaceuticals by 96.5% during the 1st quarter. Royal Bank of Canada now owns 67,614 shares of the specialty pharmaceutical company's stock worth $8,394,000 after purchasing an additional 33,210 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Jazz Pharmaceuticals by 147.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company's stock worth $43,652,000 after purchasing an additional 209,667 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Jazz Pharmaceuticals by 4.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,174 shares of the specialty pharmaceutical company's stock worth $24,479,000 after purchasing an additional 7,954 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Jazz Pharmaceuticals by 3.4% during the 1st quarter. Focus Partners Wealth now owns 4,623 shares of the specialty pharmaceutical company's stock worth $574,000 after purchasing an additional 154 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Jazz Pharmaceuticals by 57.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company's stock worth $47,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 89.14% of the company's stock.

Insider Activity at Jazz Pharmaceuticals

In related news, Director Heather Ann Mcsharry sold 2,000 shares of the company's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $241.00, for a total value of $482,000.00. Following the completion of the sale, the director directly owned 18,449 shares of the company's stock, valued at $4,446,209. This represents a 9.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rick E. Winningham sold 2,741 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were 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 of the company's stock, valued at approximately $2,311,100.19. This trade represents a 22.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 10,741 shares of company stock valued at $2,287,143 in the last three months. 4.30% of the stock is currently owned by company insiders.

Jazz Pharmaceuticals Price Performance

Jazz Pharmaceuticals stock opened at $238.57 on Monday. The company has a market capitalization of $14.97 billion, a P/E ratio of -11,922.54, a PEG ratio of 0.22 and a beta of 0.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. Jazz Pharmaceuticals PLC has a fifty-two week low of $105.00 and a fifty-two week high of $243.32. The stock has a 50-day simple moving average of $213.11 and a 200-day simple moving average of $187.01.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter. The firm 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%. Equities research analysts expect that Jazz Pharmaceuticals PLC will post 21.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Robert W. Baird set a $252.00 price objective on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Bank of America lifted their price objective on shares of Jazz Pharmaceuticals from $263.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Weiss Ratings raised shares of Jazz Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, May 26th. Royal Bank Of Canada lifted their price objective on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Finally, Sanford C. Bernstein assumed coverage on shares of Jazz Pharmaceuticals in a research report on Thursday, May 21st. They set a "market perform" rating and a $229.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $242.65.

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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