Jazz Pharmaceuticals PLC $JAZZ Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors reduced its Jazz Pharmaceuticals stake by 22.3% in the first quarter, selling 144,071 shares and retaining 503,013 shares valued at approximately $95.1 million. Other major institutions, including Goldman Sachs and Royal Bank of Canada, increased their holdings.
• Jazz Pharmaceuticals reported quarterly revenue of $1.07 billion and earnings of $6.34 per share. Analysts expect full-year earnings of $21.90 per share, while the stock opened at $252.86 and trades near its 52-week high.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $259.06; UBS raised its target to $307. Insiders, however, have sold 13,098 shares worth $3.13 million over the past three months.

Pacer Advisors Inc. lessened its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 22.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 503,013 shares of the specialty pharmaceutical company's stock after selling 144,071 shares during the quarter. Pacer Advisors Inc. owned about 0.80% of Jazz Pharmaceuticals worth $95,095,000 as of its most recent SEC filing.

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

Jazz Pharmaceuticals Stock Performance

JAZZ opened at $252.86 on Monday. The stock has a market capitalization of $15.88 billion, a PE ratio of -12,636.68, 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 $261.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. The business's 50 day moving average price is $239.26 and its 200 day moving average price is $206.67.

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

Insider Buying and Selling

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 1,200 shares of the company's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total value of $278,196.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Heather Ann Mcsharry sold 2,000 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $241.00, for a total transaction of $482,000.00. Following the completion of the sale, the director directly owned 18,449 shares in the company, valued at $4,446,209. This trade represents a 9.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,098 shares of company stock valued at $3,131,906 over the last three months. Company insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on JAZZ. UBS Group upgraded shares of Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $188.00 to $307.00 in a research report on Tuesday, May 19th. Robert W. Baird set a $252.00 price objective on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Royal Bank Of Canada raised their target price on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Canaccord Genuity Group assumed coverage on Jazz Pharmaceuticals in a report on Thursday, July 16th. They set a "buy" rating and a $290.00 target price on the stock. Finally, Barclays upped their price target on Jazz Pharmaceuticals from $253.00 to $260.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Jazz Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $259.06.

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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