Meritage Portfolio Management Has $9.41 Million Stock Holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Meritage Portfolio Management grew its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,803 shares of the specialty pharmaceutical company's stock after buying an additional 9,529 shares during the quarter. Meritage Portfolio Management owned approximately 0.12% of Jazz Pharmaceuticals worth $9,411,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in JAZZ. IFP Advisors Inc acquired a new position in Jazz Pharmaceuticals during the fourth quarter worth $25,000. Quadrant Capital Group LLC increased its position in Jazz Pharmaceuticals by 97.1% during the fourth quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company's stock worth $25,000 after acquiring an additional 101 shares during the period. Elequin Capital LP increased its position in Jazz Pharmaceuticals by 677.8% during the fourth quarter. Elequin Capital LP now owns 210 shares of the specialty pharmaceutical company's stock worth $26,000 after acquiring an additional 183 shares during the period. CoreFirst Bank & Trust bought a new stake in Jazz Pharmaceuticals in the 4th quarter valued at $28,000. Finally, Allianz SE bought a new stake in Jazz Pharmaceuticals in the 4th quarter valued at $29,000. 89.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. HC Wainwright boosted their target price on shares of Jazz Pharmaceuticals from $200.00 to $217.00 and gave the company a "buy" rating in a research note on Monday, March 10th. UBS Group upgraded shares of Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and upped their target price for the company from $145.00 to $179.00 in a research report on Friday, March 7th. Royal Bank Of Canada cut their target price on shares of Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen cut Jazz Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $147.00 price target (down from $176.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $184.00.

Jazz Pharmaceuticals Stock Down 0.4%

NASDAQ JAZZ traded down $0.48 during trading hours on Friday, reaching $109.45. 327,049 shares of the company's stock were exchanged, compared to its average volume of 828,910. The company's 50-day moving average is $108.96 and its two-hundred day moving average is $119.08. Jazz Pharmaceuticals PLC has a one year low of $95.49 and a one year high of $148.06. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.97 and a current ratio of 3.38. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 4.72 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 earnings per share for the quarter, missing analysts' consensus estimates of $4.65 by ($2.97). Jazz Pharmaceuticals had a return on equity of 26.62% and a net margin of 11.86%. The firm had revenue of $897.84 million for the quarter, compared to analyst estimates of $984.16 million. During the same period last year, the company earned $2.68 EPS. The company's revenue was down .5% compared to the same quarter last year. On average, analysts forecast that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Seamus Mulligan purchased 100,000 shares of Jazz Pharmaceuticals stock in a transaction on Friday, May 9th. The stock was purchased at an average price of $98.26 per share, with a total value of $9,826,000.00. Following the transaction, the director directly owned 100,000 shares in the company, valued at $9,826,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Bruce C. Cozadd sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the transaction, the chief executive officer directly owned 439,307 shares of the company's stock, valued at approximately $51,113,369.45. This trade represents a 0.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,500 shares of company stock valued at $277,930. Insiders own 4.30% of the company's stock.

Jazz Pharmaceuticals Profile

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.