Envestnet Asset Management Inc. Raises Position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Envestnet Asset Management Inc. grew its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 26.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 114,638 shares of the specialty pharmaceutical company's stock after acquiring an additional 23,896 shares during the quarter. Envestnet Asset Management Inc. owned 0.19% of Jazz Pharmaceuticals worth $14,232,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC raised 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 valued at $25,000 after acquiring an additional 101 shares in the last quarter. Elequin Capital LP raised 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 valued at $26,000 after acquiring an additional 183 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in Jazz Pharmaceuticals during the fourth quarter valued at approximately $28,000. Allianz SE purchased a new position in Jazz Pharmaceuticals during the fourth quarter valued at approximately $29,000. Finally, Parallel Advisors LLC raised its position in Jazz Pharmaceuticals by 85.6% during the first quarter. Parallel Advisors LLC now owns 258 shares of the specialty pharmaceutical company's stock valued at $32,000 after acquiring an additional 119 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company's stock.

Analyst Ratings Changes

JAZZ has been the topic of a number of research analyst reports. Robert W. Baird lowered their price target on Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Piper Sandler reissued an "overweight" rating and set a $147.00 price objective (down previously from $176.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 7th. Needham & Company LLC reissued a "buy" rating and set a $202.00 price objective on shares of Jazz Pharmaceuticals in a research note on Wednesday, June 11th. Morgan Stanley lowered their price objective on Jazz Pharmaceuticals from $166.00 to $165.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Royal Bank Of Canada lowered their price objective on Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $181.64.

Jazz Pharmaceuticals Stock Performance

NASDAQ:JAZZ traded up $3.69 during mid-day trading on Tuesday, reaching $116.34. 967,302 shares of the stock were exchanged, compared to its average volume of 834,933. The company has a 50 day simple moving average of $109.31 and a 200-day simple moving average of $118.15. The stock has a market capitalization of $7.04 billion, a P/E ratio of 15.51, a P/E/G ratio of 5.63 and a beta of 0.32. The company has a quick ratio of 2.97, a current ratio of 3.38 and a debt-to-equity ratio of 1.28. Jazz Pharmaceuticals PLC has a 1 year low of $95.49 and a 1 year high of $148.06.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted 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 net margin of 11.86% and a return on equity of 26.62%. The business had revenue of $897.84 million during the quarter, compared to analysts' expectations of $984.16 million. During the same quarter last year, the firm earned $2.68 earnings per share. The firm's quarterly revenue was down .5% compared to the same quarter last year. Analysts anticipate that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Seamus Mulligan purchased 100,000 shares of the business's stock in a transaction dated Friday, May 9th. The stock was bought at an average cost of $98.26 per share, with a total value of $9,826,000.00. Following the completion of the acquisition, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bruce C. Cozadd sold 1,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $107.63, for a total value of $107,630.00. Following the completion of the transaction, the chief executive officer directly owned 436,973 shares of the company's stock, valued at approximately $47,031,403.99. This trade represents a 0.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders 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.