KBC Group NV Boosts Position in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• KBC Group NV boosted its stake in Jazz Pharmaceuticals by 7.3% in Q4, buying 7,055 shares to hold 103,338 shares worth about $17.57 million (roughly 0.17% of the company).
• Company insiders have been net sellers — SVP Mary Elizabeth Henderson and Director Norbert Riedel recently sold shares, and insiders disposed of 74,015 shares worth $14.18 million in the past 90 days, leaving insiders with 4.30% ownership.
• Jazz beat Q4 estimates (EPS $6.64 vs. $6.49; revenue $1.20B vs. $1.17B), the stock is trading near its 1‑year high, and analysts’ consensus is a “Moderate Buy” with an average price target of $216.21.

KBC Group NV boosted its holdings in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 7.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,338 shares of the specialty pharmaceutical company's stock after buying an additional 7,055 shares during the quarter. KBC Group NV owned 0.17% of Jazz Pharmaceuticals worth $17,568,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Jazz Pharmaceuticals by 9.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 983 shares of the specialty pharmaceutical company's stock worth $130,000 after purchasing an additional 81 shares during the period. Tectonic Advisors LLC grew its stake in shares of Jazz Pharmaceuticals by 1.5% during the 3rd quarter. Tectonic Advisors LLC now owns 5,626 shares of the specialty pharmaceutical company's stock worth $742,000 after purchasing an additional 82 shares during the period. Fairbanks Capital Management Inc. grew its stake in shares of Jazz Pharmaceuticals by 0.4% during the 3rd quarter. Fairbanks Capital Management Inc. now owns 25,023 shares of the specialty pharmaceutical company's stock worth $3,298,000 after purchasing an additional 94 shares during the period. Blair William & Co. IL grew its stake in shares of Jazz Pharmaceuticals by 5.0% during the 3rd quarter. Blair William & Co. IL now owns 2,107 shares of the specialty pharmaceutical company's stock worth $278,000 after purchasing an additional 101 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Jazz Pharmaceuticals by 3.5% during the 3rd quarter. Blue Trust Inc. now owns 3,261 shares of the specialty pharmaceutical company's stock worth $430,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 89.14% of the company's stock.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, SVP Mary Elizabeth Henderson sold 5,343 shares of Jazz Pharmaceuticals stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $194.49, for a total transaction of $1,039,160.07. Following the sale, the senior vice president owned 28,728 shares of the company's stock, valued at $5,587,308.72. The trade was a 15.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Norbert G. Riedel sold 3,415 shares of Jazz Pharmaceuticals stock in a transaction on Friday, February 27th. The stock was sold at an average price of $192.00, for a total transaction of $655,680.00. Following the sale, the director directly owned 7,024 shares in the company, valued at approximately $1,348,608. This trade represents a 32.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 74,015 shares of company stock worth $14,180,486 in the last ninety days. Company insiders own 4.30% of the company's stock.

Jazz Pharmaceuticals Price Performance

Jazz Pharmaceuticals stock opened at $203.42 on Friday. The company's fifty day moving average price is $183.52 and its 200 day moving average price is $166.59. Jazz Pharmaceuticals PLC has a 1 year low of $97.50 and a 1 year high of $204.13. 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. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.67 and a current ratio of 1.86.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The specialty pharmaceutical company reported $6.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.49 by $0.15. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter last year, the company earned $6.51 EPS. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on JAZZ shares. Truist Financial raised shares of Jazz Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, March 25th. TD Cowen reaffirmed a "buy" rating on shares of Jazz Pharmaceuticals in a research note on Thursday, January 29th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Jazz Pharmaceuticals in a research note on Friday, March 27th. Royal Bank Of Canada raised their price objective on shares of Jazz Pharmaceuticals from $191.00 to $195.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 25th. Finally, Bank of America raised their price objective on shares of Jazz Pharmaceuticals from $263.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $216.21.

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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