Legal & General Group Plc Has $16.30 Million Stock Holdings in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Legal & General Group Plc cut its Jazz Pharmaceuticals stake by 20% in the fourth quarter, leaving it with 95,871 shares valued at about $16.3 million.
• Several other institutional investors remain heavily invested in Jazz, and overall institutional ownership stands at 89.14% of the company’s stock.
• Analysts are broadly bullish: Jazz has a Moderate Buy consensus rating, with multiple firms raising price targets and the average target now at $242.65.

Legal & General Group Plc decreased its holdings in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,871 shares of the specialty pharmaceutical company's stock after selling 24,006 shares during the period. Legal & General Group Plc owned approximately 0.16% of Jazz Pharmaceuticals worth $16,298,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Jazz Pharmaceuticals by 11.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,836,652 shares of the specialty pharmaceutical company's stock worth $373,855,000 after buying an additional 298,815 shares during the last quarter. Capital World Investors raised its holdings in Jazz Pharmaceuticals by 0.4% during the third quarter. Capital World Investors now owns 2,554,867 shares of the specialty pharmaceutical company's stock worth $336,731,000 after buying an additional 10,345 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Jazz Pharmaceuticals by 11.4% during the second quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company's stock worth $198,159,000 after buying an additional 191,637 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Jazz Pharmaceuticals by 8.5% during the third quarter. JPMorgan Chase & Co. now owns 1,867,159 shares of the specialty pharmaceutical company's stock worth $246,092,000 after buying an additional 145,865 shares during the last quarter. Finally, Vestal Point Capital LP acquired a new position in Jazz Pharmaceuticals during the second quarter worth $127,344,000. Institutional investors and hedge funds own 89.14% of the company's stock.

Insider Buying and Selling at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Rick E. Winningham sold 2,741 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $241.57, for a total transaction of $662,143.37. Following the completion of the transaction, the director owned 9,567 shares in the company, valued at $2,311,100.19. This trade represents a 22.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $190.50, for a total transaction of $1,143,000.00. Following the transaction, the director owned 384,682 shares of the company's stock, valued at $73,281,921. This represents a 1.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,028 shares of company stock worth $2,522,587 over the last ninety days. Company insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on JAZZ. Leerink Partners increased their target price on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Royal Bank Of Canada increased their target price on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the company an "outperform" rating in a report on Wednesday, May 6th. Piper Sandler increased their target price on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an "overweight" rating in a report on Friday, May 22nd. Raymond James Financial reiterated an "outperform" rating and issued a $239.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Finally, Wells Fargo & Company increased their target price on shares of Jazz Pharmaceuticals from $250.00 to $265.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $242.65.

Jazz Pharmaceuticals Price Performance

JAZZ opened at $232.64 on Tuesday. The firm has a market cap of $14.60 billion, a P/E ratio of -11,626.19, a PEG ratio of 0.41 and a beta of 0.32. The firm has a 50-day moving average of $209.13 and a 200 day moving average of $184.57. 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.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. The company had revenue of $1.07 billion during the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. On average, research analysts expect that Jazz Pharmaceuticals PLC will post 21.13 EPS for the current year.

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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