LSV Asset Management Sells 55,901 Shares of Jazz Pharmaceuticals PLC $JAZZ

Key Points

• LSV Asset Management reduced its Jazz Pharmaceuticals stake by 2.2% in the fourth quarter, selling 55,901 shares. It still held 2,455,957 shares worth about $417.5 million, making JAZZ its 19th-largest position.
• Insider selling has also been active, with CAO Patricia Carr and SVP Mary Elizabeth Henderson both trimming their holdings in recent months. Over the last 90 days, insiders sold 74,015 shares worth about $14.2 million.
• Analysts remain mostly constructive on Jazz Pharmaceuticals, with several firms raising price targets and UBS upgrading the stock to buy. The consensus rating is Moderate Buy, with an average price target of $241.53.

LSV Asset Management trimmed its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,455,957 shares of the specialty pharmaceutical company's stock after selling 55,901 shares during the quarter. Jazz Pharmaceuticals makes up 0.9% of LSV Asset Management's holdings, making the stock its 19th largest position. LSV Asset Management owned about 4.04% of Jazz Pharmaceuticals worth $417,513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of JAZZ. Hilltop National Bank bought a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at about $36,000. LRI Investments LLC bought a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at about $38,000. Danske Bank A S bought a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter valued at about $40,000. Geneos Wealth Management Inc. raised its holdings in shares of Jazz Pharmaceuticals by 57.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company's stock valued at $47,000 after purchasing an additional 137 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Jazz Pharmaceuticals by 1,383.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company's stock valued at $47,000 after purchasing an additional 332 shares during the period. 89.14% of the stock is owned by institutional investors.

Insider Activity

In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 1,287 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $182.94, for a total transaction of $235,443.78. Following the transaction, the chief accounting officer owned 6,512 shares in the company, valued at $1,191,305.28. This represents a 16.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mary Elizabeth Henderson sold 5,343 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $194.49, for a total transaction of $1,039,160.07. Following the transaction, the senior vice president owned 28,728 shares in the company, valued at approximately $5,587,308.72. The trade was a 15.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 74,015 shares of company stock worth $14,180,486. Insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JAZZ. Sanford C. Bernstein assumed coverage on shares of Jazz Pharmaceuticals in a report on Thursday. They issued a "market perform" rating and a $229.00 target price on the stock. TD Cowen upped their price target on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Wells Fargo & Company upped their price target on shares of Jazz Pharmaceuticals from $250.00 to $265.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Leerink Partners upped their price target on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Finally, UBS Group upgraded shares of Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and upped their price target for the company from $188.00 to $307.00 in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $241.53.

Jazz Pharmaceuticals Stock Up 0.2%

Shares of JAZZ opened at $239.83 on Friday. Jazz Pharmaceuticals PLC has a 52 week low of $105.00 and a 52 week high of $243.32. The firm has a market cap of $15.05 billion, a P/E ratio of -11,985.51, a price-to-earnings-growth ratio of 0.43 and a beta of 0.27. The firm's 50-day simple moving average is $202.44 and its 200 day simple moving average is $179.99. 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 (NASDAQ:JAZZ - Get Free Report) last announced 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 net margin of 0.66% and a return on equity of 14.56%. The firm had revenue of $1.07 billion for the quarter. On average, analysts forecast that Jazz Pharmaceuticals PLC will post 20.75 earnings per share for the current year.

About Jazz Pharmaceuticals

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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