MIdWestOne Financial Group Inc. Cuts Stock Position in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• MIdWestOne Financial Group reduced its Jazz Pharmaceuticals stake by 16.3% in the fourth quarter, selling 6,416 shares and leaving it with 32,855 shares worth about $5.6 million.
• Jazz Pharmaceuticals shares were up 2.8% to $236.17, near their 52-week high of $243.32, with the company carrying a market cap of about $14.84 billion.
• Wall Street remains upbeat on Jazz, with 16 Buy ratings and 3 Hold ratings; the consensus view is Moderate Buy and the average price target is $246.06.

MIdWestOne Financial Group Inc. cut its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,855 shares of the specialty pharmaceutical company's stock after selling 6,416 shares during the quarter. Jazz Pharmaceuticals accounts for approximately 0.6% of MIdWestOne Financial Group Inc.'s investment portfolio, making the stock its 26th largest position. MIdWestOne Financial Group Inc. owned 0.05% of Jazz Pharmaceuticals worth $5,585,000 at the end of the most recent quarter.

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

Jazz Pharmaceuticals Stock Up 2.8%

NASDAQ:JAZZ opened at $236.17 on Friday. Jazz Pharmaceuticals PLC has a twelve month low of $105.00 and a twelve month high of $243.32. The company has a market cap of $14.84 billion, a price-to-earnings ratio of -11,802.60, a price-to-earnings-growth ratio of 0.21 and a beta of 0.32. The stock has a fifty day simple moving average of $216.77 and a 200-day simple moving average of $188.55. The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%.The business had revenue of $1.07 billion during the quarter. Analysts anticipate that Jazz Pharmaceuticals PLC will post 22.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial set a $256.00 price target on Jazz Pharmaceuticals and gave the stock a "buy" rating in a research report on Tuesday. Morgan Stanley restated an "overweight" rating and issued a $245.00 price target on shares of Jazz Pharmaceuticals in a research report on Thursday, May 7th. Raymond James Financial restated an "outperform" rating and issued a $239.00 price target on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. TD Cowen raised their price target on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Barclays raised their price target on Jazz Pharmaceuticals from $234.00 to $253.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 27th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $246.06.

Insider Transactions at Jazz Pharmaceuticals

In related news, Director Bruce C. Cozadd sold 6,000 shares of Jazz Pharmaceuticals stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $190.50, for a total value of $1,143,000.00. Following the completion of the sale, the director directly owned 384,682 shares in the company, valued at $73,281,921. The trade was a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heather Ann Mcsharry sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $241.00, for a total value of $482,000.00. Following the completion of the sale, the director owned 18,449 shares of the company's stock, valued at $4,446,209. The trade was a 9.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 10,741 shares of company stock worth $2,287,143. 4.30% of the stock is currently owned by insiders.

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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