M&T Bank Corp Purchases New Shares in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• M&T Bank purchased a new stake of 11,172 shares in Jazz Pharmaceuticals in Q4, valued at about $1.9 million, as institutional investors now own roughly 89.14% of the stock.
• Company insiders have been net sellers, disposing of 74,015 shares worth about $14.18 million over the past three months (including recent sales by a director and an SVP); insiders currently hold 4.30% of the shares.
• Jazz beat Q4 estimates with EPS $6.64 vs. $6.49 and revenue of $1.20B, while analysts raised price targets and the consensus rating is a "Moderate Buy" with an average target of $216.87.

M&T Bank Corp purchased a new stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 11,172 shares of the specialty pharmaceutical company's stock, valued at approximately $1,899,000.

A number of other institutional investors also recently made changes to their positions in JAZZ. Farther Finance Advisors LLC raised its position in shares of Jazz Pharmaceuticals by 754.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 265 shares of the specialty pharmaceutical company's stock valued at $35,000 after purchasing an additional 234 shares in the last quarter. Hilltop National Bank bought a new position in Jazz Pharmaceuticals during the 4th quarter worth $36,000. Danske Bank A S bought a new position in Jazz Pharmaceuticals during the 3rd quarter worth $40,000. Quent Capital LLC bought a new position in Jazz Pharmaceuticals during the 3rd quarter worth $44,000. Finally, Geneos Wealth Management Inc. grew its stake in Jazz Pharmaceuticals by 57.6% during the 1st 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. 89.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Norbert G. Riedel sold 3,415 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $192.00, for a total value of $655,680.00. Following the completion of the sale, the director owned 7,024 shares in the company, valued at approximately $1,348,608. This trade represents a 32.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mary Elizabeth Henderson sold 5,343 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $194.49, for a total value of $1,039,160.07. Following the completion of the sale, the senior vice president owned 28,728 shares of the company's stock, valued at $5,587,308.72. This represents a 15.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, 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 research analysts have issued reports on JAZZ shares. Royal Bank Of Canada boosted their price target on Jazz Pharmaceuticals from $191.00 to $195.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Wells Fargo & Company upped their target price on Jazz Pharmaceuticals from $235.00 to $250.00 and gave the company an "overweight" rating in a report on Wednesday, February 25th. Needham & Company LLC upped their target price on Jazz Pharmaceuticals from $210.00 to $235.00 and gave the company a "buy" rating in a report on Monday, January 12th. Morgan Stanley upped their price target on Jazz Pharmaceuticals from $225.00 to $226.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. Finally, Bank of America upped their price target on Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $216.87.

Jazz Pharmaceuticals Stock Performance

Shares of NASDAQ JAZZ opened at $203.98 on Wednesday. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of -34.17, a P/E/G ratio of 0.35 and a beta of 0.23. The business's 50-day simple moving average is $188.36 and its 200-day simple moving average is $170.17. 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 PLC has a 52 week low of $97.50 and a 52 week high of $207.48.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its 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. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. Jazz Pharmaceuticals had a positive return on equity of 6.87% and a negative net margin of 8.35%.The company's revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $6.51 EPS. As a group, equities research analysts expect that Jazz Pharmaceuticals PLC will post 20.65 earnings per share for the current fiscal 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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