Perpetual Ltd Acquires 357,784 Shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Perpetual Ltd grew its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 60.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 952,172 shares of the specialty pharmaceutical company's stock after buying an additional 357,784 shares during the period. Jazz Pharmaceuticals makes up 1.4% of Perpetual Ltd's portfolio, making the stock its 19th largest holding. Perpetual Ltd owned approximately 1.57% of Jazz Pharmaceuticals worth $118,212,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its position in shares of Jazz Pharmaceuticals by 6.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 213,709 shares of the specialty pharmaceutical company's stock valued at $26,532,000 after purchasing an additional 12,405 shares during the last quarter. Spire Wealth Management increased its position in Jazz Pharmaceuticals by 137.6% during the first quarter. Spire Wealth Management now owns 278 shares of the specialty pharmaceutical company's stock valued at $35,000 after acquiring an additional 161 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in Jazz Pharmaceuticals during the first quarter valued at $1,372,000. Oppenheimer Asset Management Inc. raised its stake in shares of Jazz Pharmaceuticals by 6.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 10,191 shares of the specialty pharmaceutical company's stock valued at $1,265,000 after acquiring an additional 603 shares during the period. Finally, XML Financial LLC purchased a new stake in shares of Jazz Pharmaceuticals in the first quarter valued at $337,000. 89.14% of the stock is currently owned by institutional investors.

Jazz Pharmaceuticals Stock Performance

JAZZ stock opened at $107.51 on Friday. Jazz Pharmaceuticals PLC has a 1-year low of $95.49 and a 1-year high of $148.06. The business has a 50-day moving average price of $108.55 and a 200 day moving average price of $119.66. The company has a market capitalization of $6.51 billion, a P/E ratio of 14.33, a PEG ratio of 4.62 and a beta of 0.33. The company has a debt-to-equity ratio of 1.28, a current ratio of 3.38 and a quick ratio of 2.97.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its earnings results on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 EPS for the quarter, missing analysts' consensus estimates of $4.65 by ($2.97). Jazz Pharmaceuticals had a net margin of 11.86% and a return on equity of 26.62%. The business had revenue of $897.84 million for the quarter, compared to analysts' expectations of $984.16 million. During the same period last year, the business posted $2.68 EPS. The company's revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts forecast that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on JAZZ. UBS Group upgraded shares of Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and upped their price target for the company from $145.00 to $179.00 in a report on Friday, March 7th. Morgan Stanley reduced their price target on Jazz Pharmaceuticals from $183.00 to $166.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Truist Financial raised their price target on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $202.00 price objective on shares of Jazz Pharmaceuticals in a research report on Wednesday, June 11th. Finally, Barclays reiterated an "overweight" rating and issued a $200.00 target price (up previously from $190.00) on shares of Jazz Pharmaceuticals in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Jazz Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $184.00.

Insiders Place Their Bets

In other news, Director Seamus Mulligan bought 1,621 shares of Jazz Pharmaceuticals stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $103.00 per share, for a total transaction of $166,963.00. Following the completion of the acquisition, the director now owns 101,621 shares of the company's stock, valued at $10,466,963. This trade represents a 1.62% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Bruce C. Cozadd sold 500 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $107.90, for a total transaction of $53,950.00. Following the sale, the chief executive officer now directly owns 438,473 shares of the company's stock, valued at approximately $47,311,236.70. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,000 shares of company stock worth $355,925 over the last 90 days. Company insiders own 4.30% of the company's stock.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.

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