Pictet Asset Management Holding SA Has $31.78 Million Holdings in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Pictet Asset Management Holding SA trimmed its Jazz Pharmaceuticals stake by 6.2% in the first quarter, selling 11,446 shares. The fund now holds 173,250 shares, worth about $31.78 million.
• Jazz Pharmaceuticals reported solid quarterly results with EPS of $6.34 and revenue of $1.07 billion. Analysts expect the company to post 22.09 EPS for the current fiscal year.
• Wall Street remains constructive on the stock, with 16 Buy ratings and three Hold ratings and a consensus price target of $246.06. Several firms recently raised targets, including Bank of America to $307 and RBC to $258.

Pictet Asset Management Holding SA decreased its position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 173,250 shares of the specialty pharmaceutical company's stock after selling 11,446 shares during the quarter. Pictet Asset Management Holding SA owned about 0.28% of Jazz Pharmaceuticals worth $31,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of 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 period. Capital World Investors lifted its holdings in Jazz Pharmaceuticals by 4.4% in the fourth quarter. Capital World Investors now owns 2,666,602 shares of the specialty pharmaceutical company's stock valued at $453,322,000 after buying an additional 111,735 shares during the period. Ameriprise Financial Inc. boosted its position 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 valued at $198,159,000 after acquiring an additional 191,637 shares during the last quarter. Franklin Resources Inc. boosted its position in Jazz Pharmaceuticals by 164.0% during the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company's stock valued at $309,215,000 after acquiring an additional 1,129,995 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Jazz Pharmaceuticals by 3.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,677,132 shares of the specialty pharmaceutical company's stock worth $285,113,000 after acquiring an additional 50,996 shares during the period. Institutional investors and hedge funds own 89.14% of the company's stock.

Jazz Pharmaceuticals Stock Performance

Shares of Jazz Pharmaceuticals stock opened at $240.97 on Wednesday. Jazz Pharmaceuticals PLC has a one year low of $105.00 and a one year high of $243.32. The firm has a market capitalization of $15.14 billion, a price-to-earnings ratio of -12,042.48, a PEG ratio of 0.21 and a beta of 0.32. The business has a 50-day simple moving average of $225.97 and a 200 day simple moving average of $193.86. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) 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 for the quarter. On average, research analysts anticipate that Jazz Pharmaceuticals PLC will post 22.09 earnings per share for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In related news, Director Heather Ann Mcsharry sold 2,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $241.00, for a total value of $482,000.00. Following the transaction, the director directly owned 18,449 shares in the company, valued at $4,446,209. This trade represents a 9.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Douglas Smith sold 1,157 shares of Jazz Pharmaceuticals stock in a transaction on Monday, June 15th. The shares were sold at an average price of $230.55, for a total transaction of $266,746.35. Following the completion of the sale, the director directly owned 9,680 shares of the company's stock, valued at approximately $2,231,724. The trade was a 10.68% 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 sold 7,098 shares of company stock valued at $1,689,086 over the last ninety days. Company insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price objective on Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Bank of America upped their target price on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. Weiss Ratings upgraded Jazz Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday. Leerink Partners boosted their price target on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Finally, Barclays raised their price objective on shares of Jazz Pharmaceuticals from $234.00 to $253.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 27th. Sixteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $246.06.

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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