Polaris Capital Management LLC Sells 81,000 Shares of Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Polaris Capital Management trimmed its stake in Jazz Pharmaceuticals by 15.8%, selling 81,000 shares in Q4 and now holds 432,466 shares (6.1% of its portfolio), roughly 0.71% of the company valued at about $73.52 million.
• Jazz beat Q4 estimates with EPS of $6.64 (vs. $6.49) and revenue of $1.20B (vs. $1.17B); analysts maintain a Moderate Buy consensus with a $216.87 average price target.
• Insiders have sold 74,015 shares (~$14.18M) in the last three months, while institutional ownership remains high at about 89.14%.

Polaris Capital Management LLC trimmed its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 15.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 432,466 shares of the specialty pharmaceutical company's stock after selling 81,000 shares during the quarter. Jazz Pharmaceuticals makes up 6.1% of Polaris Capital Management LLC's investment portfolio, making the stock its 2nd largest position. Polaris Capital Management LLC owned approximately 0.71% of Jazz Pharmaceuticals worth $73,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of JAZZ. Royal Bank of Canada raised its holdings in shares of Jazz Pharmaceuticals by 96.5% in the 1st quarter. Royal Bank of Canada now owns 67,614 shares of the specialty pharmaceutical company's stock valued at $8,394,000 after purchasing an additional 33,210 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Jazz Pharmaceuticals by 147.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company's stock valued at $43,652,000 after buying an additional 209,667 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Jazz Pharmaceuticals by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,174 shares of the specialty pharmaceutical company's stock valued at $24,479,000 after buying an additional 7,954 shares during the last quarter. Focus Partners Wealth grew its position in shares of Jazz Pharmaceuticals by 3.4% in the 1st quarter. Focus Partners Wealth now owns 4,623 shares of the specialty pharmaceutical company's stock valued at $574,000 after buying an additional 154 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position 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 buying an additional 137 shares during the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Stock Down 1.7%

Shares of NASDAQ:JAZZ opened at $196.52 on Friday. The company has a market cap of $12.10 billion, a price-to-earnings ratio of -32.92, a PEG ratio of 0.35 and a beta of 0.23. The firm's 50-day simple moving average is $186.94 and its 200-day simple moving average is $168.80. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 1.00. Jazz Pharmaceuticals PLC has a fifty-two week low of $97.50 and a fifty-two week high of $207.48.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its earnings results on Wednesday, February 25th. The specialty pharmaceutical company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $6.49 by $0.15. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. The business's quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.51 earnings per share. As a group, equities research analysts predict that Jazz Pharmaceuticals PLC will post 20.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays raised their price objective on shares of Jazz Pharmaceuticals from $224.00 to $225.00 and gave the stock an "overweight" rating in a research report on Monday. Weiss Ratings reissued a "sell (d+)" rating on shares of Jazz Pharmaceuticals in a research report on Friday, March 27th. Bank of America raised their price objective on shares of Jazz Pharmaceuticals from $263.00 to $275.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. TD Cowen reissued a "buy" rating on shares of Jazz Pharmaceuticals in a research report on Thursday, January 29th. Finally, Truist Financial raised shares of Jazz Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, March 25th. One research 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, Jazz Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $216.87.

Insider Transactions at Jazz Pharmaceuticals

In related news, Director Bruce C. Cozadd sold 6,000 shares of the firm's stock in a transaction dated Wednesday, April 1st. The shares were 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 owned 384,682 shares in the company, valued at $73,281,921. This trade represents a 1.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Carr sold 1,287 shares of the firm's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $182.94, for a total transaction of $235,443.78. Following the completion of the sale, the chief accounting officer owned 6,512 shares of the company's stock, valued at $1,191,305.28. This trade represents a 16.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 74,015 shares of company stock valued at $14,180,486. 4.30% of the stock is owned by company insiders.

Jazz Pharmaceuticals Company 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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