Renaissance Technologies LLC Sells 17,400 Shares of Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Renaissance Technologies cut its Jazz Pharmaceuticals stake by 2.1% in the first quarter, selling 17,400 shares and ending with 819,374 shares worth about $154.9 million.
• Several other institutional investors also adjusted holdings, and institutions now own 89.14% of Jazz Pharmaceuticals stock.
• Insiders have been selling as well, with Director Heather Ann Mcsharry and EVP Neena M. Patil both reducing their positions; analysts still rate the stock Moderate Buy with an average target of $259.06.

Renaissance Technologies LLC trimmed its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 819,374 shares of the specialty pharmaceutical company's stock after selling 17,400 shares during the quarter. Renaissance Technologies LLC owned approximately 1.31% of Jazz Pharmaceuticals worth $154,903,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of JAZZ. LRI Investments LLC purchased a new stake in Jazz Pharmaceuticals in the 4th quarter valued at about $38,000. Danske Bank A S purchased a new stake in shares of Jazz Pharmaceuticals in the third quarter valued at approximately $40,000. Geneos Wealth Management Inc. boosted its holdings in shares of Jazz Pharmaceuticals by 57.6% in the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company's stock valued at $47,000 after purchasing an additional 137 shares during the period. Caitong International Asset Management Co. Ltd grew its stake 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 purchasing an additional 332 shares in the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Jazz Pharmaceuticals during the 4th quarter worth $50,000. Institutional investors own 89.14% of the company's stock.

Insider Activity

In other Jazz Pharmaceuticals news, Director Heather Ann Mcsharry sold 2,000 shares of the company's 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 completion of the sale, the director directly owned 18,449 shares in the company, valued at $4,446,209. This represents a 9.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Neena M. Patil sold 1,200 shares of the business's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total transaction of $278,196.00. Following the completion of the transaction, the executive vice president owned 51,549 shares in the company, valued at $11,950,604.67. The trade was a 2.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,098 shares of company stock valued at $3,131,906 in the last three months. Corporate insiders own 4.10% of the company's stock.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ opened at $253.87 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. The stock has a 50-day moving average of $237.37 and a two-hundred day moving average of $203.24. The stock has a market cap of $15.95 billion, a P/E ratio of -12,687.16, a P/E/G ratio of 0.22 and a beta of 0.32. Jazz Pharmaceuticals PLC has a one year low of $105.00 and a one year high of $256.75.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The company had revenue of $1.07 billion for the quarter. As a group, research analysts predict that Jazz Pharmaceuticals PLC will post 21.9 EPS for the current year.

Analyst Ratings Changes

JAZZ has been the topic of several recent research reports. Barclays increased their target price on shares of Jazz Pharmaceuticals from $253.00 to $260.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Leerink Partners upped their price objective on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Truist Financial reduced their target price on shares of Jazz Pharmaceuticals from $256.00 to $254.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Robert W. Baird set a $252.00 price target on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Finally, Bank of America raised their price target on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $259.06.

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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