Rhumbline Advisers Decreases Stock Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Rhumbline Advisers cut its stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 164,556 shares of the specialty pharmaceutical company's stock after selling 3,004 shares during the quarter. Rhumbline Advisers owned 0.27% of Jazz Pharmaceuticals worth $20,430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of Jazz Pharmaceuticals by 85.6% during the 1st quarter. Parallel Advisors LLC now owns 258 shares of the specialty pharmaceutical company's stock valued at $32,000 after purchasing an additional 119 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Jazz Pharmaceuticals by 20,224.5% during the 1st quarter. GAMMA Investing LLC now owns 126,012 shares of the specialty pharmaceutical company's stock valued at $15,644,000 after purchasing an additional 125,392 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Jazz Pharmaceuticals by 56.9% during the 1st quarter. Quent Capital LLC now owns 339 shares of the specialty pharmaceutical company's stock valued at $42,000 after purchasing an additional 123 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Jazz Pharmaceuticals by 9.4% during the 1st quarter. Versant Capital Management Inc now owns 1,058 shares of the specialty pharmaceutical company's stock valued at $131,000 after purchasing an additional 91 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Jazz Pharmaceuticals by 104.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 36,326 shares of the specialty pharmaceutical company's stock valued at $4,510,000 after purchasing an additional 18,578 shares in the last quarter. 89.14% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Seamus Mulligan purchased 100,000 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was bought at an average price of $98.26 per share, with a total value of $9,826,000.00. Following the completion of the purchase, the director now owns 100,000 shares in the company, valued at approximately $9,826,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Bruce C. Cozadd sold 500 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $107.90, for a total value of $53,950.00. Following the sale, the chief executive officer now directly owns 438,473 shares of the company's stock, valued at $47,311,236.70. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,543 shares of company stock worth $845,628. 4.20% of the stock is currently owned by company insiders.

Jazz Pharmaceuticals Stock Performance

NASDAQ JAZZ traded up $2.33 on Friday, reaching $111.13. The stock had a trading volume of 726,472 shares, compared to its average volume of 837,621. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. The firm has a fifty day moving average of $108.09 and a two-hundred day moving average of $121.00. Jazz Pharmaceuticals plc has a 1-year low of $95.49 and a 1-year high of $148.06. The company has a market cap of $6.85 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 1.04 and a beta of 0.33.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its quarterly earnings data 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 11.60% and a return on equity of 29.30%. The firm had revenue of $897.84 million during the quarter, compared to analyst estimates of $984.16 million. During the same period in the prior year, the company earned $2.68 earnings per share. The business's quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that Jazz Pharmaceuticals plc will post 16.96 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on JAZZ. HC Wainwright lifted their price objective on Jazz Pharmaceuticals from $200.00 to $217.00 and gave the company a "buy" rating in a report on Monday, March 10th. Wells Fargo & Company upgraded Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $130.00 to $170.00 in a report on Thursday, February 13th. Truist Financial boosted their target price on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Piper Sandler restated an "overweight" rating and issued a $147.00 target price (down previously from $176.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 7th. Finally, Needham & Company LLC restated a "buy" rating and issued a $202.00 target price on shares of Jazz Pharmaceuticals in a research note on Tuesday. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $184.00.

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.