Rockefeller Capital Management L.P. Decreases Stake in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Rockefeller Capital Management reduced its stake in Jazz Pharmaceuticals by 4.3% in the fourth quarter, selling 11,816 shares and leaving it with 265,056 shares worth about $45.1 million.
• Analysts remain generally bullish on JAZZ, with 16 Buy ratings, two Holds, and one Sell; the average target price is $246.06, and Piper Sandler recently raised its target to $301.
• Insiders have also been selling shares, including directors Bruce C. Cozadd and Rick E. Winningham, while Jazz reported strong recent results with $6.34 EPS and $1.07 billion in quarterly revenue.

Rockefeller Capital Management L.P. cut its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,056 shares of the specialty pharmaceutical company's stock after selling 11,816 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.43% of Jazz Pharmaceuticals worth $45,060,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in JAZZ. Hilltop National Bank acquired a new stake in Jazz Pharmaceuticals during the 4th quarter worth about $36,000. LRI Investments LLC acquired a new stake in shares of Jazz Pharmaceuticals during the fourth quarter worth about $38,000. Danske Bank A S acquired a new stake in shares of Jazz Pharmaceuticals during the third quarter worth about $40,000. Geneos Wealth Management Inc. boosted its position in 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 buying an additional 137 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Jazz Pharmaceuticals by 1,383.3% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company's stock worth $47,000 after buying an additional 332 shares during the period. 89.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley restated an "overweight" rating and set a $245.00 price objective on shares of Jazz Pharmaceuticals in a research note on Thursday, May 7th. Truist Financial set a $256.00 price objective on shares of Jazz Pharmaceuticals and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Piper Sandler raised their target price on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. Raymond James Financial restated an "outperform" rating and set a $239.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Finally, Leerink Partners upped their price target on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Sixteen equities research analysts have rated the stock with 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, the stock has an average rating of "Moderate Buy" and an average target price of $246.06.

Insider Buying and Selling

In other news, Director Bruce C. Cozadd sold 6,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $190.50, for a total transaction of $1,143,000.00. Following the sale, the director directly owned 384,682 shares of the company's stock, valued at $73,281,921. This represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Rick E. Winningham sold 2,741 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $241.57, for a total value of $662,143.37. Following the sale, the director owned 9,567 shares in the company, valued at $2,311,100.19. This trade represents a 22.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,098 shares of company stock valued at $2,832,086 in the last ninety days. Company insiders own 4.10% of the company's stock.

Jazz Pharmaceuticals Stock Performance

Jazz Pharmaceuticals stock opened at $224.66 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95. Jazz Pharmaceuticals PLC has a 12 month low of $105.00 and a 12 month high of $243.32. The stock's 50 day simple moving average is $221.33 and its two-hundred day simple moving average is $190.53. The firm has a market cap of $14.11 billion, a PE ratio of -11,227.39, a P/E/G ratio of 0.20 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The business had revenue of $1.07 billion for the quarter. Analysts anticipate that Jazz Pharmaceuticals PLC will post 22.09 earnings per share for the current year.

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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