Simplify Asset Management Inc. Acquires Shares of 71,178 Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Simplify Asset Management disclosed a new fourth-quarter stake in Jazz Pharmaceuticals, buying 71,178 shares valued at about $12.1 million. The position represents roughly 0.2% of Simplify’s portfolio and 0.12% of Jazz’s outstanding shares.
• Jazz Pharmaceuticals has seen continued institutional investor interest, with hedge funds and other institutions owning 89.14% of the stock overall. Several smaller firms also recently initiated or increased positions.
• The company reported quarterly EPS of $6.34 on revenue of $1.07 billion, while analysts currently rate the stock a Moderate Buy with a consensus price target of $241.53.

Simplify Asset Management Inc. acquired a new stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 71,178 shares of the specialty pharmaceutical company's stock, valued at approximately $12,100,000. Jazz Pharmaceuticals makes up approximately 0.2% of Simplify Asset Management Inc.'s investment portfolio, making the stock its 20th biggest holding. Simplify Asset Management Inc. owned 0.12% of Jazz Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in JAZZ. Hilltop National Bank purchased a new stake in Jazz Pharmaceuticals in the 4th quarter valued at approximately $36,000. LRI Investments LLC purchased a new stake in Jazz Pharmaceuticals in the 4th quarter valued at approximately $38,000. Danske Bank A S purchased a new stake in Jazz Pharmaceuticals in the 3rd quarter valued at approximately $40,000. Geneos Wealth Management Inc. boosted its holdings in 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 purchasing an additional 137 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted 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 valued at $47,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 89.14% of the company's stock.

Jazz Pharmaceuticals Price Performance

JAZZ stock opened at $239.83 on Monday. The firm has a 50 day moving average of $202.44 and a 200-day moving average of $180.29. Jazz Pharmaceuticals PLC has a 12-month low of $105.00 and a 12-month high of $243.32. The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $15.05 billion, a price-to-earnings ratio of -11,985.51, a PEG ratio of 0.43 and a beta of 0.27.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted 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 net margin of 0.66% and a return on equity of 14.56%. The company had revenue of $1.07 billion during the quarter. As a group, equities analysts expect that Jazz Pharmaceuticals PLC will post 20.75 EPS for the current fiscal year.

Insider Activity

In related news, Director Bruce C. Cozadd sold 6,000 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $190.50, for a total transaction of $1,143,000.00. Following the completion of the transaction, the director directly owned 384,682 shares in the company, valued at $73,281,921. The trade was a 1.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena M. Patil sold 55,600 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $191.56, for a total value of $10,650,736.00. Following the transaction, the executive vice president owned 56,862 shares of the company's stock, valued at $10,892,484.72. This represents a 49.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 74,015 shares of company stock worth $14,180,486. 4.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

JAZZ has been the subject of a number of research reports. Robert W. Baird set a $252.00 price target on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. Bank of America lifted their price target on shares of Jazz Pharmaceuticals from $263.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday, February 25th. UBS Group upgraded shares of Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and lifted their price target for the company from $188.00 to $307.00 in a research report on Tuesday, May 19th. Sanford C. Bernstein initiated coverage on shares of Jazz Pharmaceuticals in a research report on Thursday. They set a "market perform" rating and a $229.00 price target for the company. Finally, Raymond James Financial reiterated an "outperform" rating and set a $239.00 price target on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $241.53.

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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