Swedbank AB Increases Stock Holdings in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Swedbank AB increased its stake in Jazz Pharmaceuticals by 2.7% in the fourth quarter, adding 28,882 shares to bring its total holding to 1,102,974 shares valued at about $187.5 million.
• Wall Street remains bullish on JAZZ, with several firms raising price targets; the stock’s consensus rating is “Moderate Buy” and the average price target is $230.56.
• Insiders have been selling shares recently, including director Norbert G. Riedel and EVP Neena M. Patil, while Jazz Pharmaceuticals’ stock traded near its 52-week high at $228.77.

Swedbank AB boosted its position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,102,974 shares of the specialty pharmaceutical company's stock after acquiring an additional 28,882 shares during the quarter. Swedbank AB owned 1.82% of Jazz Pharmaceuticals worth $187,506,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Cardinal Capital Management boosted its stake in shares of Jazz Pharmaceuticals by 0.5% in the 4th quarter. Cardinal Capital Management now owns 14,538 shares of the specialty pharmaceutical company's stock valued at $2,471,000 after buying an additional 66 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Jazz Pharmaceuticals by 9.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 983 shares of the specialty pharmaceutical company's stock valued at $130,000 after buying an additional 81 shares during the period. Pinnacle Associates Ltd. boosted its stake in shares of Jazz Pharmaceuticals by 0.7% in the 4th quarter. Pinnacle Associates Ltd. now owns 11,203 shares of the specialty pharmaceutical company's stock valued at $1,905,000 after buying an additional 83 shares during the period. Fairbanks Capital Management Inc. boosted its stake in shares of Jazz Pharmaceuticals by 0.4% in the 3rd quarter. Fairbanks Capital Management Inc. now owns 25,023 shares of the specialty pharmaceutical company's stock valued at $3,298,000 after buying an additional 94 shares during the period. Finally, Danske Bank A S boosted its stake in shares of Jazz Pharmaceuticals by 33.3% in the 4th quarter. Danske Bank A S now owns 400 shares of the specialty pharmaceutical company's stock valued at $68,000 after buying an additional 100 shares during the period. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JAZZ has been the subject of several recent research reports. Royal Bank Of Canada lifted their price objective on Jazz Pharmaceuticals from $195.00 to $258.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Morgan Stanley reiterated an "overweight" rating and issued a $245.00 price objective on shares of Jazz Pharmaceuticals in a research note on Thursday, May 7th. Barclays lifted their price objective on Jazz Pharmaceuticals from $225.00 to $234.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Leerink Partners boosted their target price on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Finally, Piper Sandler boosted their target price on Jazz Pharmaceuticals from $219.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, March 19th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $230.56.

Insider Activity

In related news, Director Norbert G. Riedel sold 3,415 shares of the business's stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $192.00, for a total transaction of $655,680.00. Following the completion of the sale, the director owned 7,024 shares in the company, valued at $1,348,608. The trade was a 32.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 directly owned 56,862 shares in the company, valued at approximately $10,892,484.72. This trade represents a 49.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 74,015 shares of company stock valued at $14,180,486 over the last 90 days. Insiders own 4.30% of the company's stock.

Jazz Pharmaceuticals Price Performance

JAZZ stock opened at $228.77 on Friday. The business has a 50 day moving average price of $197.18 and a 200 day moving average price of $176.51. The stock has a market cap of $14.35 billion, a price-to-earnings ratio of -11,432.78, a PEG ratio of 0.41 and a beta of 0.27. Jazz Pharmaceuticals PLC has a fifty-two week low of $105.00 and a fifty-two week high of $235.00. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last posted its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. The firm had revenue of $1.07 billion during the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%. Equities research analysts anticipate that Jazz Pharmaceuticals PLC will post 20.75 earnings per share for the current fiscal year.

Jazz Pharmaceuticals 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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