Tri Locum Partners LP Takes $30 Million Position in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Tri Locum Partners LP acquired a new $30 million stake in Jazz Pharmaceuticals, purchasing 158,663 shares and making JAZZ approximately 4.2% of its portfolio. Institutional investors collectively own 89.14% of the company.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $259.06; several firms recently raised their targets.
• JAZZ shares opened at $255.97, near their 52-week high of $261.30. The company reported quarterly revenue of $1.07 billion and earnings of $6.34 per share, while insiders sold more than $3.1 million in stock during the last quarter.

Tri Locum Partners LP acquired a new stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 158,663 shares of the specialty pharmaceutical company's stock, valued at approximately $29,995,000. Jazz Pharmaceuticals makes up approximately 4.2% of Tri Locum Partners LP's portfolio, making the stock its 12th largest position. Tri Locum Partners LP owned 0.25% of Jazz Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of JAZZ. Vestal Point Capital LP bought a new position in Jazz Pharmaceuticals in the 2nd quarter valued at $127,344,000. Franklin Resources Inc. increased its holdings in shares of Jazz Pharmaceuticals by 164.0% in the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company's stock worth $309,215,000 after purchasing an additional 1,129,995 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Jazz Pharmaceuticals by 160.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company's stock worth $197,516,000 after purchasing an additional 715,361 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Jazz Pharmaceuticals by 258.2% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company's stock worth $93,160,000 after buying an additional 395,000 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of Jazz Pharmaceuticals by 592.1% in the third quarter. Schonfeld Strategic Advisors LLC now owns 436,443 shares of the specialty pharmaceutical company's stock worth $57,523,000 after buying an additional 373,383 shares in the last quarter. Institutional investors own 89.14% of the company's stock.

Analyst Upgrades and Downgrades

JAZZ has been the subject of several recent analyst reports. Weiss Ratings upgraded Jazz Pharmaceuticals from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 29th. Leerink Partners lifted their price target on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. Bank of America lifted their target price on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. Raymond James Financial reissued an "outperform" rating and issued a $239.00 price target on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Jazz Pharmaceuticals from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $259.06.

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, Director Rick E. Winningham sold 2,741 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $241.57, for a total value of $662,143.37. Following the completion of the sale, the director owned 9,567 shares of the company's stock, valued at approximately $2,311,100.19. The trade was a 22.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Neena M. Patil sold 1,200 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total value of $278,196.00. Following the sale, the executive vice president owned 51,549 shares of the company's stock, valued at $11,950,604.67. This represents a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 13,098 shares of company stock valued at $3,131,906. 4.10% of the stock is currently owned by insiders.

Jazz Pharmaceuticals Trading Down 0.4%

JAZZ stock opened at $255.97 on Thursday. The company has a market capitalization of $16.08 billion, a PE ratio of -12,792.10, a price-to-earnings-growth ratio of 0.23 and a beta of 0.32. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. Jazz Pharmaceuticals PLC has a one year low of $105.00 and a one year high of $261.30. The company's 50 day moving average price is $238.62 and its two-hundred day moving average price is $205.35.

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