Truist Financial Corp Has $1.86 Million Holdings in Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Truist Financial Corp cut its Jazz Pharmaceuticals stake by 66.5% in the fourth quarter, selling 21,747 shares and ending with 10,951 shares valued at about $1.86 million.
• Jazz Pharmaceuticals reported strong recent results, posting $6.34 EPS on $1.07 billion in quarterly revenue, while analysts now expect 20.75 EPS for the full year.
• Insiders have been selling shares, including EVP Neena M. Patil and Director Norbert G. Riedel, while Wall Street remains mostly bullish with a Moderate Buy consensus and a target price of $230.56.

Truist Financial Corp reduced its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 66.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,951 shares of the specialty pharmaceutical company's stock after selling 21,747 shares during the quarter. Truist Financial Corp's holdings in Jazz Pharmaceuticals were worth $1,862,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Hilltop National Bank acquired a new position in shares of Jazz Pharmaceuticals in the 4th quarter worth approximately $36,000. GoalVest Advisory LLC acquired a new position in Jazz Pharmaceuticals during the 4th quarter worth $51,000. Danske Bank A S acquired a new position in Jazz Pharmaceuticals during the 3rd quarter worth $40,000. Quent Capital LLC acquired a new position in Jazz Pharmaceuticals during the 3rd quarter worth $44,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Jazz Pharmaceuticals by 1,383.3% during 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 in the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Stock Performance

Shares of Jazz Pharmaceuticals stock opened at $231.05 on Friday. The firm has a fifty day moving average of $196.38 and a two-hundred day moving average of $176.14. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of -11,546.73, a PEG ratio of 0.41 and a beta of 0.27. Jazz Pharmaceuticals PLC has a 52 week low of $103.60 and a 52 week high of $235.00. 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 (NASDAQ:JAZZ - Get Free Report) last issued 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 during the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. As a group, equities research analysts predict that Jazz Pharmaceuticals PLC will post 20.75 EPS for the current year.

Insider Activity at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 55,600 shares of the company's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $191.56, for a total transaction of $10,650,736.00. Following the completion of the sale, the executive vice president owned 56,862 shares in the company, valued at approximately $10,892,484.72. The trade was a 49.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Norbert G. Riedel sold 3,415 shares of the company's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $192.00, for a total transaction of $655,680.00. Following the sale, the director owned 7,024 shares of the company's stock, valued at $1,348,608. The trade was a 32.71% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 74,015 shares of company stock worth $14,180,486. 4.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on JAZZ shares. Morgan Stanley reaffirmed an "overweight" rating and set a $245.00 price objective on shares of Jazz Pharmaceuticals in a report on Thursday, May 7th. Barclays upped their price objective on Jazz Pharmaceuticals from $225.00 to $234.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Wells Fargo & Company upped their price objective on Jazz Pharmaceuticals from $250.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. TD Cowen upped their price objective on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada upped their price objective on Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $230.56.

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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