Zurcher Kantonalbank Zurich Cantonalbank Buys 197,072 Shares of Jazz Pharmaceuticals PLC $JAZZ

Key Points

• Zurcher Kantonalbank increased its stake in Jazz Pharmaceuticals by 624.2%, buying 197,072 shares to own 228,642 shares (about $38.87 million or ~0.38% of the company) at the end of the quarter.
• Insiders have been selling: directors and officers sold 74,015 shares in the past 90 days (including Bruce C. Cozadd’s 6,000-share sale and Mary E. Henderson’s 5,343-share sale), and company insiders now own 4.30% of the stock.
• Analyst sentiment is positive, with a consensus rating of "Moderate Buy" and an average price target of $216.29; several firms have recently raised targets and the company beat quarterly estimates (EPS $6.64 vs. $6.49; revenue $1.20B vs. $1.17B).

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ - Free Report) by 624.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,642 shares of the specialty pharmaceutical company's stock after purchasing an additional 197,072 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.38% of Jazz Pharmaceuticals worth $38,869,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in Jazz Pharmaceuticals by 9.0% in the third quarter. EverSource Wealth Advisors LLC now owns 983 shares of the specialty pharmaceutical company's stock worth $130,000 after acquiring an additional 81 shares in the last quarter. Tectonic Advisors LLC lifted its holdings in shares of Jazz Pharmaceuticals by 1.5% in the 3rd quarter. Tectonic Advisors LLC now owns 5,626 shares of the specialty pharmaceutical company's stock worth $742,000 after purchasing an additional 82 shares in the last quarter. Fairbanks Capital Management Inc. grew its position in 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 purchasing an additional 94 shares during the period. Blair William & Co. IL grew its position in Jazz Pharmaceuticals by 5.0% in the 3rd quarter. Blair William & Co. IL now owns 2,107 shares of the specialty pharmaceutical company's stock valued at $278,000 after purchasing an additional 101 shares during the period. Finally, Blue Trust Inc. increased its stake in Jazz Pharmaceuticals by 3.5% during the 3rd quarter. Blue Trust Inc. now owns 3,261 shares of the specialty pharmaceutical company's stock valued at $430,000 after purchasing an additional 109 shares in the last quarter. 89.14% of the stock is owned by institutional investors.

Insider Transactions at Jazz Pharmaceuticals

In related news, Director Bruce C. Cozadd sold 6,000 shares of the company's stock in a transaction that occurred on 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 owned 384,682 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mary Elizabeth Henderson sold 5,343 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $194.49, for a total value of $1,039,160.07. Following the completion of the sale, the senior vice president owned 28,728 shares in the company, valued at $5,587,308.72. This trade represents a 15.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 74,015 shares of company stock valued at $14,180,486. Company insiders own 4.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on JAZZ shares. TD Cowen reaffirmed a "buy" rating on shares of Jazz Pharmaceuticals in a research note on Thursday, January 29th. Morgan Stanley raised their price target on shares of Jazz Pharmaceuticals from $225.00 to $226.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. Truist Financial raised Jazz Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, March 25th. Royal Bank Of Canada upped their price target on Jazz Pharmaceuticals from $191.00 to $195.00 and gave the stock an "outperform" rating in a report on Wednesday, February 25th. Finally, Wells Fargo & Company upped their target price on shares of Jazz Pharmaceuticals from $235.00 to $250.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $216.29.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ opened at $202.56 on Tuesday. The firm has a market cap of $12.47 billion, a price-to-earnings ratio of -33.93, a price-to-earnings-growth ratio of 0.35 and a beta of 0.23. The stock has a fifty day simple moving average of $184.27 and a two-hundred day simple moving average of $167.51. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 1.00. Jazz Pharmaceuticals PLC has a 1-year low of $97.50 and a 1-year high of $207.48.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The specialty pharmaceutical company reported $6.64 EPS for the quarter, beating the consensus estimate of $6.49 by $0.15. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. The company's revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.51 earnings per share. Analysts anticipate that Jazz Pharmaceuticals PLC will post 20.65 earnings per share for the current 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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