Avidity Partners Management LP Decreases Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Avidity Partners Management LP reduced its position in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 45.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 234,500 shares of the specialty pharmaceutical company's stock after selling 196,500 shares during the quarter. Jazz Pharmaceuticals comprises about 2.8% of Avidity Partners Management LP's portfolio, making the stock its 12th biggest position. Avidity Partners Management LP owned 0.39% of Jazz Pharmaceuticals worth $28,879,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of JAZZ. IFP Advisors Inc purchased a new stake in Jazz Pharmaceuticals in the fourth quarter worth about $25,000. Quadrant Capital Group LLC lifted its position in shares of Jazz Pharmaceuticals by 97.1% in the 4th quarter. Quadrant Capital Group LLC now owns 205 shares of the specialty pharmaceutical company's stock worth $25,000 after purchasing an additional 101 shares during the period. CoreFirst Bank & Trust bought a new position in shares of Jazz Pharmaceuticals during the fourth quarter valued at approximately $28,000. Allianz SE purchased a new position in Jazz Pharmaceuticals during the fourth quarter valued at approximately $29,000. Finally, Jones Financial Companies Lllp raised its stake in Jazz Pharmaceuticals by 75.1% in the fourth quarter. Jones Financial Companies Lllp now owns 303 shares of the specialty pharmaceutical company's stock worth $37,000 after buying an additional 130 shares in the last quarter. 89.14% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Bruce C. Cozadd sold 1,000 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $116.35, for a total value of $116,350.00. Following the completion of the transaction, the chief executive officer now owns 439,307 shares of the company's stock, valued at approximately $51,113,369.45. This represents a 0.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Neena M. Patil sold 3,800 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $144.87, for a total value of $550,506.00. Following the completion of the sale, the executive vice president now directly owns 33,318 shares in the company, valued at approximately $4,826,778.66. The trade was a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,236 shares of company stock valued at $3,956,190 in the last three months. 4.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Robert W. Baird dropped their target price on Jazz Pharmaceuticals from $167.00 to $155.00 and set an "outperform" rating on the stock in a research report on Wednesday. HC Wainwright raised their price objective on Jazz Pharmaceuticals from $200.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Piper Sandler reissued an "overweight" rating and set a $147.00 price target (down from $176.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday. Royal Bank of Canada cut their price objective on shares of Jazz Pharmaceuticals from $182.00 to $172.00 and set an "outperform" rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Jazz Pharmaceuticals from $200.00 to $209.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Jazz Pharmaceuticals has an average rating of "Buy" and a consensus target price of $182.79.

Jazz Pharmaceuticals Stock Performance

Shares of Jazz Pharmaceuticals stock traded down $9.73 during trading on Wednesday, hitting $101.44. 3,079,379 shares of the company's stock were exchanged, compared to its average volume of 824,981. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.04 and a beta of 0.38. The business has a 50-day simple moving average of $121.47 and a 200-day simple moving average of $122.47. Jazz Pharmaceuticals plc has a 52-week low of $95.49 and a 52-week high of $148.06. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last issued its earnings results on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 EPS for the quarter, missing analysts' consensus estimates of $4.65 by ($2.97). Jazz Pharmaceuticals had a return on equity of 29.30% and a net margin of 11.60%. The company had revenue of $897.84 million during the quarter, compared to analysts' expectations of $984.16 million. During the same quarter in the previous year, the company earned $2.68 EPS. The firm's quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts forecast that Jazz Pharmaceuticals plc will post 16.96 EPS for the current year.

Jazz Pharmaceuticals Profile

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.