Meridian Wealth Management LLC Invests $248,000 in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

Meridian Wealth Management LLC purchased a new position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,740 shares of the specialty pharmaceutical company’s stock, valued at approximately $248,000.

Other institutional investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of Jazz Pharmaceuticals by 4.2% in the first quarter. State Board of Administration of Florida Retirement System now owns 73,439 shares of the specialty pharmaceutical company’s stock worth $10,498,000 after buying an additional 2,974 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Jazz Pharmaceuticals by 16.8% in the first quarter. Envestnet Asset Management Inc. now owns 45,261 shares of the specialty pharmaceutical company’s stock worth $6,470,000 after buying an additional 6,496 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Jazz Pharmaceuticals by 31.0% in the first quarter. LSV Asset Management now owns 1,001,650 shares of the specialty pharmaceutical company’s stock worth $143,185,000 after buying an additional 237,190 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Jazz Pharmaceuticals by 16.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 111,430 shares of the specialty pharmaceutical company’s stock worth $15,929,000 after buying an additional 15,821 shares in the last quarter. Finally, Redmile Group LLC lifted its holdings in shares of Jazz Pharmaceuticals by 97.2% in the first quarter. Redmile Group LLC now owns 269,480 shares of the specialty pharmaceutical company’s stock worth $38,522,000 after buying an additional 132,800 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

JAZZ traded down $1.14 on Wednesday, reaching $140.34. The company had a trading volume of 5,826 shares, compared to its average volume of 377,814. The business has a 50 day moving average of $136.53. The stock has a market capitalization of $7.82 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 3.01 and a current ratio of 3.15. Jazz Pharmaceuticals PLC has a 52-week low of $113.52 and a 52-week high of $181.46.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its earnings results on Tuesday, May 7th. The specialty pharmaceutical company reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.44. Jazz Pharmaceuticals had a net margin of 24.88% and a return on equity of 27.35%. The business had revenue of $508.19 million for the quarter, compared to the consensus estimate of $466.55 million. During the same period last year, the firm posted $2.98 earnings per share. Jazz Pharmaceuticals’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities analysts expect that Jazz Pharmaceuticals PLC will post 13.24 EPS for the current fiscal year.

JAZZ has been the topic of a number of recent analyst reports. HC Wainwright set a $12.00 price target on shares of IMV and gave the stock a “buy” rating in a report on Friday, May 10th. Piper Jaffray Companies set a $202.00 price target on shares of Jazz Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, May 28th. TheStreet downgraded shares of VF from a “b+” rating to a “c” rating in a report on Wednesday, July 24th. Royal Bank of Canada set a $184.00 price target on shares of Jazz Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Barclays set a $164.00 price target on shares of Jazz Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $179.41.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various unmet medical needs in the United States, Europe, and internationally. The company has a portfolio of products and product candidates with a focus in the areas of sleep and hematology/oncology.

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Institutional Ownership by Quarter for Jazz Pharmaceuticals (NASDAQ:JAZZ)

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