Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its holdings in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 1.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 239,868 shares of the specialty pharmaceutical company’s stock after selling 3,137 shares during the period. Wedge Capital Management L L P NC owned 0.39% of Jazz Pharmaceuticals worth $29,780,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in Jazz Pharmaceuticals by 116.4% in the first quarter. UMB Bank n.a. now owns 673 shares of the specialty pharmaceutical company’s stock valued at $84,000 after purchasing an additional 362 shares during the last quarter. Radnor Capital Management LLC increased its stake in shares of Jazz Pharmaceuticals by 7.8% during the 1st quarter. Radnor Capital Management LLC now owns 8,540 shares of the specialty pharmaceutical company’s stock valued at $1,060,000 after acquiring an additional 615 shares during the last quarter. Lmcg Investments LLC lifted its holdings in shares of Jazz Pharmaceuticals by 63.6% during the 1st quarter. Lmcg Investments LLC now owns 74,370 shares of the specialty pharmaceutical company’s stock worth $9,233,000 after acquiring an additional 28,907 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Jazz Pharmaceuticals by 5.3% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 37,802 shares of the specialty pharmaceutical company’s stock worth $4,693,000 after acquiring an additional 1,908 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in shares of Jazz Pharmaceuticals in the first quarter worth approximately $281,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Stock Up 2.1%

NASDAQ JAZZ opened at $111.13 on Friday. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. Jazz Pharmaceuticals plc has a fifty-two week low of $95.49 and a fifty-two week high of $148.06. The business has a 50 day moving average price of $108.09 and a two-hundred day moving average price of $121.01. The stock has a market cap of $6.85 billion, a PE ratio of 15.65, a P/E/G ratio of 1.04 and a beta of 0.33.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its earnings results on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 earnings per share for the quarter, missing the consensus estimate of $4.65 by ($2.97). Jazz Pharmaceuticals had a net margin of 11.60% and a return on equity of 29.30%. The firm had revenue of $897.84 million during the quarter, compared to analysts’ expectations of $984.16 million. During the same quarter last year, the company posted $2.68 earnings per share. Jazz Pharmaceuticals’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that Jazz Pharmaceuticals plc will post 16.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on JAZZ shares. Royal Bank of Canada cut their price target on shares of Jazz Pharmaceuticals from $182.00 to $172.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Robert W. Baird cut 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, May 7th. Needham & Company LLC reiterated a “buy” rating and issued a $202.00 target price on shares of Jazz Pharmaceuticals in a report on Tuesday, June 3rd. HC Wainwright upped their price target on Jazz Pharmaceuticals from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, Morgan Stanley reduced their price objective on Jazz Pharmaceuticals from $183.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $184.00.

Insider Transactions at Jazz Pharmaceuticals

In related news, Director Seamus Mulligan acquired 100,000 shares of the firm’s stock in a transaction on Friday, May 9th. The stock was bought at an average cost of $98.26 per share, with a total value of $9,826,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at approximately $9,826,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Patricia Carr sold 1,140 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $137.81, for a total transaction of $157,103.40. Following the completion of the sale, the chief accounting officer now directly owns 7,012 shares of the company’s stock, valued at $966,323.72. The trade was a 13.98% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,543 shares of company stock valued at $845,628. 4.20% of the stock is currently owned by insiders.

About Jazz Pharmaceuticals

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.