2,594 Jazz Pharmaceuticals PLC $JAZZ Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. trimmed its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 24.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,107 shares of the specialty pharmaceutical company’s stock after selling 2,594 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Jazz Pharmaceuticals were worth $1,877,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its position in shares of Jazz Pharmaceuticals by 44.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,679,371 shares of the specialty pharmaceutical company’s stock worth $317,485,000 after purchasing an additional 517,514 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Jazz Pharmaceuticals by 10.9% during the first quarter. Bank of America Corp DE now owns 1,014,800 shares of the specialty pharmaceutical company’s stock worth $191,848,000 after purchasing an additional 99,656 shares in the last quarter. Boston Trust Walden Corp increased its holdings in Jazz Pharmaceuticals by 24.1% in the first quarter. Boston Trust Walden Corp now owns 488,661 shares of the specialty pharmaceutical company’s stock valued at $92,381,000 after buying an additional 94,750 shares during the last quarter. Systematic Financial Management LP increased its holdings in Jazz Pharmaceuticals by 2.6% in the first quarter. Systematic Financial Management LP now owns 407,114 shares of the specialty pharmaceutical company’s stock valued at $76,965,000 after buying an additional 10,237 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Jazz Pharmaceuticals in the first quarter valued at $60,496,000. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Jazz Pharmaceuticals news, Director Bruce Cozadd sold 6,000 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $230.33, for a total value of $1,381,980.00. Following the completion of the transaction, the director directly owned 345,875 shares in the company, valued at approximately $79,665,388.75. The trade was a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Neena Patil sold 1,200 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $240.94, for a total value of $289,128.00. Following the transaction, the executive vice president owned 47,671 shares in the company, valued at $11,485,850.74. This trade represents a 2.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 100,121 shares of company stock worth $24,855,802. 4.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup assumed coverage on Jazz Pharmaceuticals in a report on Wednesday, September 30th. They issued a “buy” rating and a $325.00 price objective on the stock. Piper Sandler boosted their target price on Jazz Pharmaceuticals from $301.00 to $310.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Wells Fargo & Company upped their price target on Jazz Pharmaceuticals from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Weiss Ratings upgraded shares of Jazz Pharmaceuticals from a “hold (c-)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Finally, Truist Financial increased their price target on shares of Jazz Pharmaceuticals from $281.00 to $286.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $290.85.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ:JAZZ opened at $214.00 on Friday. The business’s 50 day simple moving average is $236.11 and its 200-day simple moving average is $232.83. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 14.76, a price-to-earnings-growth ratio of 0.22 and a beta of 0.37. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.78 and a quick ratio of 1.58. Jazz Pharmaceuticals PLC has a 12 month low of $128.80 and a 12 month high of $266.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share for the quarter, missing the consensus estimate of $6.18 by ($0.47). Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business posted ($8.25) earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts forecast that Jazz Pharmaceuticals PLC will post 21.59 earnings per share for the current fiscal year.

Jazz Pharmaceuticals Profile

Jazz Pharmaceuticals plc is a biopharmaceutical company focused on developing and commercializing medicines for neurological, sleep-related and oncology disorders. The company serves patients and healthcare providers in the United States and international markets, with products marketed through its commercial operations and partnerships.

Jazz’s sleep portfolio includes Xyrem and Xywav, which are used to treat certain symptoms associated with narcolepsy. Following its acquisition of GW Pharmaceuticals, the company also added Epidiolex, a cannabidiol-based treatment for specific forms of treatment-resistant epilepsy.