Fairbanks Capital Management Inc. Trims Stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Fairbanks Capital Management Inc. lowered its position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,934 shares of the specialty pharmaceutical company’s stock after selling 567 shares during the quarter. Jazz Pharmaceuticals comprises about 2.2% of Fairbanks Capital Management Inc.’s portfolio, making the stock its 17th largest position. Fairbanks Capital Management Inc.’s holdings in Jazz Pharmaceuticals were worth $3,123,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Estuary Capital Management LP increased its stake in Jazz Pharmaceuticals by 67.2% in the 1st quarter. Estuary Capital Management LP now owns 213,450 shares of the specialty pharmaceutical company’s stock worth $25,704,000 after buying an additional 85,779 shares during the period. Capital World Investors purchased a new position in Jazz Pharmaceuticals in the 1st quarter worth about $171,943,000. Advisors Asset Management Inc. increased its stake in Jazz Pharmaceuticals by 9.2% in the 1st quarter. Advisors Asset Management Inc. now owns 9,722 shares of the specialty pharmaceutical company’s stock worth $1,171,000 after buying an additional 819 shares during the period. Vident Advisory LLC increased its stake in Jazz Pharmaceuticals by 39.8% in the 1st quarter. Vident Advisory LLC now owns 124,259 shares of the specialty pharmaceutical company’s stock worth $14,963,000 after buying an additional 35,347 shares during the period. Finally, CM Management LLC purchased a new position in Jazz Pharmaceuticals in the 1st quarter worth about $1,505,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Insider Activity at Jazz Pharmaceuticals

In related news, EVP Neena M. Patil sold 5,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $109.65, for a total value of $548,250.00. Following the completion of the transaction, the executive vice president now directly owns 36,629 shares of the company’s stock, valued at approximately $4,016,369.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is currently owned by insiders.

Jazz Pharmaceuticals Stock Performance

Shares of Jazz Pharmaceuticals stock traded up $1.16 during midday trading on Tuesday, hitting $112.27. The company had a trading volume of 695,507 shares, compared to its average volume of 675,565. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 1.72 and a beta of 0.58. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 1.38. The company has a fifty day simple moving average of $107.37 and a 200 day simple moving average of $114.18. Jazz Pharmaceuticals plc has a 12-month low of $99.06 and a 12-month high of $146.70.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings data on Wednesday, May 1st. The specialty pharmaceutical company reported $1.98 EPS for the quarter, missing the consensus estimate of $3.53 by ($1.55). The company had revenue of $901.98 million during the quarter, compared to analysts’ expectations of $938.99 million. Jazz Pharmaceuticals had a net margin of 8.61% and a return on equity of 27.86%. As a group, analysts predict that Jazz Pharmaceuticals plc will post 15.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

JAZZ has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Jazz Pharmaceuticals in a report on Wednesday, June 5th. They set a “buy” rating and a $169.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a report on Friday, May 3rd. UBS Group dropped their target price on shares of Jazz Pharmaceuticals from $117.00 to $113.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Needham & Company LLC dropped their target price on shares of Jazz Pharmaceuticals from $222.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Finally, StockNews.com cut shares of Jazz Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $185.86.

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.