Meritage Portfolio Management Reduces Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Meritage Portfolio Management trimmed its holdings in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,607 shares of the specialty pharmaceutical company’s stock after selling 771 shares during the quarter. Meritage Portfolio Management owned about 0.13% of Jazz Pharmaceuticals worth $8,980,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. lifted its position in Jazz Pharmaceuticals by 23.6% during the third quarter. Crossmark Global Holdings Inc. now owns 5,083 shares of the specialty pharmaceutical company’s stock worth $567,000 after buying an additional 970 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter worth $3,197,000. Philip James Wealth Mangement LLC purchased a new position in shares of Jazz Pharmaceuticals during the 3rd quarter worth $830,000. AlphaCentric Advisors LLC boosted its position in shares of Jazz Pharmaceuticals by 40.9% during the 3rd quarter. AlphaCentric Advisors LLC now owns 15,500 shares of the specialty pharmaceutical company’s stock valued at $1,727,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Jazz Pharmaceuticals by 11.4% in the third quarter. Van ECK Associates Corp now owns 60,211 shares of the specialty pharmaceutical company’s stock valued at $6,691,000 after purchasing an additional 6,157 shares during the period. 89.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on JAZZ shares. TD Cowen reduced their target price on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday. HC Wainwright reiterated a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals in a report on Thursday, August 1st. StockNews.com upgraded Jazz Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Piper Sandler reduced their target price on Jazz Pharmaceuticals from $188.00 to $166.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their price target on Jazz Pharmaceuticals from $190.00 to $202.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.00.

Insider Buying and Selling

In related news, CEO Bruce C. Cozadd sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $110.84, for a total transaction of $110,840.00. Following the sale, the chief executive officer now directly owns 428,976 shares in the company, valued at approximately $47,547,699.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Mary Elizabeth Henderson sold 1,410 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $108.30, for a total transaction of $152,703.00. Following the completion of the transaction, the senior vice president now owns 14,531 shares in the company, valued at approximately $1,573,707.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Bruce C. Cozadd sold 1,000 shares of Jazz Pharmaceuticals stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $110.84, for a total value of $110,840.00. Following the sale, the chief executive officer now directly owns 428,976 shares of the company’s stock, valued at $47,547,699.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

Jazz Pharmaceuticals Stock Up 3.8 %

Shares of NASDAQ JAZZ traded up $4.53 during midday trading on Friday, hitting $123.61. The company’s stock had a trading volume of 868,107 shares, compared to its average volume of 525,365. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.37 and a quick ratio of 2.02. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 1.40 and a beta of 0.57. The business’s fifty day simple moving average is $110.64 and its two-hundred day simple moving average is $109.78. Jazz Pharmaceuticals plc has a 1 year low of $99.06 and a 1 year high of $134.17.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Wednesday, November 6th. The specialty pharmaceutical company reported $5.86 EPS for the quarter, beating the consensus estimate of $4.54 by $1.32. Jazz Pharmaceuticals had a net margin of 11.60% and a return on equity of 30.16%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. On average, equities analysts predict that Jazz Pharmaceuticals plc will post 16.02 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.