Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management reduced its position in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 17.8% during the 4th quarter, HoldingsChannel reports. The fund owned 66,274 shares of the specialty pharmaceutical company’s stock after selling 14,333 shares during the period. Meritage Portfolio Management’s holdings in Jazz Pharmaceuticals were worth $8,162,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in JAZZ. Choreo LLC lifted its holdings in Jazz Pharmaceuticals by 58.2% in the 4th quarter. Choreo LLC now owns 2,954 shares of the specialty pharmaceutical company’s stock valued at $363,000 after purchasing an additional 1,087 shares in the last quarter. Tectonic Advisors LLC grew its holdings in shares of Jazz Pharmaceuticals by 12.4% during the 4th quarter. Tectonic Advisors LLC now owns 4,374 shares of the specialty pharmaceutical company’s stock worth $539,000 after purchasing an additional 483 shares during the period. Trust Point Inc. purchased a new position in Jazz Pharmaceuticals during the fourth quarter worth about $213,000. China Universal Asset Management Co. Ltd. increased its holdings in Jazz Pharmaceuticals by 7.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,819 shares of the specialty pharmaceutical company’s stock valued at $1,579,000 after purchasing an additional 942 shares during the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Jazz Pharmaceuticals in the fourth quarter valued at $206,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Trading Down 0.3 %

Shares of Jazz Pharmaceuticals stock opened at $121.63 on Wednesday. The stock has a market cap of $7.35 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 0.90 and a beta of 0.56. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46. The company has a 50-day moving average of $122.62 and a two-hundred day moving average of $116.28. Jazz Pharmaceuticals plc has a 12-month low of $99.06 and a 12-month high of $134.17.

Insiders Place Their Bets

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 3,700 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $123.41, for a total value of $456,617.00. Following the completion of the transaction, the executive vice president now directly owns 33,048 shares in the company, valued at approximately $4,078,453.68. The trade was a 10.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bruce C. Cozadd sold 1,500 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $123.43, for a total value of $185,145.00. Following the completion of the transaction, the chief executive officer now owns 425,525 shares of the company’s stock, valued at $52,522,550.75. The trade was a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,253 shares of company stock worth $890,594. 4.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JAZZ. Royal Bank of Canada reaffirmed an “outperform” rating and set a $179.00 target price on shares of Jazz Pharmaceuticals in a research note on Tuesday, December 10th. Robert W. Baird raised their target price on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. HC Wainwright reissued a “buy” rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a research report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $163.00 price objective on shares of Jazz Pharmaceuticals in a report on Thursday, December 12th. Finally, TD Cowen lowered their price target on Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Jazz Pharmaceuticals Company 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.