Evergreen Capital Management LLC Lowers Stock Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Evergreen Capital Management LLC trimmed its holdings in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 83.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,843 shares of the specialty pharmaceutical company’s stock after selling 14,815 shares during the period. Evergreen Capital Management LLC’s holdings in Jazz Pharmaceuticals were worth $303,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of JAZZ. EverSource Wealth Advisors LLC lifted its position in shares of Jazz Pharmaceuticals by 55.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 273 shares of the specialty pharmaceutical company’s stock valued at $30,000 after acquiring an additional 97 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Jazz Pharmaceuticals by 0.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 16,082 shares of the specialty pharmaceutical company’s stock worth $1,937,000 after purchasing an additional 99 shares in the last quarter. ProShare Advisors LLC grew its holdings in Jazz Pharmaceuticals by 1.4% in the first quarter. ProShare Advisors LLC now owns 7,439 shares of the specialty pharmaceutical company’s stock valued at $896,000 after purchasing an additional 105 shares during the last quarter. Pinnacle Associates Ltd. increased its position in shares of Jazz Pharmaceuticals by 1.1% in the first quarter. Pinnacle Associates Ltd. now owns 10,371 shares of the specialty pharmaceutical company’s stock valued at $1,249,000 after buying an additional 110 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Jazz Pharmaceuticals by 65.5% during the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the specialty pharmaceutical company’s stock worth $31,000 after buying an additional 116 shares during the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Jazz Pharmaceuticals

In other news, SVP Mary Elizabeth Henderson sold 1,410 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $108.30, for a total transaction of $152,703.00. Following the completion of the sale, the senior vice president now owns 14,531 shares in the company, valued at approximately $1,573,707.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $140.00 price objective on shares of Jazz Pharmaceuticals in a research note on Monday, September 9th. The Goldman Sachs Group assumed coverage on shares of Jazz Pharmaceuticals in a research note on Wednesday, June 5th. They set a “buy” rating and a $169.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $205.00 target price on shares of Jazz Pharmaceuticals in a research note on Tuesday, September 10th. Morgan Stanley dropped their price target on Jazz Pharmaceuticals from $160.00 to $150.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Finally, StockNews.com upgraded Jazz Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Jazz Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ stock opened at $110.93 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 2.02 and a current ratio of 2.37. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 1.36 and a beta of 0.57. Jazz Pharmaceuticals plc has a one year low of $99.06 and a one year high of $137.38. The company has a 50 day moving average price of $111.02 and a 200 day moving average price of $110.82.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its earnings results on Wednesday, July 31st. The specialty pharmaceutical company reported $4.67 earnings per share for the quarter, topping the consensus estimate of $3.80 by $0.87. Jazz Pharmaceuticals had a return on equity of 28.65% and a net margin of 10.10%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Sell-side analysts anticipate that Jazz Pharmaceuticals plc will post 16.03 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.