Parallel Advisors LLC Acquires 119 Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Parallel Advisors LLC increased its holdings in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 85.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 258 shares of the specialty pharmaceutical company’s stock after purchasing an additional 119 shares during the quarter. Parallel Advisors LLC’s holdings in Jazz Pharmaceuticals were worth $32,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of JAZZ. LSV Asset Management increased its position in shares of Jazz Pharmaceuticals by 1.5% during the fourth quarter. LSV Asset Management now owns 2,531,050 shares of the specialty pharmaceutical company’s stock worth $311,699,000 after acquiring an additional 37,108 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Jazz Pharmaceuticals by 18.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,035,070 shares of the specialty pharmaceutical company’s stock valued at $250,619,000 after purchasing an additional 320,724 shares during the period. Capital World Investors raised its stake in shares of Jazz Pharmaceuticals by 5.7% in the 4th quarter. Capital World Investors now owns 1,923,342 shares of the specialty pharmaceutical company’s stock valued at $236,860,000 after purchasing an additional 104,195 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Jazz Pharmaceuticals by 20.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,827,658 shares of the specialty pharmaceutical company’s stock valued at $225,076,000 after purchasing an additional 315,608 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Jazz Pharmaceuticals by 4.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,587,541 shares of the specialty pharmaceutical company’s stock worth $195,506,000 after buying an additional 72,007 shares during the period. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Seamus Mulligan purchased 100,000 shares of the business’s stock in a transaction dated Friday, May 9th. The shares were purchased at an average price of $98.26 per share, for a total transaction of $9,826,000.00. Following the completion of the acquisition, the director now directly owns 100,000 shares in the company, valued at $9,826,000. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Bruce C. Cozadd sold 500 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $107.90, for a total transaction of $53,950.00. Following the sale, the chief executive officer now owns 438,473 shares in the company, valued at approximately $47,311,236.70. The trade was a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,000 shares of company stock valued at $355,925 over the last quarter. Corporate insiders own 4.20% of the company’s stock.

Jazz Pharmaceuticals Price Performance

JAZZ stock opened at $111.87 on Tuesday. The firm’s 50-day moving average price is $107.80 and its two-hundred day moving average price is $120.88. Jazz Pharmaceuticals plc has a 12-month low of $95.49 and a 12-month high of $148.06. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 1.04 and a beta of 0.33. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings results on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.65 by ($2.97). Jazz Pharmaceuticals had a net margin of 11.60% and a return on equity of 29.30%. The company had revenue of $897.84 million for the quarter, compared to analysts’ expectations of $984.16 million. During the same quarter in the prior year, the firm earned $2.68 EPS. Jazz Pharmaceuticals’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts predict that Jazz Pharmaceuticals plc will post 16.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

JAZZ has been the topic of a number of recent research reports. UBS Group raised Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $179.00 in a research report on Friday, March 7th. Truist Financial lifted their price objective on shares of Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Wall Street Zen cut shares of Jazz Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. HC Wainwright lifted their price target on shares of Jazz Pharmaceuticals from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, Piper Sandler reissued an “overweight” rating and set a $147.00 price target (down from $176.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Jazz Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $184.00.

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.