M&T Bank Corp Decreases Stock Holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

M&T Bank Corp reduced its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 16.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,202 shares of the specialty pharmaceutical company’s stock after selling 633 shares during the quarter. M&T Bank Corp’s holdings in Jazz Pharmaceuticals were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. LSV Asset Management lifted its stake in shares of Jazz Pharmaceuticals by 1.5% during the 4th quarter. LSV Asset Management now owns 2,531,050 shares of the specialty pharmaceutical company’s stock worth $311,699,000 after purchasing an additional 37,108 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Jazz Pharmaceuticals by 18.7% during 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 buying an additional 320,724 shares in the last quarter. Capital World Investors increased its position in Jazz Pharmaceuticals by 5.7% during 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 buying an additional 104,195 shares in the last quarter. Ameriprise Financial Inc. increased its position in Jazz Pharmaceuticals by 20.9% during the 4th quarter. Ameriprise Financial Inc. now owns 1,827,658 shares of the specialty pharmaceutical company’s stock valued at $225,076,000 after buying an additional 315,608 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Jazz Pharmaceuticals by 4.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,587,541 shares of the specialty pharmaceutical company’s stock valued at $195,506,000 after buying an additional 72,007 shares in the last quarter. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on JAZZ. Deutsche Bank Aktiengesellschaft began coverage on Jazz Pharmaceuticals in a research report on Tuesday. They set a “buy” rating and a $152.00 target price on the stock. Royal Bank Of Canada reduced their target price on Jazz Pharmaceuticals from $182.00 to $172.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $202.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, June 11th. Morgan Stanley reduced their target price on Jazz Pharmaceuticals from $183.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Finally, Wall Street Zen lowered Jazz Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.71.

Jazz Pharmaceuticals Stock Up 3.4%

Shares of JAZZ opened at $116.08 on Thursday. Jazz Pharmaceuticals PLC has a 52 week low of $95.49 and a 52 week high of $148.06. The company has a quick ratio of 2.97, a current ratio of 3.38 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 4.27 and a beta of 0.32. The stock’s 50-day moving average price is $108.50 and its 200-day moving average price is $118.40.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its earnings results on Tuesday, May 6th. The specialty pharmaceutical company reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $4.65 by ($2.97). Jazz Pharmaceuticals had a return on equity of 26.62% and a net margin of 11.86%. The company had revenue of $897.84 million during the quarter, compared to analysts’ expectations of $984.16 million. During the same quarter in the previous year, the company earned $2.68 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts predict that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current year.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Seamus Mulligan purchased 1,621 shares of the stock in a transaction on Monday, May 12th. The shares were bought at an average price of $103.00 per share, for a total transaction of $166,963.00. Following the completion of the transaction, the director owned 101,621 shares of the company’s stock, valued at $10,466,963. This trade represents a 1.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Bruce C. Cozadd sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $107.63, for a total value of $107,630.00. Following the transaction, the chief executive officer owned 436,973 shares in the company, valued at $47,031,403.99. This represents a 0.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,500 shares of company stock worth $277,930 in the last 90 days. Company insiders own 4.30% of the company’s stock.

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.