Envestnet Asset Management Inc. Sells 10,744 Shares of Jazz Pharmaceuticals PLC $JAZZ

Envestnet Asset Management Inc. lessened its stake in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 9.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 102,181 shares of the specialty pharmaceutical company’s stock after selling 10,744 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Jazz Pharmaceuticals worth $13,467,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in JAZZ. LSV Asset Management increased its position in shares of Jazz Pharmaceuticals by 3.6% during the second quarter. LSV Asset Management now owns 2,553,742 shares of the specialty pharmaceutical company’s stock worth $271,003,000 after acquiring an additional 87,576 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Jazz Pharmaceuticals by 11.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company’s stock valued at $198,159,000 after purchasing an additional 191,637 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Jazz Pharmaceuticals by 3.6% in the second quarter. JPMorgan Chase & Co. now owns 1,721,294 shares of the specialty pharmaceutical company’s stock valued at $182,664,000 after acquiring an additional 59,252 shares during the last quarter. Vestal Point Capital LP purchased a new position in Jazz Pharmaceuticals in the second quarter valued at approximately $127,344,000. Finally, Geode Capital Management LLC raised its stake in Jazz Pharmaceuticals by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,171,755 shares of the specialty pharmaceutical company’s stock valued at $124,366,000 after acquiring an additional 16,757 shares during the period. Institutional investors and hedge funds own 89.14% of the company’s stock.

Jazz Pharmaceuticals Stock Up 0.0%

JAZZ opened at $166.31 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.44 and a current ratio of 1.65. Jazz Pharmaceuticals PLC has a fifty-two week low of $95.49 and a fifty-two week high of $182.99. The firm’s fifty day moving average is $167.54 and its 200 day moving average is $147.79. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of -27.40, a price-to-earnings-growth ratio of 0.89 and a beta of 0.26.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JAZZ. Weiss Ratings restated a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a research report on Monday, December 29th. Bank of America upped their price objective on Jazz Pharmaceuticals from $230.00 to $247.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Truist Financial lifted their price target on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Wall Street Zen upgraded shares of Jazz Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Wells Fargo & Company upped their target price on shares of Jazz Pharmaceuticals from $170.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Fourteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.67.

Insider Buying and Selling at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Bruce C. Cozadd sold 77,500 shares of Jazz Pharmaceuticals stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $177.81, for a total value of $13,780,275.00. Following the completion of the transaction, the director directly owned 393,332 shares of the company’s stock, valued at $69,938,362.92. This trade represents a 16.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Mary Elizabeth Henderson sold 2,238 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $169.51, for a total transaction of $379,363.38. Following the completion of the sale, the senior vice president owned 19,508 shares in the company, valued at approximately $3,306,801.08. This trade represents a 10.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 87,813 shares of company stock worth $15,564,549. Company insiders own 4.30% of the company’s stock.

Jazz Pharmaceuticals Company Profile

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.