Ameriprise Financial Inc. Cuts Stock Holdings in Jazz Pharmaceuticals PLC $JAZZ

Ameriprise Financial Inc. trimmed its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 1.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,847,455 shares of the specialty pharmaceutical company’s stock after selling 19,944 shares during the period. Ameriprise Financial Inc. owned approximately 3.04% of Jazz Pharmaceuticals worth $243,495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC raised its position in Jazz Pharmaceuticals by 754.8% during the third quarter. Farther Finance Advisors LLC now owns 265 shares of the specialty pharmaceutical company’s stock valued at $35,000 after purchasing an additional 234 shares in the last quarter. Quent Capital LLC purchased a new position in shares of Jazz Pharmaceuticals in the 3rd quarter worth about $44,000. Geneos Wealth Management Inc. increased its position in shares of Jazz Pharmaceuticals by 57.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock valued at $47,000 after purchasing an additional 137 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Jazz Pharmaceuticals by 30.7% during the 3rd quarter. GAMMA Investing LLC now owns 655 shares of the specialty pharmaceutical company’s stock valued at $86,000 after buying an additional 154 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Jazz Pharmaceuticals during the 1st quarter valued at about $90,000. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Trading Up 1.9%

Shares of JAZZ stock opened at $182.02 on Tuesday. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 1.00. Jazz Pharmaceuticals PLC has a 12-month low of $95.49 and a 12-month high of $198.00. The stock has a market capitalization of $11.21 billion, a P/E ratio of -30.49, a P/E/G ratio of 0.32 and a beta of 0.22. The firm’s 50 day moving average is $172.48 and its 200 day moving average is $156.82.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its earnings results on Tuesday, February 24th. The specialty pharmaceutical company reported $6.64 EPS for the quarter, beating analysts’ consensus estimates of $6.49 by $0.15. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $6.51 earnings per share. Research analysts expect that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Neena M. Patil sold 55,600 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $191.56, for a total transaction of $10,650,736.00. Following the completion of the transaction, the executive vice president directly owned 56,862 shares in the company, valued at approximately $10,892,484.72. The trade was a 49.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mary Elizabeth Henderson sold 5,343 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $194.49, for a total transaction of $1,039,160.07. Following the completion of the sale, the senior vice president directly owned 28,728 shares of the company’s stock, valued at $5,587,308.72. This represents a 15.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,015 shares of company stock valued at $13,037,486 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

JAZZ has been the subject of several research reports. Bank of America upped their target price on Jazz Pharmaceuticals from $263.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Barclays restated an “overweight” rating and issued a $224.00 price objective on shares of Jazz Pharmaceuticals in a report on Monday, March 9th. TD Cowen reaffirmed a “buy” rating on shares of Jazz Pharmaceuticals in a research note on Thursday, January 29th. Wells Fargo & Company raised their target price on shares of Jazz Pharmaceuticals from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Finally, Truist Financial raised their target price on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $214.38.

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.