Sumitomo Mitsui Trust Group Inc. Makes New Investment in Jazz Pharmaceuticals PLC $JAZZ

Sumitomo Mitsui Trust Group Inc. purchased a new position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,600 shares of the specialty pharmaceutical company’s stock, valued at approximately $612,000.

A number of other large investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its stake in shares of Jazz Pharmaceuticals by 9.0% in the third quarter. EverSource Wealth Advisors LLC now owns 983 shares of the specialty pharmaceutical company’s stock worth $130,000 after acquiring an additional 81 shares during the period. Tectonic Advisors LLC grew its stake in shares of Jazz Pharmaceuticals by 1.5% in the third quarter. Tectonic Advisors LLC now owns 5,626 shares of the specialty pharmaceutical company’s stock worth $742,000 after acquiring an additional 82 shares during the period. Fairbanks Capital Management Inc. grew its stake in shares of Jazz Pharmaceuticals by 0.4% in the third quarter. Fairbanks Capital Management Inc. now owns 25,023 shares of the specialty pharmaceutical company’s stock worth $3,298,000 after acquiring an additional 94 shares during the period. Blair William & Co. IL grew its stake in shares of Jazz Pharmaceuticals by 5.0% in the third quarter. Blair William & Co. IL now owns 2,107 shares of the specialty pharmaceutical company’s stock worth $278,000 after acquiring an additional 101 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Jazz Pharmaceuticals by 3.5% in the third quarter. Blue Trust Inc. now owns 3,261 shares of the specialty pharmaceutical company’s stock worth $430,000 after acquiring an additional 109 shares during the period. 89.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barclays reiterated an “overweight” rating and issued a $224.00 price target on shares of Jazz Pharmaceuticals in a research note on Monday, March 9th. Raymond James Financial assumed coverage on shares of Jazz Pharmaceuticals in a research note on Friday, April 10th. They issued an “outperform” rating and a $227.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Jazz Pharmaceuticals from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Bank of America lifted their price target on shares of Jazz Pharmaceuticals from $263.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada lifted their price target on shares of Jazz Pharmaceuticals from $191.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $216.21.

Insider Activity at Jazz Pharmaceuticals

In related news, Director Norbert G. Riedel sold 3,415 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $192.00, for a total transaction of $655,680.00. Following the completion of the sale, the director directly owned 7,024 shares in the company, valued at approximately $1,348,608. The trade was a 32.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Neena M. Patil sold 55,600 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $191.56, for a total transaction of $10,650,736.00. Following the sale, the executive vice president owned 56,862 shares of the company’s stock, valued at $10,892,484.72. This trade represents a 49.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 74,015 shares of company stock valued at $14,180,486 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Jazz Pharmaceuticals Stock Performance

Shares of NASDAQ JAZZ opened at $203.42 on Monday. The firm has a 50 day moving average of $183.52 and a 200 day moving average of $167.05. The company has a current ratio of 1.86, a quick ratio of 1.67 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of -34.07, a price-to-earnings-growth ratio of 0.35 and a beta of 0.23. Jazz Pharmaceuticals PLC has a 12-month low of $97.50 and a 12-month high of $204.13.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its earnings results on Wednesday, February 25th. The specialty pharmaceutical company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.49 by $0.15. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $6.51 earnings per share. On average, research analysts anticipate that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current year.

Jazz Pharmaceuticals 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.