ARGA Investment Management LP Reduces Stake in Jazz Pharmaceuticals PLC $JAZZ

ARGA Investment Management LP lessened its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 48.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,172 shares of the specialty pharmaceutical company’s stock after selling 4,856 shares during the quarter. ARGA Investment Management LP’s holdings in Jazz Pharmaceuticals were worth $682,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in Jazz Pharmaceuticals by 96.5% in the first quarter. Royal Bank of Canada now owns 67,614 shares of the specialty pharmaceutical company’s stock worth $8,394,000 after acquiring an additional 33,210 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Jazz Pharmaceuticals by 147.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company’s stock valued at $43,652,000 after purchasing an additional 209,667 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Jazz Pharmaceuticals by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,174 shares of the specialty pharmaceutical company’s stock worth $24,479,000 after purchasing an additional 7,954 shares during the period. Focus Partners Wealth lifted its holdings in Jazz Pharmaceuticals by 3.4% during the first quarter. Focus Partners Wealth now owns 4,623 shares of the specialty pharmaceutical company’s stock worth $574,000 after buying an additional 154 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in 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 acquiring an additional 137 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Stock Performance

Shares of NASDAQ JAZZ opened at $168.71 on Friday. The company has a 50 day simple moving average of $170.14 and a two-hundred day simple moving average of $141.62. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of -27.79, a PEG ratio of 0.93 and a beta of 0.27. The company has a current ratio of 1.65, a quick ratio of 1.44 and a debt-to-equity ratio of 1.09. Jazz Pharmaceuticals PLC has a 12 month low of $95.49 and a 12 month high of $182.99.

Insiders Place Their Bets

In other news, CAO Patricia Carr sold 5,319 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $182.06, for a total value of $968,377.14. Following the sale, the chief accounting officer owned 7,012 shares in the company, valued at $1,276,604.72. This represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rick E. Winningham sold 5,500 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $180.86, for a total value of $994,730.00. Following the transaction, the director owned 8,893 shares of the company’s stock, valued at approximately $1,608,387.98. This represents a 38.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 123,791 shares of company stock worth $21,991,850. 4.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on JAZZ shares. UBS Group reiterated a “neutral” rating and issued a $188.00 target price (up from $163.00) on shares of Jazz Pharmaceuticals in a report on Monday, November 24th. JPMorgan Chase & Co. dropped their target price on Jazz Pharmaceuticals from $204.00 to $199.00 and set an “overweight” rating on the stock in a research note on Monday, October 27th. Robert W. Baird raised their price target on Jazz Pharmaceuticals from $160.00 to $209.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Bank of America increased their price objective on shares of Jazz Pharmaceuticals from $230.00 to $247.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Finally, Truist Financial boosted their target price on shares of Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Thirteen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.67.

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.