American Century Companies Inc. Sells 36,599 Shares of Jazz Pharmaceuticals PLC $JAZZ

American Century Companies Inc. decreased its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,431 shares of the specialty pharmaceutical company’s stock after selling 36,599 shares during the period. American Century Companies Inc. owned about 0.36% of Jazz Pharmaceuticals worth $28,526,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in JAZZ. Kennedy Capital Management LLC bought a new position in shares of Jazz Pharmaceuticals in the 2nd quarter valued at $1,100,000. Essex Investment Management Co. LLC acquired a new stake in shares of Jazz Pharmaceuticals during the 3rd quarter valued at $2,697,000. Wedge Capital Management L L P NC bought a new stake in Jazz Pharmaceuticals during the 3rd quarter worth $27,834,000. Sequoia Financial Advisors LLC bought a new stake in Jazz Pharmaceuticals during the 3rd quarter worth $605,000. Finally, JPMorgan Chase & Co. increased its holdings in Jazz Pharmaceuticals by 8.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,867,159 shares of the specialty pharmaceutical company’s stock worth $246,092,000 after purchasing an additional 145,865 shares in the last quarter. Institutional investors and hedge funds own 89.14% of the company’s stock.

Analyst Upgrades and Downgrades

JAZZ has been the subject of several research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a research report on Monday, December 29th. Morgan Stanley boosted their price target on Jazz Pharmaceuticals from $225.00 to $226.00 and gave the stock an “overweight” rating in a report on Wednesday, February 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $219.00 price objective (up from $147.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, December 10th. Robert W. Baird raised their price objective on shares of Jazz Pharmaceuticals from $160.00 to $209.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Finally, Royal Bank Of Canada lifted their target price on shares of Jazz Pharmaceuticals from $191.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Fourteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $214.57.

Jazz Pharmaceuticals Stock Down 0.9%

Shares of JAZZ opened at $182.01 on Monday. The stock’s 50-day moving average price is $171.11 and its two-hundred day moving average price is $154.32. Jazz Pharmaceuticals PLC has a 12 month low of $95.49 and a 12 month high of $198.00. The company has a market capitalization of $11.20 billion, a PE ratio of -30.49, a PEG ratio of 0.33 and a beta of 0.22. 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 (NASDAQ:JAZZ) last issued its quarterly earnings results on Tuesday, February 24th. The specialty pharmaceutical company reported $6.64 earnings per share 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 analysts’ expectations of $1.17 billion. Jazz Pharmaceuticals had a positive return on equity of 6.87% and a negative net margin of 8.35%.The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.51 earnings per share. On average, analysts anticipate that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current year.

Insider Activity

In other news, SVP Mary Elizabeth Henderson sold 5,343 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $194.49, for a total value of $1,039,160.07. Following the sale, the senior vice president directly owned 28,728 shares of the company’s stock, valued at approximately $5,587,308.72. This represents a 15.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Neena M. Patil sold 55,600 shares of the stock in a transaction 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 sale, the executive vice president owned 56,862 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders sold 68,966 shares of company stock worth $13,181,406. 4.30% of the stock is owned by company insiders.

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.