BTC Capital Management Inc. Has $8.09 Million Stock Holdings in Jazz Pharmaceuticals PLC $JAZZ

BTC Capital Management Inc. trimmed its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 8.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,548 shares of the specialty pharmaceutical company’s stock after selling 4,173 shares during the period. BTC Capital Management Inc. owned approximately 0.08% of Jazz Pharmaceuticals worth $8,091,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in JAZZ. Dimensional Fund Advisors LP grew its stake in Jazz Pharmaceuticals by 11.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,836,652 shares of the specialty pharmaceutical company’s stock valued at $373,855,000 after acquiring an additional 298,815 shares during the period. Capital World Investors lifted its holdings in shares of Jazz Pharmaceuticals by 0.4% in the 3rd quarter. Capital World Investors now owns 2,554,867 shares of the specialty pharmaceutical company’s stock worth $336,731,000 after purchasing an additional 10,345 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Jazz Pharmaceuticals by 11.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,867,399 shares of the specialty pharmaceutical company’s stock worth $198,159,000 after purchasing an additional 191,637 shares in the last quarter. JPMorgan Chase & Co. grew its position 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 valued at $246,092,000 after purchasing an additional 145,865 shares during the period. Finally, Vestal Point Capital LP acquired a new stake in Jazz Pharmaceuticals in the 2nd quarter valued at $127,344,000. 89.14% of the stock is owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ:JAZZ opened at $189.05 on Wednesday. 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 stock has a market cap of $11.64 billion, a PE ratio of -31.67, a price-to-earnings-growth ratio of 0.33 and a beta of 0.22. The stock’s fifty day simple moving average is $176.33 and its two-hundred day simple moving average is $161.11. Jazz Pharmaceuticals PLC has a 1-year low of $95.49 and a 1-year high of $198.00.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its earnings results on Wednesday, February 25th. The specialty pharmaceutical company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.49 by $0.15. The firm 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 business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.51 EPS. As a group, analysts forecast that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on JAZZ shares. Piper Sandler boosted their price target on shares of Jazz Pharmaceuticals from $219.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Barclays reaffirmed an “overweight” rating and issued a $224.00 price objective on shares of Jazz Pharmaceuticals in a research note on Monday, March 9th. Bank of America boosted their target price on shares of Jazz Pharmaceuticals from $263.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada upped their target price on shares of Jazz Pharmaceuticals from $191.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Jazz Pharmaceuticals in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.38.

Insider Activity

In other Jazz Pharmaceuticals news, Director Norbert G. Riedel sold 3,415 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $192.00, for a total value of $655,680.00. Following the completion of the sale, the director owned 7,024 shares in the company, valued at approximately $1,348,608. This trade represents a 32.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Neena M. Patil sold 55,600 shares of Jazz Pharmaceuticals 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 transaction, the executive vice president directly owned 56,862 shares in the company, valued at approximately $10,892,484.72. This represents a 49.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 68,015 shares of company stock valued at $13,037,486 in the last three months. 4.30% of the stock is owned by company insiders.

About Jazz Pharmaceuticals

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.