BTC Capital Management Inc. Cuts Stock Position in Jazz Pharmaceuticals PLC $JAZZ

BTC Capital Management Inc. lessened its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 8.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,548 shares of the specialty pharmaceutical company’s stock after selling 4,173 shares during the quarter. BTC Capital Management Inc.’s holdings in Jazz Pharmaceuticals were worth $8,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Royal Bank of Canada raised its stake in shares of 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 valued at $8,394,000 after buying an additional 33,210 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Jazz Pharmaceuticals by 147.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company’s stock worth $43,652,000 after acquiring an additional 209,667 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Jazz Pharmaceuticals by 4.2% during 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 acquiring an additional 7,954 shares during the period. Focus Partners Wealth increased its holdings in Jazz Pharmaceuticals by 3.4% in the 1st quarter. Focus Partners Wealth now owns 4,623 shares of the specialty pharmaceutical company’s stock worth $574,000 after acquiring an additional 154 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in Jazz Pharmaceuticals by 57.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after acquiring an additional 137 shares during the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Stock Up 3.2%

JAZZ opened at $189.05 on Wednesday. The firm has a market capitalization of $11.64 billion, a P/E ratio of -31.67, a price-to-earnings-growth ratio of 0.33 and a beta of 0.22. Jazz Pharmaceuticals PLC has a one year low of $95.49 and a one year high of $198.00. The company has a fifty day moving average price of $176.33 and a 200-day moving average price of $161.11. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.86 and a quick ratio of 1.67.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings data on Wednesday, February 25th. The specialty pharmaceutical company reported $6.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.49 by $0.15. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. Jazz Pharmaceuticals had a positive return on equity of 6.87% and a negative net margin of 8.35%.The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $6.51 earnings per share. Equities research analysts expect that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Norbert G. Riedel sold 3,415 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $192.00, for a total transaction of $655,680.00. Following the completion of the transaction, the director owned 7,024 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mary Elizabeth Henderson sold 5,343 shares of the company’s 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 transaction, the senior vice president owned 28,728 shares in the company, valued at approximately $5,587,308.72. This trade represents a 15.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 68,015 shares of company stock valued at $13,037,486 over the last 90 days. 4.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on JAZZ shares. Barclays reaffirmed an “overweight” rating and set a $224.00 price objective on shares of Jazz Pharmaceuticals in a report on Monday, March 9th. Piper Sandler lifted their target price on shares of Jazz Pharmaceuticals from $219.00 to $232.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Needham & Company LLC boosted their price target on shares of Jazz Pharmaceuticals from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a research note on Friday. Finally, Royal Bank Of Canada raised their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.38.

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.