BTC Capital Management Inc. Sells 3,814 Shares of Jazz Pharmaceuticals PLC $JAZZ

BTC Capital Management Inc. lowered its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 8.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,734 shares of the specialty pharmaceutical company’s stock after selling 3,814 shares during the period. BTC Capital Management Inc. owned approximately 0.07% of Jazz Pharmaceuticals worth $8,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Hilltop National Bank purchased a new stake in shares of Jazz Pharmaceuticals in the fourth quarter worth approximately $36,000. LRI Investments LLC purchased a new position in Jazz Pharmaceuticals during the 4th quarter valued at $38,000. Leonteq Securities AG purchased a new position in Jazz Pharmaceuticals during the 4th quarter valued at $50,000. GoalVest Advisory LLC bought a new position in Jazz Pharmaceuticals in the 4th quarter valued at $51,000. Finally, Danske Bank A S bought a new position in Jazz Pharmaceuticals in the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on JAZZ shares. Truist Financial set a $256.00 target price on Jazz Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Royal Bank Of Canada upped their price target on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $245.00 price target on shares of Jazz Pharmaceuticals in a research note on Thursday, May 7th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Jazz Pharmaceuticals in a research note on Tuesday, June 9th. Finally, Piper Sandler lifted their price objective on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Sixteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $246.06.

Jazz Pharmaceuticals Trading Down 0.2%

Shares of NASDAQ JAZZ opened at $229.85 on Thursday. The company has a quick ratio of 1.85, a current ratio of 2.04 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $223.30 and a two-hundred day simple moving average of $191.97. The firm has a market cap of $14.44 billion, a PE ratio of -11,486.76, a price-to-earnings-growth ratio of 0.20 and a beta of 0.32. Jazz Pharmaceuticals PLC has a twelve month low of $105.00 and a twelve month high of $243.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share (EPS) for the quarter. The business had revenue of $1.07 billion for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%. Analysts expect that Jazz Pharmaceuticals PLC will post 22.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Douglas Smith sold 1,157 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $230.55, for a total value of $266,746.35. Following the completion of the sale, the director directly owned 9,680 shares of the company’s stock, valued at $2,231,724. This represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heather Ann Mcsharry sold 2,000 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $241.00, for a total transaction of $482,000.00. Following the transaction, the director owned 18,449 shares in the company, valued at approximately $4,446,209. The trade was a 9.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,098 shares of company stock valued at $2,832,086 over the last quarter. 4.10% 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.