Commonwealth Equity Services LLC Cuts Stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Commonwealth Equity Services LLC lowered its stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,884 shares of the specialty pharmaceutical company’s stock after selling 784 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Jazz Pharmaceuticals were worth $1,587,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in JAZZ. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Jazz Pharmaceuticals by 501.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,055 shares of the specialty pharmaceutical company’s stock worth $13,800,000 after purchasing an additional 93,422 shares during the last quarter. Avantax Advisory Services Inc. purchased a new stake in Jazz Pharmaceuticals in the fourth quarter worth $264,000. Great Lakes Advisors LLC bought a new stake in shares of Jazz Pharmaceuticals in the fourth quarter valued at $4,488,000. EverSource Wealth Advisors LLC lifted its position in shares of Jazz Pharmaceuticals by 96.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 620 shares of the specialty pharmaceutical company’s stock valued at $76,000 after buying an additional 305 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Jazz Pharmaceuticals by 27.0% during the 4th quarter. HighTower Advisors LLC now owns 9,648 shares of the specialty pharmaceutical company’s stock worth $1,188,000 after acquiring an additional 2,054 shares during the period. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Insider Buying and Selling

In related news, CAO Patricia Carr sold 1,140 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $137.81, for a total value of $157,103.40. Following the completion of the transaction, the chief accounting officer now directly owns 7,012 shares in the company, valued at approximately $966,323.72. The trade was a 13.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Neena M. Patil sold 3,800 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $144.87, for a total value of $550,506.00. Following the completion of the transaction, the executive vice president now directly owns 33,318 shares in the company, valued at approximately $4,826,778.66. This represents a 10.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,736 shares of company stock worth $4,022,825. Insiders own 4.20% of the company’s stock.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ opened at $122.92 on Friday. The firm has a market capitalization of $7.47 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.04 and a beta of 0.44. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. The stock’s 50-day simple moving average is $132.30 and its two-hundred day simple moving average is $122.54. Jazz Pharmaceuticals plc has a twelve month low of $99.06 and a twelve month high of $148.06.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JAZZ. Truist Financial boosted their price objective on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Piper Sandler reissued an “overweight” rating and issued a $176.00 price target (up previously from $163.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, February 26th. Barclays reaffirmed an “overweight” rating and issued a $200.00 price objective (up from $190.00) on shares of Jazz Pharmaceuticals in a report on Thursday, February 27th. UBS Group raised shares of Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $179.00 in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price target on Jazz Pharmaceuticals from $200.00 to $209.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $187.71.

Jazz Pharmaceuticals Profile

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.