State of New Jersey Common Pension Fund D Cuts Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

State of New Jersey Common Pension Fund D decreased its holdings in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 25.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 25,145 shares of the specialty pharmaceutical company’s stock after selling 8,776 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Jazz Pharmaceuticals were worth $2,684,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Jazz Pharmaceuticals by 1.3% in the first quarter. Vanguard Group Inc. now owns 6,448,689 shares of the specialty pharmaceutical company’s stock valued at $776,551,000 after buying an additional 84,941 shares during the period. LSV Asset Management raised its stake in shares of Jazz Pharmaceuticals by 4.2% during the second quarter. LSV Asset Management now owns 2,480,563 shares of the specialty pharmaceutical company’s stock valued at $264,750,000 after purchasing an additional 99,705 shares during the period. Capital World Investors purchased a new stake in shares of Jazz Pharmaceuticals during the first quarter valued at approximately $171,943,000. Swedbank AB purchased a new stake in shares of Jazz Pharmaceuticals during the second quarter valued at approximately $106,936,000. Finally, Vestal Point Capital LP purchased a new stake in shares of Jazz Pharmaceuticals during the fourth quarter valued at approximately $89,175,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Insider Activity

In other news, SVP Mary Elizabeth Henderson sold 1,410 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $108.30, for a total transaction of $152,703.00. Following the completion of the transaction, the senior vice president now owns 14,531 shares of the company’s stock, valued at $1,573,707.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Jazz Pharmaceuticals Stock Performance

Jazz Pharmaceuticals stock opened at $109.57 on Thursday. The company has a market cap of $6.91 billion, a PE ratio of 22.59, a P/E/G ratio of 1.31 and a beta of 0.57. The company has a fifty day moving average price of $110.58 and a two-hundred day moving average price of $111.14. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.37 and a quick ratio of 2.02. Jazz Pharmaceuticals plc has a 12 month low of $99.06 and a 12 month high of $137.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings results on Wednesday, July 31st. The specialty pharmaceutical company reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.87. Jazz Pharmaceuticals had a net margin of 10.10% and a return on equity of 28.65%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Research analysts expect that Jazz Pharmaceuticals plc will post 16.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on JAZZ. Needham & Company LLC reiterated a “buy” rating and set a $205.00 price objective on shares of Jazz Pharmaceuticals in a research note on Tuesday, September 10th. Piper Sandler dropped their price objective on shares of Jazz Pharmaceuticals from $188.00 to $166.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. The Goldman Sachs Group began coverage on shares of Jazz Pharmaceuticals in a research note on Wednesday, June 5th. They set a “buy” rating and a $169.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $140.00 price objective on shares of Jazz Pharmaceuticals in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Jazz Pharmaceuticals from $190.00 to $202.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Jazz Pharmaceuticals Company 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.