Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,720 shares of the specialty pharmaceutical company’s stock after selling 13,495 shares during the period. Pictet Asset Management Holding SA’s holdings in Jazz Pharmaceuticals were worth $26,073,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cinctive Capital Management LP purchased a new position in shares of Jazz Pharmaceuticals during the 3rd quarter worth approximately $14,277,000. Pacer Advisors Inc. raised its position in Jazz Pharmaceuticals by 5.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,214,480 shares of the specialty pharmaceutical company’s stock worth $272,713,000 after acquiring an additional 115,102 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Jazz Pharmaceuticals by 135.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,078 shares of the specialty pharmaceutical company’s stock valued at $19,394,000 after acquiring an additional 100,112 shares during the period. GW&K Investment Management LLC boosted its position in shares of Jazz Pharmaceuticals by 26.6% during the 4th quarter. GW&K Investment Management LLC now owns 464,003 shares of the specialty pharmaceutical company’s stock worth $57,142,000 after purchasing an additional 97,589 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew 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 period. Institutional investors and hedge funds own 89.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on JAZZ. HC Wainwright boosted their price target on Jazz Pharmaceuticals from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Barclays reissued an “overweight” rating and issued a $200.00 target price (up previously from $190.00) on shares of Jazz Pharmaceuticals in a report on Thursday, February 27th. Wells Fargo & Company raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $130.00 to $170.00 in a research note on Thursday, February 13th. Truist Financial increased their price objective on shares of Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $183.00 target price (up previously from $175.00) on shares of Jazz Pharmaceuticals in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Jazz Pharmaceuticals has an average rating of “Buy” and a consensus target price of $187.71.

Jazz Pharmaceuticals Stock Up 1.0 %

Shares of NASDAQ:JAZZ opened at $124.15 on Tuesday. The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.04 and a beta of 0.44. The company has a 50 day moving average of $132.36 and a two-hundred day moving average of $122.78. Jazz Pharmaceuticals plc has a 52-week low of $99.06 and a 52-week high of $148.06. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46.

Insider Activity

In other Jazz Pharmaceuticals news, CEO Bruce C. Cozadd sold 1,500 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.31, for a total value of $183,465.00. Following the completion of the transaction, the chief executive officer now directly owns 439,744 shares of the company’s stock, valued at $53,785,088.64. This represents a 0.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Patricia Carr sold 1,140 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $137.81, for a total value of $157,103.40. Following the sale, the chief accounting officer now owns 7,012 shares of the company’s stock, valued at $966,323.72. This represents a 13.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,736 shares of company stock worth $4,022,825. 4.20% of the stock is currently owned by company insiders.

About Jazz Pharmaceuticals

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.