Jazz Pharmaceuticals PLC $JAZZ Stock Position Reduced by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 188,878 shares of the specialty pharmaceutical company’s stock after selling 22,307 shares during the quarter. Wedge Capital Management L L P NC owned 0.31% of Jazz Pharmaceuticals worth $32,109,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in shares of Jazz Pharmaceuticals by 754.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 265 shares of the specialty pharmaceutical company’s stock worth $35,000 after buying an additional 234 shares during the last quarter. Hilltop National Bank bought a new position in Jazz Pharmaceuticals in the fourth quarter worth about $36,000. Danske Bank A S acquired a new position in Jazz Pharmaceuticals in the third quarter valued at approximately $40,000. Quent Capital LLC bought a new position in shares of Jazz Pharmaceuticals during the third quarter valued at approximately $44,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Jazz Pharmaceuticals by 57.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 89.14% of the company’s stock.

Wall Street Analysts Forecast Growth

JAZZ has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on Jazz Pharmaceuticals from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Truist Financial raised shares of Jazz Pharmaceuticals to a “strong-buy” rating in a report on Wednesday. Needham & Company LLC lifted their price objective 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 reaffirmed a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a report on Monday, December 29th. Finally, TD Cowen reissued a “buy” rating on shares of Jazz Pharmaceuticals in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.38.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ opened at $182.69 on Friday. Jazz Pharmaceuticals PLC has a 12-month low of $95.49 and a 12-month high of $198.00. The stock has a market capitalization of $11.25 billion, a P/E ratio of -30.60, a P/E/G ratio of 0.34 and a beta of 0.22. The firm’s 50 day moving average is $175.63 and its 200-day moving average is $159.83. 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 earnings results 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 business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Jazz Pharmaceuticals had a positive return on equity of 6.87% and a negative net margin of 8.35%.The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $6.51 EPS. Equities research analysts anticipate that Jazz Pharmaceuticals PLC will post 16.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 55,600 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $191.56, for a total value of $10,650,736.00. Following the completion of the sale, the executive vice president owned 56,862 shares in the company, valued at $10,892,484.72. This represents a 49.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Patricia Carr sold 1,287 shares of Jazz Pharmaceuticals stock in a transaction on Monday, March 9th. The shares were sold at an average price of $182.94, for a total transaction of $235,443.78. Following the sale, the chief accounting officer directly owned 6,512 shares of the company’s stock, valued at $1,191,305.28. This trade represents a 16.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 68,015 shares of company stock valued at $13,037,486. 4.30% of the stock is owned by insiders.

Jazz Pharmaceuticals Profile

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.