Arizona State Retirement System Lowers Holdings in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Arizona State Retirement System trimmed its stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,009 shares of the specialty pharmaceutical company’s stock after selling 242 shares during the period. Arizona State Retirement System’s holdings in Jazz Pharmaceuticals were worth $2,095,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Proficio Capital Partners LLC acquired a new stake in shares of Jazz Pharmaceuticals during the 4th quarter worth approximately $4,762,000. M&T Bank Corp boosted its holdings in Jazz Pharmaceuticals by 6.9% during the fourth quarter. M&T Bank Corp now owns 3,835 shares of the specialty pharmaceutical company’s stock worth $473,000 after buying an additional 246 shares in the last quarter. Atria Investments Inc grew its position in Jazz Pharmaceuticals by 19.5% during the fourth quarter. Atria Investments Inc now owns 2,732 shares of the specialty pharmaceutical company’s stock valued at $336,000 after buying an additional 445 shares during the period. Victory Capital Management Inc. increased its holdings in Jazz Pharmaceuticals by 3.7% in the fourth quarter. Victory Capital Management Inc. now owns 262,689 shares of the specialty pharmaceutical company’s stock valued at $32,350,000 after buying an additional 9,390 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Jazz Pharmaceuticals by 15.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 615,517 shares of the specialty pharmaceutical company’s stock worth $75,801,000 after acquiring an additional 83,807 shares during the period. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JAZZ. Piper Sandler restated an “overweight” rating and set a $176.00 target price (up from $163.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, February 26th. Wells Fargo & Company raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $130.00 to $170.00 in a report on Thursday, February 13th. Barclays reaffirmed an “overweight” rating and set a $200.00 target price (up from $190.00) on shares of Jazz Pharmaceuticals in a research note on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $210.00 price target on shares of Jazz Pharmaceuticals in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Jazz Pharmaceuticals from $200.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $190.53.

Insiders Place Their Bets

In other news, EVP Neena M. Patil sold 3,800 shares of Jazz Pharmaceuticals stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $144.87, for a total transaction of $550,506.00. Following the transaction, the executive vice president now owns 33,318 shares in the company, valued at $4,826,778.66. The trade was a 10.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Robert Iannone sold 7,080 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $138.60, for a total transaction of $981,288.00. Following the completion of the sale, the chief marketing officer now directly owns 82,024 shares of the company’s stock, valued at $11,368,526.40. This represents a 7.95 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,193 shares of company stock valued at $3,533,122. Insiders own 4.20% of the company’s stock.

Jazz Pharmaceuticals Trading Down 1.0 %

Shares of Jazz Pharmaceuticals stock opened at $137.45 on Tuesday. Jazz Pharmaceuticals plc has a 1-year low of $99.06 and a 1-year high of $148.06. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74. The stock has a market cap of $8.35 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.04 and a beta of 0.44. The stock’s 50 day simple moving average is $128.43 and its 200-day simple moving average is $120.23.

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.