Meritage Portfolio Management Reduces Stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Meritage Portfolio Management lessened its holdings in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 17.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,274 shares of the specialty pharmaceutical company’s stock after selling 14,333 shares during the period. Meritage Portfolio Management owned 0.11% of Jazz Pharmaceuticals worth $8,162,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of JAZZ. Creative Planning grew its position in Jazz Pharmaceuticals by 21.7% in the second quarter. Creative Planning now owns 3,819 shares of the specialty pharmaceutical company’s stock worth $408,000 after acquiring an additional 680 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Jazz Pharmaceuticals in the 2nd quarter worth approximately $213,000. SG Americas Securities LLC bought a new stake in Jazz Pharmaceuticals in the third quarter valued at $752,000. GAMMA Investing LLC increased its position in shares of Jazz Pharmaceuticals by 41.3% during the third quarter. GAMMA Investing LLC now owns 414 shares of the specialty pharmaceutical company’s stock valued at $46,000 after buying an additional 121 shares during the period. Finally, Wedmont Private Capital raised its position in shares of Jazz Pharmaceuticals by 11.4% in the 3rd quarter. Wedmont Private Capital now owns 4,972 shares of the specialty pharmaceutical company’s stock worth $540,000 after acquiring an additional 507 shares in the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on JAZZ shares. Morgan Stanley raised shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $175.00 in a research report on Thursday, December 12th. Piper Sandler reissued an “overweight” rating and issued a $163.00 target price on shares of Jazz Pharmaceuticals in a research report on Thursday, December 12th. HC Wainwright restated a “buy” rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a research note on Friday, November 22nd. Robert W. Baird boosted their target price on shares of Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $207.00 price target on shares of Jazz Pharmaceuticals in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Insider Activity at Jazz Pharmaceuticals

In other news, CEO Bruce C. Cozadd sold 1,500 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $123.43, for a total transaction of $185,145.00. Following the completion of the sale, the chief executive officer now directly owns 425,525 shares of the company’s stock, valued at approximately $52,522,550.75. The trade was a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neena M. Patil sold 3,700 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $123.41, for a total transaction of $456,617.00. Following the completion of the transaction, the executive vice president now owns 33,048 shares in the company, valued at $4,078,453.68. This represents a 10.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,253 shares of company stock valued at $890,594 over the last 90 days. 4.20% of the stock is owned by corporate insiders.

Jazz Pharmaceuticals Stock Performance

NASDAQ:JAZZ opened at $121.63 on Wednesday. The stock’s 50 day simple moving average is $122.62 and its two-hundred day simple moving average is $116.28. Jazz Pharmaceuticals plc has a 1 year low of $99.06 and a 1 year high of $134.17. 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 company has a market cap of $7.35 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 0.90 and a beta of 0.56.

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.