Vestal Point Capital LP Lowers Stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Vestal Point Capital LP lessened its position in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 40.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 900,000 shares of the specialty pharmaceutical company’s stock after selling 600,000 shares during the period. Jazz Pharmaceuticals accounts for 7.6% of Vestal Point Capital LP’s investment portfolio, making the stock its 2nd largest position. Vestal Point Capital LP owned about 1.49% of Jazz Pharmaceuticals worth $100,269,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in JAZZ. EverSource Wealth Advisors LLC grew its stake in Jazz Pharmaceuticals by 55.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 273 shares of the specialty pharmaceutical company’s stock valued at $30,000 after buying an additional 97 shares in the last quarter. GAMMA Investing LLC grew its holdings in Jazz Pharmaceuticals by 65.5% during the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the specialty pharmaceutical company’s stock valued at $31,000 after buying an additional 116 shares in the last quarter. Arizona State Retirement System increased its position in shares of Jazz Pharmaceuticals by 0.8% during the second quarter. Arizona State Retirement System now owns 16,580 shares of the specialty pharmaceutical company’s stock valued at $1,770,000 after buying an additional 130 shares during the period. Cardinal Capital Management boosted its position in shares of Jazz Pharmaceuticals by 1.9% in the second quarter. Cardinal Capital Management now owns 12,068 shares of the specialty pharmaceutical company’s stock valued at $1,288,000 after acquiring an additional 227 shares during the period. Finally, Waterfront Wealth Inc. grew its stake in Jazz Pharmaceuticals by 2.5% during the second quarter. Waterfront Wealth Inc. now owns 9,411 shares of the specialty pharmaceutical company’s stock valued at $1,004,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Neena M. Patil sold 3,700 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $123.41, for a total transaction of $456,617.00. Following the transaction, the executive vice president now owns 33,048 shares in the company, valued at $4,078,453.68. The trade was a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bruce C. Cozadd sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $110.84, for a total value of $110,840.00. Following the transaction, the chief executive officer now owns 428,976 shares in the company, valued at $47,547,699.84. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,110 shares of company stock valued at $720,160 in the last quarter. Insiders own 4.20% of the company’s stock.

Jazz Pharmaceuticals Stock Down 0.1 %

Shares of Jazz Pharmaceuticals stock opened at $122.64 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26. Jazz Pharmaceuticals plc has a 52-week low of $99.06 and a 52-week high of $134.17. The company’s 50 day moving average price is $114.66 and its 200-day moving average price is $111.07. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 1.03 and a beta of 0.57.

Wall Street Analyst Weigh In

Several research analysts have commented on JAZZ shares. HC Wainwright reissued a “buy” rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a report on Friday, November 22nd. Robert W. Baird lifted their price objective on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Piper Sandler restated an “overweight” rating and issued a $163.00 target price (down from $166.00) on shares of Jazz Pharmaceuticals in a research note on Thursday, November 21st. Needham & Company LLC reiterated a “buy” rating and set a $207.00 price target on shares of Jazz Pharmaceuticals in a research report on Thursday, November 21st. Finally, TD Cowen decreased their price objective on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.33.

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.