Retirement Systems of Alabama Cuts Stock Position in Jazz Pharmaceuticals PLC $JAZZ

Retirement Systems of Alabama cut its position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,698 shares of the specialty pharmaceutical company’s stock after selling 20,703 shares during the quarter. Retirement Systems of Alabama owned approximately 0.28% of Jazz Pharmaceuticals worth $28,509,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Hilltop National Bank bought a new stake in Jazz Pharmaceuticals in the 4th quarter worth approximately $36,000. Farther Finance Advisors LLC grew its position in Jazz Pharmaceuticals by 754.8% during the third quarter. Farther Finance Advisors LLC now owns 265 shares of the specialty pharmaceutical company’s stock valued at $35,000 after acquiring an additional 234 shares during the last quarter. GoalVest Advisory LLC purchased a new position in shares of Jazz Pharmaceuticals during the fourth quarter worth approximately $51,000. Danske Bank A S purchased a new position in shares of Jazz Pharmaceuticals during the third quarter worth approximately $40,000. Finally, Quent Capital LLC bought a new stake in shares of Jazz Pharmaceuticals in the 3rd quarter worth approximately $44,000. 89.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 1,287 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $182.94, for a total value of $235,443.78. Following the completion of the sale, the chief accounting officer owned 6,512 shares in the company, valued at approximately $1,191,305.28. This trade represents a 16.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Norbert G. Riedel sold 3,415 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $192.00, for a total value of $655,680.00. Following the completion of the sale, the director owned 7,024 shares in the company, valued at approximately $1,348,608. This represents a 32.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,015 shares of company stock valued at $13,037,486 over the last three months. Company insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

JAZZ has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on shares of Jazz Pharmaceuticals from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Barclays reissued an “overweight” rating and issued a $224.00 price target on shares of Jazz Pharmaceuticals in a research note on Monday, March 9th. Piper Sandler upped their price target on shares of Jazz Pharmaceuticals from $219.00 to $232.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. TD Cowen reaffirmed a “buy” rating on shares of Jazz Pharmaceuticals in a research note on Thursday, January 29th. Finally, Truist Financial upgraded Jazz Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Jazz Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $215.38.

Jazz Pharmaceuticals Trading Up 3.2%

NASDAQ:JAZZ opened at $189.05 on Wednesday. The company has a fifty day moving average of $176.33 and a 200 day moving average of $161.11. Jazz Pharmaceuticals PLC has a 52 week low of $95.49 and a 52 week high of $198.00. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $11.64 billion, a P/E ratio of -31.67, a P/E/G ratio of 0.33 and a beta of 0.22.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly 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. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm earned $6.51 EPS. The company’s revenue was up 8.1% on a year-over-year basis. On average, research analysts predict that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current year.

Jazz Pharmaceuticals Company 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.