Bank of New York Mellon Corp boosted its holdings in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ – Free Report) by 160.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,161,857 shares of the specialty pharmaceutical company’s stock after buying an additional 715,361 shares during the quarter. Bank of New York Mellon Corp’s holdings in Jazz Pharmaceuticals were worth $197,516,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in JAZZ. Vestal Point Capital LP acquired a new position in Jazz Pharmaceuticals during the 2nd quarter valued at about $127,344,000. Goldentree Asset Management LP acquired a new position in Jazz Pharmaceuticals during the 3rd quarter valued at about $149,597,000. Schonfeld Strategic Advisors LLC increased its position in Jazz Pharmaceuticals by 592.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 436,443 shares of the specialty pharmaceutical company’s stock valued at $57,523,000 after buying an additional 373,383 shares in the last quarter. AQR Capital Management LLC increased its position in Jazz Pharmaceuticals by 62.1% during the 2nd quarter. AQR Capital Management LLC now owns 794,770 shares of the specialty pharmaceutical company’s stock valued at $84,341,000 after buying an additional 304,463 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Jazz Pharmaceuticals by 11.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,836,652 shares of the specialty pharmaceutical company’s stock valued at $373,855,000 after buying an additional 298,815 shares in the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Jazz Pharmaceuticals
In other news, Director Rick E. Winningham sold 2,741 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $241.57, for a total value of $662,143.37. Following the sale, the director owned 9,567 shares in the company, valued at $2,311,100.19. This represents a 22.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce C. Cozadd sold 6,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $190.50, for a total value of $1,143,000.00. Following the completion of the sale, the director owned 384,682 shares in the company, valued at $73,281,921. The trade was a 1.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,028 shares of company stock worth $2,522,587 in the last 90 days. 4.30% of the stock is owned by company insiders.
Jazz Pharmaceuticals Stock Down 0.6%
Jazz Pharmaceuticals (NASDAQ:JAZZ – Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. The business had revenue of $1.07 billion for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%. Equities analysts anticipate that Jazz Pharmaceuticals PLC will post 21.59 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on JAZZ shares. Leerink Partners upped their target price on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. TD Cowen upped their target price on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Sanford C. Bernstein assumed coverage on Jazz Pharmaceuticals in a research note on Thursday, May 21st. They set a “market perform” rating and a $229.00 price target on the stock. Finally, Raymond James Financial reiterated an “outperform” rating and set a $239.00 price target on shares of Jazz Pharmaceuticals in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $242.65.
Read Our Latest Analysis on Jazz Pharmaceuticals
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.
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