Tri Locum Partners LP acquired a new position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ – Free Report) during the first quarter, HoldingsChannel reports. The institutional investor acquired 158,663 shares of the specialty pharmaceutical company’s stock, valued at approximately $29,995,000. Jazz Pharmaceuticals makes up about 4.2% of Tri Locum Partners LP’s holdings, making the stock its 12th biggest position.
Several other large investors have also added to or reduced their stakes in the stock. Ruffer LLP purchased a new stake in shares of Jazz Pharmaceuticals in the 4th quarter worth about $2,425,000. Allianz Asset Management GmbH increased its position in shares of Jazz Pharmaceuticals by 68.2% during the fourth quarter. Allianz Asset Management GmbH now owns 598,832 shares of the specialty pharmaceutical company’s stock valued at $101,801,000 after buying an additional 242,892 shares during the period. Capricorn Fund Managers Ltd purchased a new position in shares of Jazz Pharmaceuticals during the fourth quarter valued at about $1,700,000. Swedbank AB raised its stake in Jazz Pharmaceuticals by 2.7% in the fourth quarter. Swedbank AB now owns 1,102,974 shares of the specialty pharmaceutical company’s stock worth $187,506,000 after buying an additional 28,882 shares in the last quarter. Finally, SEB Asset Management AB bought a new position in Jazz Pharmaceuticals in the first quarter worth about $8,765,000. Institutional investors own 89.14% of the company’s stock.
Analyst Ratings Changes
JAZZ has been the subject of several research analyst reports. Sanford C. Bernstein restated a “market perform” rating on shares of Jazz Pharmaceuticals in a report on Tuesday, June 9th. Leerink Partners increased their target price on Jazz Pharmaceuticals from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Barclays raised their target price on Jazz Pharmaceuticals from $253.00 to $260.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their price target on Jazz Pharmaceuticals from $265.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Finally, Bank of America upped their price target on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $259.06.
Insiders Place Their Bets
In related news, EVP Neena M. Patil sold 1,200 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $231.83, for a total value of $278,196.00. Following the transaction, the executive vice president owned 51,549 shares in the company, valued at $11,950,604.67. The trade was a 2.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Douglas Smith sold 1,157 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $230.55, for a total transaction of $266,746.35. Following the sale, the director directly owned 9,680 shares in the company, valued at $2,231,724. This trade represents a 10.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 13,098 shares of company stock valued at $3,131,906. Company insiders own 4.10% of the company’s stock.
Jazz Pharmaceuticals Price Performance
JAZZ stock opened at $255.97 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. The firm has a 50 day moving average price of $238.62 and a 200-day moving average price of $205.35. Jazz Pharmaceuticals PLC has a 52-week low of $105.00 and a 52-week high of $261.30. The firm has a market capitalization of $16.08 billion, a price-to-earnings ratio of -12,792.10, a PEG ratio of 0.23 and a beta of 0.32.
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. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%.The company had revenue of $1.07 billion for the quarter. Equities research analysts forecast that Jazz Pharmaceuticals PLC will post 21.9 EPS for the current fiscal year.
About Jazz Pharmaceuticals
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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