Corebridge Financial Inc. Lowers Stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Corebridge Financial Inc. trimmed its position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 68,405 shares of the specialty pharmaceutical company's stock after selling 4,619 shares during the period. Corebridge Financial Inc. owned about 0.11% of Jazz Pharmaceuticals worth $8,424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc bought a new position in shares of Jazz Pharmaceuticals in the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp boosted its position in Jazz Pharmaceuticals by 75.1% in the fourth quarter. Jones Financial Companies Lllp now owns 303 shares of the specialty pharmaceutical company's stock worth $37,000 after purchasing an additional 130 shares during the last quarter. UMB Bank n.a. grew its stake in Jazz Pharmaceuticals by 70.9% in the 4th quarter. UMB Bank n.a. now owns 311 shares of the specialty pharmaceutical company's stock valued at $38,000 after purchasing an additional 129 shares during the period. Lindbrook Capital LLC increased its position in shares of Jazz Pharmaceuticals by 82.6% during the 4th quarter. Lindbrook Capital LLC now owns 389 shares of the specialty pharmaceutical company's stock valued at $48,000 after purchasing an additional 176 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its stake in shares of Jazz Pharmaceuticals by 63.2% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 444 shares of the specialty pharmaceutical company's stock worth $49,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 89.14% of the company's stock.

Insider Buying and Selling

In other news, CMO Robert Iannone sold 2,403 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $138.41, for a total value of $332,599.23. Following the transaction, the chief marketing officer now owns 79,621 shares of the company's stock, valued at approximately $11,020,342.61. This represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Neena M. Patil sold 3,800 shares of Jazz Pharmaceuticals stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $144.87, for a total value of $550,506.00. Following the sale, the executive vice president now directly owns 33,318 shares of the company's stock, valued at $4,826,778.66. This represents a 10.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,736 shares of company stock valued at $4,022,825. Company insiders own 4.20% of the company's stock.

Jazz Pharmaceuticals Price Performance

Shares of JAZZ traded up $0.84 during midday trading on Tuesday, hitting $124.99. 1,326,836 shares of the company traded hands, compared to its average volume of 742,269. Jazz Pharmaceuticals plc has a one year low of $99.06 and a one year high of $148.06. The firm has a market cap of $7.59 billion, a P/E ratio of 17.60, a PEG ratio of 1.04 and a beta of 0.44. 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 stock has a 50-day moving average of $132.43 and a 200-day moving average of $122.90.

Analysts Set New Price Targets

A number of analysts recently issued reports on JAZZ shares. Cantor Fitzgerald downgraded shares of Jazz Pharmaceuticals from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $140.00 to $150.00 in a report on Wednesday, February 26th. Needham & Company LLC restated a "buy" rating and set a $210.00 price target on shares of Jazz Pharmaceuticals in a research note on Wednesday, March 5th. Barclays reaffirmed an "overweight" rating and issued a $200.00 price target (up previously from $190.00) on shares of Jazz Pharmaceuticals in a report on Thursday, February 27th. Piper Sandler reissued an "overweight" rating and set a $176.00 price objective (up from $163.00) on shares of Jazz Pharmaceuticals in a report on Wednesday, February 26th. Finally, Truist Financial boosted their target price on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $187.71.

Jazz Pharmaceuticals Company 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.