First Trust Advisors LP Decreases Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

First Trust Advisors LP cut its holdings in Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,215 shares of the specialty pharmaceutical company's stock after selling 15,812 shares during the period. First Trust Advisors LP owned about 0.53% of Jazz Pharmaceuticals worth $39,558,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of JAZZ. Centre Asset Management LLC purchased a new stake in shares of Jazz Pharmaceuticals during the fourth quarter worth $9,335,000. Moloney Securities Asset Management LLC purchased a new position in Jazz Pharmaceuticals during the 4th quarter valued at about $464,000. Franklin Resources Inc. increased its position in shares of Jazz Pharmaceuticals by 4.6% during the third quarter. Franklin Resources Inc. now owns 1,118,688 shares of the specialty pharmaceutical company's stock valued at $124,208,000 after buying an additional 48,708 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Jazz Pharmaceuticals by 13.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 35,894 shares of the specialty pharmaceutical company's stock valued at $4,420,000 after acquiring an additional 4,332 shares during the period. Finally, BTC Capital Management Inc. increased its holdings in Jazz Pharmaceuticals by 9.4% during the 4th quarter. BTC Capital Management Inc. now owns 49,653 shares of the specialty pharmaceutical company's stock worth $6,115,000 after acquiring an additional 4,271 shares during the period. 89.14% of the stock is currently owned by institutional investors.

Insider Transactions at Jazz Pharmaceuticals

In related news, CAO Patricia Carr sold 4,813 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $144.42, for a total value of $695,093.46. Following the sale, the chief accounting officer now owns 8,237 shares in the company, valued at $1,189,587.54. This represents a 36.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Bruce C. Cozadd sold 1,500 shares of Jazz Pharmaceuticals stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $123.75, for a total value of $185,625.00. Following the transaction, the chief executive officer now owns 440,307 shares of the company's stock, valued at $54,487,991.25. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,736 shares of company stock valued at $4,023,305. Company insiders own 4.20% of the company's stock.

Jazz Pharmaceuticals Trading Up 3.1 %

Shares of JAZZ stock traded up $3.47 during trading hours on Tuesday, reaching $116.36. The company's stock had a trading volume of 529,353 shares, compared to its average volume of 797,644. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46. The firm's fifty day simple moving average is $124.20 and its 200 day simple moving average is $122.44. The stock has a market capitalization of $7.07 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.04 and a beta of 0.42. Jazz Pharmaceuticals plc has a one year low of $95.49 and a one year high of $148.06.

Wall Street Analyst Weigh In

A number of research firms have recently commented on JAZZ. Royal Bank of Canada reduced their price target on shares of Jazz Pharmaceuticals from $179.00 to $178.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Piper Sandler restated an "overweight" rating and issued a $176.00 target price (up from $163.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, February 26th. Morgan Stanley reiterated an "overweight" rating and set a $183.00 price target (up previously from $175.00) on shares of Jazz Pharmaceuticals in a research report on Friday, March 7th. Cantor Fitzgerald cut shares of Jazz Pharmaceuticals from an "overweight" rating to a "neutral" rating and upped their price objective for the stock from $140.00 to $150.00 in a research report on Wednesday, February 26th. Finally, HC Wainwright increased their target price on Jazz Pharmaceuticals from $200.00 to $217.00 and gave the company a "buy" rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals presently has a consensus rating of "Buy" and an average target price 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.