Franklin Resources Inc. Cuts Stock Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Franklin Resources Inc. reduced its position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 41.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 658,751 shares of the specialty pharmaceutical company's stock after selling 459,937 shares during the quarter. Franklin Resources Inc. owned 1.09% of Jazz Pharmaceuticals worth $81,125,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of JAZZ. Pacer Advisors Inc. raised its stake in shares of Jazz Pharmaceuticals by 5.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,214,480 shares of the specialty pharmaceutical company's stock valued at $272,713,000 after acquiring an additional 115,102 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Jazz Pharmaceuticals by 135.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,078 shares of the specialty pharmaceutical company's stock valued at $19,394,000 after purchasing an additional 100,112 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in Jazz Pharmaceuticals by 26.6% in the 4th quarter. GW&K Investment Management LLC now owns 464,003 shares of the specialty pharmaceutical company's stock worth $57,142,000 after buying an additional 97,589 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Jazz Pharmaceuticals by 501.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,055 shares of the specialty pharmaceutical company's stock worth $13,800,000 after buying an additional 93,422 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Jazz Pharmaceuticals during the fourth quarter valued at approximately $11,373,000. Hedge funds and other institutional investors own 89.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on JAZZ shares. Wells Fargo & Company raised shares of Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $130.00 to $170.00 in a research note on Thursday, February 13th. Cantor Fitzgerald lowered Jazz Pharmaceuticals from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, February 26th. Truist Financial lifted their price target on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. UBS Group raised Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and upped their price target for the stock from $145.00 to $179.00 in a research note on Friday, March 7th. Finally, Morgan Stanley reissued an "overweight" rating and set a $183.00 price objective (up previously from $175.00) on shares of Jazz Pharmaceuticals in a research report on Friday, March 7th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $187.71.

Jazz Pharmaceuticals Stock Up 0.1 %

Shares of JAZZ traded up $0.12 during midday trading on Tuesday, reaching $107.05. 363,599 shares of the stock were exchanged, compared to its average volume of 757,592. 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 company's 50 day moving average is $131.92 and its two-hundred day moving average is $123.06. The company has a market capitalization of $6.50 billion, a P/E ratio of 15.00, a PEG ratio of 1.04 and a beta of 0.42. Jazz Pharmaceuticals plc has a 52 week low of $99.06 and a 52 week high of $148.06.

Insider Activity

In other Jazz Pharmaceuticals news, CMO Robert Iannone sold 7,080 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $138.60, for a total value of $981,288.00. Following the completion of the sale, the chief marketing officer now directly owns 82,024 shares in the company, valued at approximately $11,368,526.40. This trade represents a 7.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Bruce C. Cozadd sold 1,500 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $122.31, for a total transaction of $183,465.00. Following the sale, the chief executive officer now directly owns 439,744 shares in the company, valued at approximately $53,785,088.64. This represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,736 shares of company stock worth $4,023,305. 4.20% of the stock is currently owned by company insiders.

Jazz Pharmaceuticals 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.