Bank of New York Mellon Corp Boosts Stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Bank of New York Mellon Corp increased its position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 477,751 shares of the specialty pharmaceutical company's stock after acquiring an additional 24,481 shares during the period. Bank of New York Mellon Corp owned about 0.79% of Jazz Pharmaceuticals worth $58,835,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its position in shares of Jazz Pharmaceuticals by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 1,972 shares of the specialty pharmaceutical company's stock valued at $243,000 after acquiring an additional 97 shares during the period. UMB Bank n.a. grew its position in shares of Jazz Pharmaceuticals by 70.9% during the 4th quarter. UMB Bank n.a. now owns 311 shares of the specialty pharmaceutical company's stock valued at $38,000 after acquiring an additional 129 shares during the period. Waterfront Wealth Inc. grew its position in shares of Jazz Pharmaceuticals by 1.4% during the 4th quarter. Waterfront Wealth Inc. now owns 9,675 shares of the specialty pharmaceutical company's stock valued at $1,191,000 after acquiring an additional 137 shares during the period. Ellsworth Advisors LLC grew its position in shares of Jazz Pharmaceuticals by 0.4% during the 4th quarter. Ellsworth Advisors LLC now owns 37,962 shares of the specialty pharmaceutical company's stock valued at $4,675,000 after acquiring an additional 149 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in shares of Jazz Pharmaceuticals by 2.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,045 shares of the specialty pharmaceutical company's stock valued at $868,000 after acquiring an additional 155 shares during the period. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

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Jazz Pharmaceuticals Price Performance

JAZZ stock traded up $2.36 during mid-day trading on Friday, hitting $138.81. The company had a trading volume of 1,226,548 shares, compared to its average volume of 763,953. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 1.04 and a beta of 0.44. Jazz Pharmaceuticals plc has a 12-month low of $99.06 and a 12-month high of $148.06. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. The company has a 50-day moving average price of $128.14 and a 200 day moving average price of $120.00.

Analyst Upgrades and Downgrades

JAZZ has been the subject of several recent analyst reports. Wells Fargo & Company raised shares of Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $130.00 to $170.00 in a report on Thursday, February 13th. Robert W. Baird upped their target price on shares of Jazz Pharmaceuticals from $154.00 to $162.00 and gave the stock an "outperform" rating in a report on Monday, November 18th. Piper Sandler reaffirmed an "overweight" rating and issued a $176.00 target price (up previously from $163.00) on shares of Jazz Pharmaceuticals in a report on Wednesday, February 26th. Truist Financial upped their target price on shares of Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a "buy" rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on shares of Jazz Pharmaceuticals from $200.00 to $209.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $189.40.

Insiders Place Their Bets

In other news, CMO Robert Iannone sold 7,080 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $138.60, for a total transaction of $981,288.00. Following the sale, the chief marketing officer now directly owns 82,024 shares in the company, valued at approximately $11,368,526.40. This represents a 7.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bruce C. Cozadd sold 1,500 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $122.31, for a total transaction of $183,465.00. Following the sale, the chief executive officer now owns 439,744 shares in the company, valued at $53,785,088.64. This represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,193 shares of company stock worth $3,533,122 in the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

About Jazz Pharmaceuticals

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.