Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 285,878 shares of the specialty pharmaceutical company's stock after selling 6,530 shares during the quarter. California Public Employees Retirement System owned about 0.47% of Jazz Pharmaceuticals worth $35,206,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of JAZZ. Pacer Advisors Inc. grew its stake in shares of Jazz Pharmaceuticals by 5.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,214,480 shares of the specialty pharmaceutical company's stock worth $272,713,000 after acquiring an additional 115,102 shares during the period. JPMorgan Chase & Co. boosted its holdings in Jazz Pharmaceuticals by 4.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,587,541 shares of the specialty pharmaceutical company's stock worth $195,506,000 after purchasing an additional 72,007 shares during the last quarter. Franklin Resources Inc. grew its position in Jazz Pharmaceuticals by 4.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,118,688 shares of the specialty pharmaceutical company's stock worth $124,208,000 after purchasing an additional 48,708 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Jazz Pharmaceuticals by 15.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 615,517 shares of the specialty pharmaceutical company's stock valued at $75,801,000 after buying an additional 83,807 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Jazz Pharmaceuticals by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 477,751 shares of the specialty pharmaceutical company's stock valued at $58,835,000 after buying an additional 24,481 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 business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $138.41, for a total value of $332,599.23. Following the sale, the chief marketing officer now directly owns 79,621 shares in the company, valued at $11,020,342.61. The trade was a 2.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bruce C. Cozadd sold 1,500 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $123.75, for a total transaction of $185,625.00. Following the completion of the transaction, the chief executive officer now directly owns 440,307 shares of the company's stock, valued at approximately $54,487,991.25. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,736 shares of company stock worth $4,023,305. Corporate insiders own 4.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley reissued an "overweight" rating and issued a $183.00 target price (up previously from $175.00) on shares of Jazz Pharmaceuticals in a report on Friday, March 7th. Royal Bank of Canada dropped their price objective on shares of Jazz Pharmaceuticals from $179.00 to $178.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Barclays restated an "overweight" rating and set a $200.00 target price (up from $190.00) on shares of Jazz Pharmaceuticals in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and issued a $210.00 price target on shares of Jazz Pharmaceuticals in a research report on Wednesday, March 5th. Finally, Piper Sandler reissued an "overweight" rating and set a $176.00 price objective (up previously from $163.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, February 26th. One equities research 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 company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $187.71.

Jazz Pharmaceuticals Price Performance

JAZZ stock traded down $3.11 during mid-day trading on Monday, hitting $106.93. The company had a trading volume of 1,633,771 shares, compared to its average volume of 759,022. The company has a market capitalization of $6.49 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 1.04 and a beta of 0.42. The company has a 50-day moving average price of $131.92 and a 200 day moving average price of $123.06. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. Jazz Pharmaceuticals plc has a 12-month low of $99.06 and a 12-month high of $148.06.

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.