KBC Group NV Lowers Holdings in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

KBC Group NV reduced its stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 39.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 228,304 shares of the specialty pharmaceutical company's stock after selling 149,549 shares during the period. KBC Group NV owned approximately 0.37% of Jazz Pharmaceuticals worth $25,435,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in shares of Jazz Pharmaceuticals by 13,450.0% in the 2nd quarter. Versant Capital Management Inc now owns 271 shares of the specialty pharmaceutical company's stock worth $29,000 after purchasing an additional 269 shares during the period. Itau Unibanco Holding S.A. bought a new position in Jazz Pharmaceuticals during the second quarter valued at $29,000. EverSource Wealth Advisors LLC raised its stake in shares of Jazz Pharmaceuticals by 55.1% in the second quarter. EverSource Wealth Advisors LLC now owns 273 shares of the specialty pharmaceutical company's stock valued at $30,000 after acquiring an additional 97 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Jazz Pharmaceuticals by 65.5% in the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the specialty pharmaceutical company's stock worth $31,000 after acquiring an additional 116 shares during the last quarter. Finally, Gladius Capital Management LP purchased a new position in shares of Jazz Pharmaceuticals during the 2nd quarter worth about $33,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Stock Performance

Shares of Jazz Pharmaceuticals stock traded down $2.62 during midday trading on Friday, hitting $121.65. The company had a trading volume of 718,165 shares, compared to its average volume of 678,628. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.07 and a beta of 0.57. Jazz Pharmaceuticals plc has a 12-month low of $99.06 and a 12-month high of $134.17. 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 fifty day simple moving average of $112.22 and a 200 day simple moving average of $110.35.

Insider Buying and Selling at Jazz Pharmaceuticals

In related news, EVP Neena M. Patil sold 3,700 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $123.41, for a total value of $456,617.00. Following the transaction, the executive vice president now owns 33,048 shares in the company, valued at approximately $4,078,453.68. This represents a 10.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mary Elizabeth Henderson sold 1,410 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $108.30, for a total transaction of $152,703.00. Following the sale, the senior vice president now owns 14,531 shares of the company's stock, valued at approximately $1,573,707.30. The trade was a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,110 shares of company stock worth $720,160. 4.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on JAZZ shares. Piper Sandler reduced their price objective on shares of Jazz Pharmaceuticals from $188.00 to $166.00 and set an "overweight" rating on the stock in a research report on Thursday, August 1st. TD Cowen decreased their price target on Jazz Pharmaceuticals from $200.00 to $195.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $140.00 price objective on shares of Jazz Pharmaceuticals in a research report on Monday, September 9th. StockNews.com upgraded Jazz Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC restated a "buy" rating and issued a $207.00 price target on shares of Jazz Pharmaceuticals in a report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.00.

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.