KLP Kapitalforvaltning AS Takes Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

KLP Kapitalforvaltning AS acquired a new position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,000 shares of the specialty pharmaceutical company's stock, valued at approximately $2,094,000.

A number of other hedge funds have also recently made changes to their positions in JAZZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Jazz Pharmaceuticals by 135.3% in the third 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 worth $19,394,000 after purchasing an additional 100,112 shares during the last quarter. Centre Asset Management LLC bought a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at about $9,335,000. Moloney Securities Asset Management LLC purchased a new stake in Jazz Pharmaceuticals during the 4th quarter valued at about $464,000. Franklin Resources Inc. grew its position in Jazz Pharmaceuticals by 4.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,118,688 shares of the specialty pharmaceutical company's stock worth $124,208,000 after acquiring an additional 48,708 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Jazz Pharmaceuticals by 13.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 35,894 shares of the specialty pharmaceutical company's stock worth $4,420,000 after purchasing an additional 4,332 shares during the period. 89.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JAZZ has been the topic of several recent analyst reports. Royal Bank of Canada cut their target price 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. Wells Fargo & Company raised shares of Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $130.00 to $170.00 in a report on Thursday, February 13th. Barclays restated an "overweight" rating and issued a $200.00 price objective (up previously from $190.00) on shares of Jazz Pharmaceuticals in a research report on Thursday, February 27th. Piper Sandler reiterated an "overweight" rating and set a $176.00 target price (up from $163.00) on shares of Jazz Pharmaceuticals in a report on Wednesday, February 26th. Finally, UBS Group upgraded Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and boosted their price target for the company from $145.00 to $179.00 in a report on Friday, March 7th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Jazz Pharmaceuticals currently has an average rating of "Buy" and an average target price of $187.71.

Insider Buying and Selling at Jazz Pharmaceuticals

In related news, CAO Patricia Carr sold 4,813 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $144.42, for a total value of $695,093.46. Following the completion of the transaction, the chief accounting officer now directly owns 8,237 shares in the company, valued at $1,189,587.54. This trade represents a 36.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bruce C. Cozadd sold 1,500 shares of the business's stock in a transaction dated 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 $53,785,088.64. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,736 shares of company stock valued at $4,022,825. 4.20% of the stock is currently owned by company insiders.

Jazz Pharmaceuticals Stock Up 0.7 %

Shares of JAZZ traded up $0.84 on Tuesday, reaching $124.99. The stock had a trading volume of 1,326,836 shares, compared to its average volume of 742,269. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.04 and a beta of 0.44. The company has a 50-day simple moving average of $132.43 and a 200-day simple moving average of $122.90. Jazz Pharmaceuticals plc has a 12-month low of $99.06 and a 12-month high of $148.06. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26.

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.