State of Michigan Retirement System Lowers Stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

State of Michigan Retirement System lowered its holdings in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 14.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 15,204 shares of the specialty pharmaceutical company's stock after selling 2,560 shares during the period. State of Michigan Retirement System's holdings in Jazz Pharmaceuticals were worth $1,623,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of JAZZ. Rise Advisors LLC grew its stake in Jazz Pharmaceuticals by 2,255.6% in the 1st quarter. Rise Advisors LLC now owns 212 shares of the specialty pharmaceutical company's stock valued at $26,000 after buying an additional 203 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Jazz Pharmaceuticals by 13,450.0% during the second quarter. Versant Capital Management Inc now owns 271 shares of the specialty pharmaceutical company's stock worth $29,000 after acquiring an additional 269 shares during the period. GAMMA Investing LLC increased its stake in shares of Jazz Pharmaceuticals by 65.5% during the second quarter. GAMMA Investing LLC now owns 293 shares of the specialty pharmaceutical company's stock worth $31,000 after purchasing an additional 116 shares during the period. Cape Investment Advisory Inc. boosted its stake in Jazz Pharmaceuticals by 14,600.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 294 shares of the specialty pharmaceutical company's stock valued at $36,000 after purchasing an additional 292 shares during the period. Finally, Gladius Capital Management LP acquired a new position in Jazz Pharmaceuticals in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 89.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Robert W. Baird dropped their target price on Jazz Pharmaceuticals from $160.00 to $154.00 and set an "outperform" rating for the company in a report on Thursday, August 1st. Barclays cut their price objective on shares of Jazz Pharmaceuticals from $230.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 3rd. Needham & Company LLC lowered their target price on shares of Jazz Pharmaceuticals from $208.00 to $205.00 and set a "buy" rating on the stock in a report on Thursday, August 1st. HC Wainwright reiterated a "buy" rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a research report on Thursday, August 1st. Finally, Morgan Stanley reduced their price target on Jazz Pharmaceuticals from $160.00 to $150.00 and set an "equal weight" rating on the stock in a research report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Jazz Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $173.07.

Jazz Pharmaceuticals Price Performance

Jazz Pharmaceuticals stock traded down $0.77 during midday trading on Thursday, reaching $115.60. The company's stock had a trading volume of 241,526 shares, compared to its average volume of 663,217. The company has a current ratio of 2.37, a quick ratio of 1.90 and a debt-to-equity ratio of 1.36. The stock has a market cap of $7.29 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58. Jazz Pharmaceuticals plc has a 52 week low of $99.06 and a 52 week high of $146.70. The business has a 50-day moving average price of $109.22 and a 200-day moving average price of $112.90.

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.