Bank of New York Mellon Corp Sells 47,982 Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Bank of New York Mellon Corp trimmed its holdings in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 8.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 512,813 shares of the specialty pharmaceutical company's stock after selling 47,982 shares during the period. Bank of New York Mellon Corp owned approximately 0.81% of Jazz Pharmaceuticals worth $54,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC acquired a new position in Jazz Pharmaceuticals in the 2nd quarter valued at approximately $206,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Jazz Pharmaceuticals by 16.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 29,447 shares of the specialty pharmaceutical company's stock worth $3,143,000 after acquiring an additional 4,183 shares during the last quarter. Greylin Investment Management Inc purchased a new stake in shares of Jazz Pharmaceuticals during the second quarter worth $966,000. Gladius Capital Management LP acquired a new stake in Jazz Pharmaceuticals during the second quarter valued at $33,000. Finally, Blue Trust Inc. grew its stake in Jazz Pharmaceuticals by 24.5% in the second quarter. Blue Trust Inc. now owns 1,307 shares of the specialty pharmaceutical company's stock valued at $139,000 after purchasing an additional 257 shares in the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Stock Performance

NASDAQ JAZZ traded up $0.38 during trading on Friday, hitting $115.98. The company's stock had a trading volume of 365,743 shares, compared to its average volume of 494,747. Jazz Pharmaceuticals plc has a 52 week low of $99.06 and a 52 week high of $146.70. The firm has a market cap of $7.16 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 1.45 and a beta of 0.58. The firm has a 50 day moving average price of $109.54 and a 200 day moving average price of $112.73. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.36.

Wall Street Analyst Weigh In

JAZZ has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $140.00 price target on shares of Jazz Pharmaceuticals in a research note on Thursday, August 1st. The Goldman Sachs Group assumed coverage on shares of Jazz Pharmaceuticals in a research note on Wednesday, June 5th. They issued a "buy" rating and a $169.00 target price for the company. Morgan Stanley cut their price target on shares of Jazz Pharmaceuticals from $160.00 to $150.00 and set an "equal weight" rating on the stock in a report on Friday, July 12th. JPMorgan Chase & Co. upped their price objective on shares of Jazz Pharmaceuticals from $190.00 to $202.00 and gave the stock an "overweight" rating in a report on Monday, August 19th. Finally, HC Wainwright reissued a "buy" rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Jazz Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $173.07.

Jazz Pharmaceuticals Company 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.