Zurcher Kantonalbank Zurich Cantonalbank Reduces Holdings in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 74.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,170 shares of the specialty pharmaceutical company's stock after selling 29,474 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Jazz Pharmaceuticals were worth $1,085,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital World Investors bought a new stake in shares of Jazz Pharmaceuticals during the 1st quarter worth about $171,943,000. Swedbank AB bought a new position in shares of Jazz Pharmaceuticals during the 2nd quarter worth approximately $106,936,000. Vestal Point Capital LP acquired a new position in shares of Jazz Pharmaceuticals during the fourth quarter valued at about $89,175,000. Armistice Capital LLC grew its holdings in shares of Jazz Pharmaceuticals by 108.4% during the fourth quarter. Armistice Capital LLC now owns 651,626 shares of the specialty pharmaceutical company's stock valued at $80,150,000 after buying an additional 338,882 shares during the last quarter. Finally, Perpetual Ltd boosted its position in shares of Jazz Pharmaceuticals by 54.0% during the first quarter. Perpetual Ltd now owns 475,018 shares of the specialty pharmaceutical company's stock valued at $57,202,000 after buying an additional 166,543 shares during the last quarter. 89.14% of the stock is currently owned by institutional investors.

Jazz Pharmaceuticals Stock Performance

Jazz Pharmaceuticals stock traded down $0.68 during mid-day trading on Wednesday, hitting $108.64. The company had a trading volume of 4,208,405 shares, compared to its average volume of 687,949. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.36. The company's fifty day moving average is $109.69 and its 200-day moving average is $112.53. Jazz Pharmaceuticals plc has a 12-month low of $99.06 and a 12-month high of $143.32. The company has a market capitalization of $6.85 billion, a price-to-earnings ratio of 22.54, a P/E/G ratio of 1.45 and a beta of 0.58.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on JAZZ shares. UBS Group decreased their price target on shares of Jazz Pharmaceuticals from $117.00 to $113.00 and set a "neutral" rating for the company in a research note on Tuesday, July 2nd. HC Wainwright restated a "buy" rating and set a $200.00 price target on shares of Jazz Pharmaceuticals in a research report on Thursday, August 1st. The Goldman Sachs Group began coverage on Jazz Pharmaceuticals in a report on Wednesday, June 5th. They issued a "buy" rating and a $169.00 price objective for the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $140.00 price target on shares of Jazz Pharmaceuticals in a research note on Thursday, August 1st. Finally, Morgan Stanley dropped their target price on shares of Jazz Pharmaceuticals from $160.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Friday, July 12th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.