Pictet Asset Management Holding SA Reduces Stock Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Pictet Asset Management Holding SA trimmed its stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,720 shares of the specialty pharmaceutical company's stock after selling 13,495 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.35% of Jazz Pharmaceuticals worth $26,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. IFP Advisors Inc bought a new position in shares of Jazz Pharmaceuticals in the fourth quarter worth approximately $25,000. CoreFirst Bank & Trust purchased a new position in shares of Jazz Pharmaceuticals in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp raised its stake in shares of Jazz Pharmaceuticals by 75.1% during the fourth quarter. Jones Financial Companies Lllp now owns 303 shares of the specialty pharmaceutical company's stock valued at $37,000 after acquiring an additional 130 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Jazz Pharmaceuticals by 70.9% during the fourth quarter. UMB Bank n.a. now owns 311 shares of the specialty pharmaceutical company's stock worth $38,000 after purchasing an additional 129 shares during the period. Finally, Lindbrook Capital LLC boosted its holdings in shares of Jazz Pharmaceuticals by 82.6% during the fourth quarter. Lindbrook Capital LLC now owns 389 shares of the specialty pharmaceutical company's stock worth $48,000 after purchasing an additional 176 shares during the period. 89.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Patricia Carr sold 1,140 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $137.81, for a total transaction of $157,103.40. Following the completion of the sale, the chief accounting officer now owns 7,012 shares of the company's stock, valued at $966,323.72. This trade represents a 13.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Bruce C. Cozadd sold 1,500 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.31, for a total value of $183,465.00. Following the completion of the transaction, the chief executive officer now directly owns 439,744 shares in the company, valued at $53,785,088.64. This trade represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,736 shares of company stock worth $4,023,305 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

Jazz Pharmaceuticals Stock Down 8.9 %

Shares of Jazz Pharmaceuticals stock traded down $10.78 during midday trading on Friday, hitting $110.04. The company had a trading volume of 2,171,302 shares, compared to its average volume of 755,523. Jazz Pharmaceuticals plc has a 52-week low of $99.06 and a 52-week 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. The stock has a market capitalization of $6.68 billion, a P/E ratio of 15.50, a P/E/G ratio of 1.04 and a beta of 0.44. The company has a 50 day moving average of $132.27 and a 200 day moving average of $122.99.

Analysts Set New Price Targets

A number of research analysts have commented on JAZZ shares. UBS Group raised Jazz Pharmaceuticals from a "neutral" rating to a "buy" rating and upped their price target for the company from $145.00 to $179.00 in a research report on Friday, March 7th. Cantor Fitzgerald lowered Jazz Pharmaceuticals from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $140.00 to $150.00 in a research note on Wednesday, February 26th. Barclays reissued an "overweight" rating and set a $200.00 price objective (up from $190.00) on shares of Jazz Pharmaceuticals in a research report on Thursday, February 27th. Morgan Stanley reaffirmed an "overweight" rating and issued a $183.00 target price (up from $175.00) on shares of Jazz Pharmaceuticals in a research report on Friday, March 7th. Finally, Wells Fargo & Company raised shares of Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $130.00 to $170.00 in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Jazz Pharmaceuticals has an average rating of "Buy" and a consensus price target of $187.71.

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.