The Manufacturers Life Insurance Company Sells 12,681 Shares of Jazz Pharmaceuticals PLC $JAZZ

The Manufacturers Life Insurance Company decreased its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 535,062 shares of the specialty pharmaceutical company’s stock after selling 12,681 shares during the period. The Manufacturers Life Insurance Company owned about 0.85% of Jazz Pharmaceuticals worth $101,153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in JAZZ. LRI Investments LLC bought a new position in shares of Jazz Pharmaceuticals in the fourth quarter worth about $38,000. Westpac Banking Corp bought a new stake in Jazz Pharmaceuticals during the 1st quarter valued at about $51,000. Leonteq Securities AG bought a new stake in Jazz Pharmaceuticals during the 4th quarter valued at about $50,000. Root Financial Partners LLC boosted its position in Jazz Pharmaceuticals by 42.8% in the 1st quarter. Root Financial Partners LLC now owns 297 shares of the specialty pharmaceutical company’s stock valued at $56,000 after buying an additional 89 shares during the period. Finally, Danske Bank A S purchased a new stake in Jazz Pharmaceuticals in the 3rd quarter valued at about $40,000. 89.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Neena M. Patil sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $231.83, for a total transaction of $278,196.00. Following the sale, the executive vice president owned 51,549 shares of the company’s stock, valued at $11,950,604.67. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce C. Cozadd sold 6,000 shares of Jazz Pharmaceuticals stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $240.47, for a total value of $1,442,820.00. Following the completion of the transaction, the director owned 366,682 shares in the company, valued at $88,176,020.54. This trade represents a 1.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 13,098 shares of company stock worth $3,131,906. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on JAZZ shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Jazz Pharmaceuticals from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. UBS Group raised Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $188.00 to $307.00 in a research note on Tuesday, May 19th. Morgan Stanley restated an “overweight” rating and set a $245.00 price objective on shares of Jazz Pharmaceuticals in a report on Thursday, May 7th. TD Cowen lifted their target price on Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Jazz Pharmaceuticals in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $259.06.

Jazz Pharmaceuticals Price Performance

NASDAQ JAZZ opened at $256.92 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.85 and a current ratio of 2.04. The firm’s 50 day moving average price is $238.28 and its 200-day moving average price is $204.68. Jazz Pharmaceuticals PLC has a 52-week low of $105.00 and a 52-week high of $261.30. The company has a market cap of $16.14 billion, a PE ratio of -12,839.58, a P/E/G ratio of 0.23 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings data on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. The company had revenue of $1.07 billion during the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. Sell-side analysts forecast that Jazz Pharmaceuticals PLC will post 21.9 EPS for the current fiscal year.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.