Convergence Investment Partners LLC Raises Stock Holdings in Jazz Pharmaceuticals PLC $JAZZ

Convergence Investment Partners LLC raised its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 34.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,285 shares of the specialty pharmaceutical company’s stock after purchasing an additional 3,905 shares during the period. Convergence Investment Partners LLC’s holdings in Jazz Pharmaceuticals were worth $2,890,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of Jazz Pharmaceuticals by 96.5% during the 1st quarter. Royal Bank of Canada now owns 67,614 shares of the specialty pharmaceutical company’s stock valued at $8,394,000 after buying an additional 33,210 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Jazz Pharmaceuticals by 147.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company’s stock worth $43,652,000 after acquiring an additional 209,667 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Jazz Pharmaceuticals by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,174 shares of the specialty pharmaceutical company’s stock worth $24,479,000 after acquiring an additional 7,954 shares in the last quarter. Focus Partners Wealth raised its position in Jazz Pharmaceuticals by 3.4% during the first quarter. Focus Partners Wealth now owns 4,623 shares of the specialty pharmaceutical company’s stock worth $574,000 after acquiring an additional 154 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in Jazz Pharmaceuticals by 57.6% during the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after acquiring an additional 137 shares during the period. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, Director Heather Ann Mcsharry sold 2,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $241.00, for a total value of $482,000.00. Following the completion of the sale, the director directly owned 18,449 shares in the company, valued at $4,446,209. This represents a 9.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce C. Cozadd sold 6,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $240.47, for a total value of $1,442,820.00. Following the completion of the sale, the director directly owned 366,682 shares of the company’s stock, valued at $88,176,020.54. This trade represents a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 13,098 shares of company stock valued at $3,131,906. 4.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on JAZZ shares. Weiss Ratings raised shares of Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. Leerink Partners boosted their target price on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Deutsche Bank Aktiengesellschaft upped their price target 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. Piper Sandler raised their price target on shares of Jazz Pharmaceuticals from $232.00 to $301.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Finally, Canaccord Genuity Group assumed coverage on Jazz Pharmaceuticals in a report on Thursday. They issued a “buy” rating and a $290.00 price objective on the stock. One 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.06.

Jazz Pharmaceuticals Stock Down 1.6%

Shares of NASDAQ JAZZ opened at $243.47 on Tuesday. The stock has a market cap of $15.29 billion, a PE ratio of -12,167.42, a P/E/G ratio of 0.22 and a beta of 0.32. The company has a current ratio of 2.04, a quick ratio of 1.85 and a debt-to-equity ratio of 0.95. Jazz Pharmaceuticals PLC has a 12-month low of $105.00 and a 12-month high of $250.49. The company has a 50-day moving average of $235.51 and a 200 day moving average of $201.15.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 earnings per share for the quarter. The business had revenue of $1.07 billion for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. As a group, sell-side analysts predict that Jazz Pharmaceuticals PLC will post 21.9 EPS for the current fiscal year.

Jazz Pharmaceuticals Profile

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.