Pictet Asset Management SA Sells 5,061 Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Pictet Asset Management SA cut its position in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ – Get Rating) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,467 shares of the specialty pharmaceutical company’s stock after selling 5,061 shares during the quarter. Pictet Asset Management SA’s holdings in Jazz Pharmaceuticals were worth $16,622,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in JAZZ. Point72 Asset Management L.P. bought a new position in shares of Jazz Pharmaceuticals during the 3rd quarter valued at about $97,566,000. Farallon Capital Management LLC bought a new position in Jazz Pharmaceuticals during the 3rd quarter worth approximately $74,859,000. Wellington Management Group LLP grew its position in Jazz Pharmaceuticals by 28.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,163,028 shares of the specialty pharmaceutical company’s stock worth $281,648,000 after acquiring an additional 482,295 shares during the last quarter. Bellevue Group AG grew its position in Jazz Pharmaceuticals by 41.2% during the 3rd quarter. Bellevue Group AG now owns 769,238 shares of the specialty pharmaceutical company’s stock worth $100,162,000 after acquiring an additional 224,488 shares during the last quarter. Finally, Morgan Stanley grew its position in Jazz Pharmaceuticals by 81.1% during the 2nd quarter. Morgan Stanley now owns 500,359 shares of the specialty pharmaceutical company’s stock worth $88,884,000 after acquiring an additional 224,068 shares during the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Several equities analysts recently issued reports on JAZZ shares. HC Wainwright raised their price target on Jazz Pharmaceuticals from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, March 3rd. Cowen raised their price target on Jazz Pharmaceuticals from $200.00 to $225.00 in a research report on Thursday, May 5th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Jazz Pharmaceuticals in a report on Wednesday, March 2nd. StockNews.com upgraded Jazz Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, April 26th. Finally, Piper Sandler dropped their price objective on Jazz Pharmaceuticals from $197.00 to $193.00 in a report on Thursday, May 5th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $206.47.

In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 1,067 shares of Jazz Pharmaceuticals stock in a transaction on Monday, May 9th. The stock was sold at an average price of $148.94, for a total value of $158,918.98. Following the completion of the sale, the chief accounting officer now owns 7,229 shares of the company’s stock, valued at approximately $1,076,687.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anne Oriordan sold 466 shares of Jazz Pharmaceuticals stock in a transaction on Monday, May 9th. The stock was sold at an average price of $148.95, for a total value of $69,410.70. Following the completion of the sale, the director now directly owns 9,245 shares of the company’s stock, valued at approximately $1,377,042.75. The disclosure for this sale can be found here. Insiders have sold 22,330 shares of company stock valued at $3,483,255 in the last quarter. 4.30% of the stock is owned by company insiders.

JAZZ opened at $147.52 on Thursday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 2.06 and a current ratio of 3.39. The business has a 50 day moving average of $158.00 and a 200-day moving average of $143.08. Jazz Pharmaceuticals plc has a 52 week low of $117.64 and a 52 week high of $189.00.

Jazz Pharmaceuticals (NASDAQ:JAZZ – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The specialty pharmaceutical company reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.73. The business had revenue of $813.72 million during the quarter, compared to analysts’ expectations of $853.73 million. Jazz Pharmaceuticals had a positive return on equity of 22.45% and a negative net margin of 13.63%. The firm’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.42 earnings per share. As a group, analysts expect that Jazz Pharmaceuticals plc will post 14.73 EPS for the current year.

About Jazz Pharmaceuticals (Get Rating)

Jazz Pharmaceuticals plc, a biopharmaceutical company, identifies, develops, and commercializes pharmaceutical products for various unmet medical needs in the United States, Europe, and internationally. The company has a portfolio of products and product candidates with a focus in the areas of neuroscience, including sleep medicine and movement disorders; and in oncology, including hematologic and solid tumors.

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