Jennison Associates LLC Has $25.85 Million Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Jennison Associates LLC reduced its holdings in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 55.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 210,186 shares of the specialty pharmaceutical company’s stock after selling 260,413 shares during the period. Jennison Associates LLC’s holdings in Jazz Pharmaceuticals were worth $25,853,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Daiwa Securities Group Inc. increased its stake in shares of Jazz Pharmaceuticals by 2.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,076 shares of the specialty pharmaceutical company’s stock worth $528,000 after purchasing an additional 100 shares during the last quarter. Waterfront Wealth Inc. increased its stake in shares of Jazz Pharmaceuticals by 1.2% during the 4th quarter. Waterfront Wealth Inc. now owns 8,633 shares of the specialty pharmaceutical company’s stock worth $1,062,000 after purchasing an additional 103 shares during the last quarter. Prime Capital Investment Advisors LLC increased its stake in shares of Jazz Pharmaceuticals by 4.3% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 2,646 shares of the specialty pharmaceutical company’s stock worth $325,000 after purchasing an additional 108 shares during the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of Jazz Pharmaceuticals by 0.8% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 13,096 shares of the specialty pharmaceutical company’s stock worth $1,695,000 after purchasing an additional 110 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Jazz Pharmaceuticals by 2.2% during the 3rd quarter. Fifth Third Bancorp now owns 5,339 shares of the specialty pharmaceutical company’s stock worth $691,000 after purchasing an additional 114 shares during the last quarter. 89.14% of the stock is currently owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Stock Performance

Shares of Jazz Pharmaceuticals stock opened at $108.32 on Thursday. The company has a 50 day moving average of $118.98 and a 200-day moving average of $122.04. Jazz Pharmaceuticals plc has a 1-year low of $106.61 and a 1-year high of $146.70. The company has a current ratio of 2.24, a quick ratio of 1.85 and a debt-to-equity ratio of 1.37. The company has a market cap of $6.82 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.52 and a beta of 0.59.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Wednesday, February 28th. The specialty pharmaceutical company reported $4.40 earnings per share for the quarter, missing analysts’ consensus estimates of $4.44 by ($0.04). Jazz Pharmaceuticals had a return on equity of 31.27% and a net margin of 10.82%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. As a group, equities research analysts forecast that Jazz Pharmaceuticals plc will post 16.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Philip L. Johnson acquired 12,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was acquired at an average cost of $119.65 per share, for a total transaction of $1,435,800.00. Following the transaction, the chief financial officer now directly owns 27,932 shares in the company, valued at $3,342,063.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Jazz Pharmaceuticals news, CAO Patricia Carr sold 1,936 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $119.64, for a total value of $231,623.04. Following the completion of the transaction, the chief accounting officer now directly owns 8,364 shares in the company, valued at approximately $1,000,668.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Philip L. Johnson purchased 12,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $119.65 per share, with a total value of $1,435,800.00. Following the completion of the transaction, the chief financial officer now owns 27,932 shares in the company, valued at approximately $3,342,063.80. The disclosure for this purchase can be found here. 4.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on JAZZ. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Jazz Pharmaceuticals in a research note on Wednesday, March 20th. HC Wainwright reduced their target price on shares of Jazz Pharmaceuticals from $204.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, March 14th. Stifel Nicolaus lifted their target price on shares of Jazz Pharmaceuticals from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, March 15th. JPMorgan Chase & Co. lifted their target price on shares of Jazz Pharmaceuticals from $170.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Finally, StockNews.com raised shares of Jazz Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 30th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.08.

Jazz Pharmaceuticals 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.