Simplify Asset Management Inc. Sells 19,448 Shares of Jazz Pharmaceuticals PLC $JAZZ

Simplify Asset Management Inc. cut its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 27.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,730 shares of the specialty pharmaceutical company’s stock after selling 19,448 shares during the period. Jazz Pharmaceuticals comprises 0.2% of Simplify Asset Management Inc.’s holdings, making the stock its 19th largest holding. Simplify Asset Management Inc. owned approximately 0.08% of Jazz Pharmaceuticals worth $9,780,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vestal Point Capital LP purchased a new position in Jazz Pharmaceuticals in the second quarter worth about $127,344,000. Goldentree Asset Management LP purchased a new stake in Jazz Pharmaceuticals during the third quarter valued at approximately $149,597,000. Franklin Resources Inc. raised its position in Jazz Pharmaceuticals by 164.0% during the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock valued at $309,215,000 after purchasing an additional 1,129,995 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Jazz Pharmaceuticals by 160.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company’s stock valued at $197,516,000 after purchasing an additional 715,361 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Jazz Pharmaceuticals by 258.2% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock worth $93,160,000 after purchasing an additional 395,000 shares during the period. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Price Performance

Shares of JAZZ stock opened at $243.47 on Friday. Jazz Pharmaceuticals PLC has a 52-week low of $105.00 and a 52-week high of $243.81. 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 has a market capitalization of $15.29 billion, a P/E ratio of -12,167.42, a P/E/G ratio of 0.21 and a beta of 0.32. The stock has a 50 day moving average price of $228.38 and a 200 day moving average price of $195.25.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last announced its quarterly earnings data on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. Jazz Pharmaceuticals had a return on equity of 14.56% and a net margin of 0.66%.The company had revenue of $1.07 billion for the quarter. As a group, sell-side analysts predict that Jazz Pharmaceuticals PLC will post 22.09 earnings per share for the current year.

Insider Activity at Jazz Pharmaceuticals

In other news, Director Rick E. Winningham sold 2,741 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $241.57, for a total value of $662,143.37. Following the transaction, the director directly owned 9,567 shares in the company, valued at approximately $2,311,100.19. This represents a 22.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark Douglas Smith sold 1,157 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $230.55, for a total transaction of $266,746.35. Following the completion of the transaction, the director directly owned 9,680 shares in the company, valued at $2,231,724. This represents a 10.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,098 shares of company stock valued at $1,689,086 over the last ninety days. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on JAZZ. Weiss Ratings upgraded Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Jazz Pharmaceuticals in a research note on Tuesday, June 9th. TD Cowen boosted their price objective on shares of Jazz Pharmaceuticals from $220.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Bank of America increased their target price on shares of Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Finally, Robert W. Baird set a $252.00 target price on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $246.06.

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.