SEB Asset Management AB Purchases New Position in Jazz Pharmaceuticals PLC $JAZZ

SEB Asset Management AB acquired a new position in shares of Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 46,362 shares of the specialty pharmaceutical company’s stock, valued at approximately $8,765,000. SEB Asset Management AB owned approximately 0.07% of Jazz Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of JAZZ. Cardinal Capital Management lifted its holdings in shares of Jazz Pharmaceuticals by 0.5% in the fourth quarter. Cardinal Capital Management now owns 14,538 shares of the specialty pharmaceutical company’s stock valued at $2,471,000 after purchasing an additional 66 shares in the last quarter. Bessemer Group Inc. grew its holdings in Jazz Pharmaceuticals by 0.3% during the first quarter. Bessemer Group Inc. now owns 22,362 shares of the specialty pharmaceutical company’s stock worth $4,228,000 after buying an additional 73 shares in the last quarter. UMB Bank n.a. raised its position in Jazz Pharmaceuticals by 12.6% in the 4th quarter. UMB Bank n.a. now owns 725 shares of the specialty pharmaceutical company’s stock valued at $123,000 after buying an additional 81 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Jazz Pharmaceuticals by 0.7% in the 4th quarter. Pinnacle Associates Ltd. now owns 11,203 shares of the specialty pharmaceutical company’s stock valued at $1,905,000 after buying an additional 83 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in Jazz Pharmaceuticals by 4.4% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,996 shares of the specialty pharmaceutical company’s stock valued at $377,000 after acquiring an additional 85 shares in the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Stock Up 4.4%

Shares of NASDAQ:JAZZ opened at $254.22 on Wednesday. The company has a market capitalization of $15.97 billion, a PE ratio of -12,704.65, a price-to-earnings-growth ratio of 0.21 and a beta of 0.32. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The business has a fifty day moving average price of $236.03 and a two-hundred day moving average price of $201.74. Jazz Pharmaceuticals PLC has a 1 year low of $105.00 and a 1 year high of $255.20.

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

Insiders Place Their Bets

In other news, Director Heather Ann Mcsharry sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $241.00, for a total transaction of $482,000.00. Following the completion of the sale, the director owned 18,449 shares in the company, valued at $4,446,209. This trade represents a 9.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark Douglas Smith sold 1,157 shares of Jazz Pharmaceuticals stock in a transaction that occurred on 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 sale, the director directly owned 9,680 shares in the company, valued at $2,231,724. This trade 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. In the last quarter, insiders have sold 13,098 shares of company stock valued at $3,131,906. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on JAZZ shares. Leerink Partners lifted their price objective on shares of Jazz Pharmaceuticals from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Needham & Company LLC increased their target price on shares of Jazz Pharmaceuticals from $255.00 to $282.00 and gave the company a “buy” rating in a report on Monday. Canaccord Genuity Group began coverage on shares of Jazz Pharmaceuticals in a research report on Thursday, July 16th. They set a “buy” rating and a $290.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Jazz Pharmaceuticals from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Finally, Wells Fargo & Company upped their price objective on shares of Jazz Pharmaceuticals from $265.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $259.06.

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.