Wedge Capital Management L L P NC Has $32.11 Million Position in Jazz Pharmaceuticals PLC $JAZZ

Wedge Capital Management L L P NC lowered its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 10.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,878 shares of the specialty pharmaceutical company’s stock after selling 22,307 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Jazz Pharmaceuticals were worth $32,109,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in JAZZ. Exchange Traded Concepts LLC acquired a new stake in shares of Jazz Pharmaceuticals in the fourth quarter valued at approximately $193,000. Fort Washington Investment Advisors Inc. OH bought a new stake in Jazz Pharmaceuticals in the 4th quarter valued at about $204,000. SG Americas Securities LLC grew its position in shares of Jazz Pharmaceuticals by 2,969.1% during the 4th quarter. SG Americas Securities LLC now owns 136,024 shares of the specialty pharmaceutical company’s stock worth $23,124,000 after purchasing an additional 131,592 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Jazz Pharmaceuticals by 51.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,357 shares of the specialty pharmaceutical company’s stock worth $1,562,000 after purchasing an additional 3,182 shares during the period. Finally, Hilltop National Bank bought a new position in shares of Jazz Pharmaceuticals during the fourth quarter worth approximately $36,000. Institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Trading Down 3.4%

NASDAQ JAZZ opened at $182.69 on Friday. The company has a quick ratio of 1.67, a current ratio of 1.86 and a debt-to-equity ratio of 1.00. Jazz Pharmaceuticals PLC has a 52 week low of $95.49 and a 52 week high of $198.00. The business has a 50 day moving average price of $175.63 and a 200-day moving average price of $159.83. The company has a market cap of $11.25 billion, a price-to-earnings ratio of -30.60, a P/E/G ratio of 0.34 and a beta of 0.22.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last posted its quarterly earnings results on Wednesday, February 25th. The specialty pharmaceutical company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.49 by $0.15. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. Jazz Pharmaceuticals had a negative net margin of 8.35% and a positive return on equity of 6.87%. Jazz Pharmaceuticals’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $6.51 EPS. As a group, equities analysts expect that Jazz Pharmaceuticals PLC will post 16.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America increased their price target on shares of Jazz Pharmaceuticals from $263.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Needham & Company LLC raised their price objective on Jazz Pharmaceuticals from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Piper Sandler boosted their target price on Jazz Pharmaceuticals from $219.00 to $232.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. TD Cowen reissued a “buy” rating on shares of Jazz Pharmaceuticals in a report on Thursday, January 29th. Finally, Wells Fargo & Company raised their price target on shares of Jazz Pharmaceuticals from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Jazz Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $215.38.

Insider Activity

In other Jazz Pharmaceuticals news, SVP Mary Elizabeth Henderson sold 5,343 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $194.49, for a total value of $1,039,160.07. Following the transaction, the senior vice president owned 28,728 shares of the company’s stock, valued at approximately $5,587,308.72. The trade was a 15.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Patricia Carr sold 1,287 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $182.94, for a total value of $235,443.78. Following the transaction, the chief accounting officer directly owned 6,512 shares of the company’s stock, valued at approximately $1,191,305.28. This trade represents a 16.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 68,015 shares of company stock valued at $13,037,486 over the last ninety days. Company insiders own 4.30% of the company’s stock.

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.