Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Stake Lowered by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,914 shares of the specialty pharmaceutical company’s stock after selling 1,242 shares during the period. MetLife Investment Management LLC’s holdings in Jazz Pharmaceuticals were worth $3,556,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Swedbank AB acquired a new stake in shares of Jazz Pharmaceuticals in the 2nd quarter valued at $106,936,000. Rubric Capital Management LP acquired a new stake in shares of Jazz Pharmaceuticals in the 2nd quarter valued at $65,812,000. Pacer Advisors Inc. lifted its stake in shares of Jazz Pharmaceuticals by 40.7% in the 2nd quarter. Pacer Advisors Inc. now owns 1,820,913 shares of the specialty pharmaceutical company’s stock valued at $194,346,000 after purchasing an additional 527,187 shares during the last quarter. Baupost Group LLC MA lifted its stake in shares of Jazz Pharmaceuticals by 52.8% in the 2nd quarter. Baupost Group LLC MA now owns 1,274,248 shares of the specialty pharmaceutical company’s stock valued at $136,000,000 after purchasing an additional 440,552 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Jazz Pharmaceuticals by 1,808.4% in the 2nd quarter. Millennium Management LLC now owns 450,872 shares of the specialty pharmaceutical company’s stock valued at $48,122,000 after purchasing an additional 427,246 shares during the last quarter. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Mary Elizabeth Henderson sold 1,410 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $108.30, for a total value of $152,703.00. Following the completion of the transaction, the senior vice president now owns 14,531 shares of the company’s stock, valued at $1,573,707.30. This represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Neena M. Patil sold 3,700 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $123.41, for a total transaction of $456,617.00. Following the completion of the transaction, the executive vice president now directly owns 33,048 shares of the company’s stock, valued at $4,078,453.68. This trade represents a 10.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,110 shares of company stock valued at $720,160 over the last quarter. Corporate insiders own 4.20% of the company’s stock.

Jazz Pharmaceuticals Stock Performance

NASDAQ:JAZZ opened at $121.64 on Wednesday. The firm’s 50-day moving average is $115.38 and its 200-day moving average is $111.29. Jazz Pharmaceuticals plc has a 52-week low of $99.06 and a 52-week high of $134.17. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.03 and a beta of 0.57.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JAZZ. Royal Bank of Canada lifted their price objective on shares of Jazz Pharmaceuticals from $175.00 to $179.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals in a research note on Friday, November 22nd. Needham & Company LLC reissued a “buy” rating and set a $207.00 target price on shares of Jazz Pharmaceuticals in a research report on Thursday, November 21st. Piper Sandler reissued an “overweight” rating and set a $163.00 target price (down previously from $166.00) on shares of Jazz Pharmaceuticals in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Jazz Pharmaceuticals from $190.00 to $202.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.33.

Jazz Pharmaceuticals Company 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.