KLP Kapitalforvaltning AS Takes Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

KLP Kapitalforvaltning AS purchased a new position in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 17,000 shares of the specialty pharmaceutical company’s stock, valued at approximately $2,094,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JAZZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Jazz Pharmaceuticals by 135.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 174,078 shares of the specialty pharmaceutical company’s stock worth $19,394,000 after purchasing an additional 100,112 shares in the last quarter. Centre Asset Management LLC purchased a new position in Jazz Pharmaceuticals during the 4th quarter worth approximately $9,335,000. Moloney Securities Asset Management LLC acquired a new position in Jazz Pharmaceuticals during the fourth quarter worth approximately $464,000. Franklin Resources Inc. lifted its stake in Jazz Pharmaceuticals by 4.6% in the third quarter. Franklin Resources Inc. now owns 1,118,688 shares of the specialty pharmaceutical company’s stock valued at $124,208,000 after buying an additional 48,708 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Jazz Pharmaceuticals by 13.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 35,894 shares of the specialty pharmaceutical company’s stock valued at $4,420,000 after acquiring an additional 4,332 shares during the period. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Stock Down 3.4 %

JAZZ stock opened at $126.40 on Friday. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46. The company’s 50-day moving average price is $132.27 and its 200 day moving average price is $122.32. Jazz Pharmaceuticals plc has a 52 week low of $99.06 and a 52 week high of $148.06. The company has a market cap of $7.68 billion, a P/E ratio of 17.80, a P/E/G ratio of 1.04 and a beta of 0.44.

Analyst Ratings Changes

JAZZ has been the topic of a number of recent research reports. UBS Group raised shares of Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $179.00 in a report on Friday, March 7th. Needham & Company LLC restated a “buy” rating and issued a $210.00 price objective on shares of Jazz Pharmaceuticals in a research note on Wednesday, March 5th. HC Wainwright increased their target price on shares of Jazz Pharmaceuticals from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Truist Financial raised their price target on Jazz Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $183.00 price objective (up from $175.00) on shares of Jazz Pharmaceuticals in a research note on Friday, March 7th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Jazz Pharmaceuticals currently has an average rating of “Buy” and an average price target of $187.71.

Insider Activity

In related news, CMO Robert Iannone sold 7,080 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $138.60, for a total value of $981,288.00. Following the completion of the transaction, the chief marketing officer now directly owns 82,024 shares of the company’s stock, valued at $11,368,526.40. This trade represents a 7.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Patricia Carr sold 4,813 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $144.42, for a total value of $695,093.46. Following the sale, the chief accounting officer now owns 8,237 shares in the company, valued at approximately $1,189,587.54. The trade was a 36.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,736 shares of company stock worth $4,022,825. Company insiders own 4.20% of the company’s stock.

About Jazz Pharmaceuticals

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.