Highland Capital Management LLC Lowers Stock Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Highland Capital Management LLC cut its position in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,450 shares of the specialty pharmaceutical company’s stock after selling 1,540 shares during the quarter. Highland Capital Management LLC’s holdings in Jazz Pharmaceuticals were worth $3,170,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in shares of Jazz Pharmaceuticals by 13,450.0% in the 2nd quarter. Versant Capital Management Inc now owns 271 shares of the specialty pharmaceutical company’s stock worth $29,000 after buying an additional 269 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Jazz Pharmaceuticals in the second quarter worth $29,000. EverSource Wealth Advisors LLC grew its stake in Jazz Pharmaceuticals by 55.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 273 shares of the specialty pharmaceutical company’s stock valued at $30,000 after purchasing an additional 97 shares during the period. GAMMA Investing LLC increased its position in shares of Jazz Pharmaceuticals by 65.5% during the 2nd quarter. GAMMA Investing LLC now owns 293 shares of the specialty pharmaceutical company’s stock valued at $31,000 after purchasing an additional 116 shares during the last quarter. Finally, Gladius Capital Management LP bought a new stake in shares of Jazz Pharmaceuticals during the 2nd quarter worth $33,000. 89.14% of the stock is owned by institutional investors.

Insider Buying and Selling at Jazz Pharmaceuticals

In other news, SVP Mary Elizabeth Henderson sold 1,410 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $108.30, for a total transaction 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 approximately $1,573,707.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Jazz Pharmaceuticals from $175.00 to $179.00 and gave the company an “outperform” rating in a research report on Wednesday. HC Wainwright restated a “buy” rating and set a $200.00 price target on shares of Jazz Pharmaceuticals in a research note on Thursday, August 1st. UBS Group dropped their price objective on Jazz Pharmaceuticals from $117.00 to $113.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Needham & Company LLC reissued a “buy” rating and issued a $205.00 target price on shares of Jazz Pharmaceuticals in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $140.00 price target on shares of Jazz Pharmaceuticals in a research report on Monday, September 9th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $173.43.

Jazz Pharmaceuticals Price Performance

JAZZ stock opened at $109.55 on Friday. The firm has a 50 day moving average of $110.98 and a 200-day moving average of $109.57. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $6.76 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 1.41 and a beta of 0.57. Jazz Pharmaceuticals plc has a 12 month low of $99.06 and a 12 month high of $134.48.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings results on Wednesday, July 31st. The specialty pharmaceutical company reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.87. Jazz Pharmaceuticals had a net margin of 10.10% and a return on equity of 28.65%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. As a group, sell-side analysts predict that Jazz Pharmaceuticals plc will post 16.06 earnings per share for the current fiscal year.

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.