Meritage Portfolio Management Raises Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Meritage Portfolio Management grew its stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,039 shares of the specialty pharmaceutical company’s stock after purchasing an additional 4,727 shares during the period. Meritage Portfolio Management’s holdings in Jazz Pharmaceuticals were worth $10,460,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JAZZ. Los Angeles Capital Management LLC raised its position in Jazz Pharmaceuticals by 558.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 322,775 shares of the specialty pharmaceutical company’s stock worth $41,780,000 after purchasing an additional 273,764 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Jazz Pharmaceuticals by 28.1% in the fourth quarter. Pacer Advisors Inc. now owns 1,023,706 shares of the specialty pharmaceutical company’s stock worth $125,916,000 after buying an additional 224,865 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in shares of Jazz Pharmaceuticals by 242.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 270,574 shares of the specialty pharmaceutical company’s stock worth $35,023,000 after acquiring an additional 191,648 shares during the last quarter. Aristotle Capital Management LLC purchased a new position in Jazz Pharmaceuticals during the 3rd quarter valued at $22,748,000. Finally, Federated Hermes Inc. grew its position in Jazz Pharmaceuticals by 1,105.6% in the 3rd quarter. Federated Hermes Inc. now owns 123,635 shares of the specialty pharmaceutical company’s stock valued at $16,003,000 after acquiring an additional 113,380 shares during the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Stock Performance

Shares of NASDAQ:JAZZ traded up $2.75 on Friday, hitting $110.18. 245,151 shares of the company were exchanged, compared to its average volume of 600,792. The firm has a market capitalization of $6.94 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 1.50 and a beta of 0.59. The company has a current ratio of 2.24, a quick ratio of 1.85 and a debt-to-equity ratio of 1.37. Jazz Pharmaceuticals plc has a 1-year low of $106.61 and a 1-year high of $146.70. The stock’s 50 day moving average price is $118.60 and its 200 day moving average price is $121.94.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Wednesday, February 28th. The specialty pharmaceutical company reported $4.40 EPS for the quarter, missing analysts’ consensus estimates of $4.44 by ($0.04). The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.01 billion. Jazz Pharmaceuticals had a return on equity of 31.27% and a net margin of 10.82%. Sell-side analysts predict that Jazz Pharmaceuticals plc will post 16.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $220.00 target price on shares of Jazz Pharmaceuticals in a research report on Wednesday, March 20th. Piper Sandler upped their target price on Jazz Pharmaceuticals from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Cantor Fitzgerald restated an “overweight” rating and set a $180.00 price target on shares of Jazz Pharmaceuticals in a research note on Wednesday, April 10th. UBS Group lowered their price objective on shares of Jazz Pharmaceuticals from $135.00 to $131.00 and set a “neutral” rating for the company in a research note on Friday, March 1st. Finally, Truist Financial reiterated a “buy” rating and set a $200.00 price objective on shares of Jazz Pharmaceuticals in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.08.

Insider Activity at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, CFO Philip L. Johnson acquired 12,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were acquired at an average cost of $119.65 per share, with a total value of $1,435,800.00. Following the acquisition, the chief financial officer now directly owns 27,932 shares of the company’s stock, valued at $3,342,063.80. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Jazz Pharmaceuticals news, CFO Philip L. Johnson bought 12,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average cost of $119.65 per share, for a total transaction of $1,435,800.00. Following the completion of the transaction, the chief financial officer now directly owns 27,932 shares of the company’s stock, valued at approximately $3,342,063.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Patricia Carr sold 1,936 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $119.64, for a total transaction of $231,623.04. Following the completion of the sale, the chief accounting officer now directly owns 8,364 shares in the company, valued at $1,000,668.96. The disclosure for this sale can be found here. 4.40% of the stock is owned by insiders.

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.