State of Michigan Retirement System Lowers Stock Holdings in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

State of Michigan Retirement System cut its stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,304 shares of the specialty pharmaceutical company’s stock after selling 400 shares during the period. State of Michigan Retirement System’s holdings in Jazz Pharmaceuticals were worth $1,762,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its holdings in shares of Jazz Pharmaceuticals by 75.1% during the fourth quarter. Jones Financial Companies Lllp now owns 303 shares of the specialty pharmaceutical company’s stock worth $37,000 after purchasing an additional 130 shares during the period. GW&K Investment Management LLC raised its position in Jazz Pharmaceuticals by 26.6% during the 4th quarter. GW&K Investment Management LLC now owns 464,003 shares of the specialty pharmaceutical company’s stock worth $57,142,000 after buying an additional 97,589 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Jazz Pharmaceuticals in the 4th quarter worth $4,762,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Jazz Pharmaceuticals by 24.2% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 9,588 shares of the specialty pharmaceutical company’s stock valued at $1,181,000 after acquiring an additional 1,867 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Jazz Pharmaceuticals by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 477,751 shares of the specialty pharmaceutical company’s stock worth $58,835,000 after acquiring an additional 24,481 shares during the period. 89.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Neena M. Patil sold 3,800 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $144.87, for a total transaction of $550,506.00. Following the transaction, the executive vice president now owns 33,318 shares of the company’s stock, valued at approximately $4,826,778.66. This represents a 10.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bruce C. Cozadd sold 1,500 shares of Jazz Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $122.31, for a total transaction of $183,465.00. Following the completion of the sale, the chief executive officer now directly owns 439,744 shares of the company’s stock, valued at $53,785,088.64. The trade was a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,193 shares of company stock worth $3,533,122 over the last three months. 4.20% of the stock is currently owned by corporate insiders.

Jazz Pharmaceuticals Price Performance

JAZZ stock opened at $138.81 on Friday. 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 stock’s 50 day moving average price is $128.14 and its 200 day moving average price is $120.03. The firm has a market cap of $8.43 billion, a P/E ratio of 19.55, a PEG ratio of 1.04 and a beta of 0.44. Jazz Pharmaceuticals plc has a 1 year low of $99.06 and a 1 year high of $148.06.

Wall Street Analyst Weigh In

JAZZ has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Barclays restated an “overweight” rating and issued a $200.00 price target (up from $190.00) on shares of Jazz Pharmaceuticals in a research note on Thursday, February 27th. Piper Sandler reiterated an “overweight” rating and issued a $176.00 price objective (up previously from $163.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their target price on shares of Jazz Pharmaceuticals from $200.00 to $209.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, UBS Group upgraded shares of Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $179.00 in a report on Friday. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $189.40.

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.