Simplify Asset Management Inc. Sells 19,448 Shares of Jazz Pharmaceuticals PLC $JAZZ

Simplify Asset Management Inc. trimmed its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 27.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 51,730 shares of the specialty pharmaceutical company’s stock after selling 19,448 shares during the quarter. Jazz Pharmaceuticals makes up 0.2% of Simplify Asset Management Inc.’s portfolio, making the stock its 19th biggest position. Simplify Asset Management Inc.’s holdings in Jazz Pharmaceuticals were worth $9,780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vestal Point Capital LP purchased a new position in shares of Jazz Pharmaceuticals during the second quarter valued at $127,344,000. Goldentree Asset Management LP purchased a new stake in Jazz Pharmaceuticals in the third quarter worth about $149,597,000. Franklin Resources Inc. lifted its stake in Jazz Pharmaceuticals by 164.0% in the fourth quarter. Franklin Resources Inc. now owns 1,818,911 shares of the specialty pharmaceutical company’s stock worth $309,215,000 after acquiring an additional 1,129,995 shares during the period. Bank of New York Mellon Corp grew its holdings in Jazz Pharmaceuticals by 160.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,161,857 shares of the specialty pharmaceutical company’s stock worth $197,516,000 after acquiring an additional 715,361 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Jazz Pharmaceuticals by 258.2% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 548,000 shares of the specialty pharmaceutical company’s stock worth $93,160,000 after acquiring an additional 395,000 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Price Performance

JAZZ opened at $243.47 on Friday. The business’s 50-day moving average is $228.38 and its two-hundred day moving average is $195.25. Jazz Pharmaceuticals PLC has a 1 year low of $105.00 and a 1 year high of $243.81. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.04 and a quick ratio of 1.85. The firm has a market capitalization of $15.29 billion, a PE ratio of -12,167.42, a price-to-earnings-growth ratio of 0.21 and a beta of 0.32.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings results on Tuesday, March 31st. The specialty pharmaceutical company reported $6.34 EPS for the quarter. Jazz Pharmaceuticals had a net margin of 0.66% and a return on equity of 14.56%. The business had revenue of $1.07 billion during the quarter. Research analysts anticipate that Jazz Pharmaceuticals PLC will post 22.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Weiss Ratings raised shares of Jazz Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Truist Financial set a $256.00 price target on shares of Jazz Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Wells Fargo & Company increased their price objective on shares of Jazz Pharmaceuticals from $250.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Robert W. Baird set a $252.00 price objective on shares of Jazz Pharmaceuticals in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their price objective on shares of Jazz Pharmaceuticals from $195.00 to $258.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Sixteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $246.06.

Insider Activity

In other Jazz Pharmaceuticals news, Director Mark Douglas Smith sold 1,157 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $230.55, for a total value of $266,746.35. Following the completion of the sale, the director directly owned 9,680 shares in the company, valued at $2,231,724. This trade represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heather Ann Mcsharry sold 2,000 shares of Jazz Pharmaceuticals stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $241.00, for a total transaction of $482,000.00. Following the completion of the transaction, the director directly owned 18,449 shares in the company, valued at $4,446,209. This represents a 9.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 7,098 shares of company stock worth $1,689,086. Insiders own 4.10% of the company’s stock.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.