Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Shares Sold by Royal Bank of Canada

Posted by Defense World Staff on Mar 9th, 2023

Royal Bank of Canada decreased its stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ – Get Rating) by 23.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,144 shares of the specialty pharmaceutical company’s stock after selling 27,767 shares during the period. Royal Bank of Canada owned approximately 0.14% of Jazz Pharmaceuticals worth $12,149,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. TD Asset Management Inc. increased its holdings in Jazz Pharmaceuticals by 2.5% during the 3rd quarter. TD Asset Management Inc. now owns 4,949 shares of the specialty pharmaceutical company’s stock valued at $655,000 after acquiring an additional 122 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Jazz Pharmaceuticals by 7.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 49,688 shares of the specialty pharmaceutical company’s stock valued at $6,623,000 after acquiring an additional 3,566 shares in the last quarter. Prudential Financial Inc. increased its holdings in Jazz Pharmaceuticals by 3,731.5% during the 3rd quarter. Prudential Financial Inc. now owns 311,383 shares of the specialty pharmaceutical company’s stock valued at $41,503,000 after acquiring an additional 303,256 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Jazz Pharmaceuticals by 15.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 6,431 shares of the specialty pharmaceutical company’s stock valued at $857,000 after acquiring an additional 841 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Jazz Pharmaceuticals by 82,332.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 23,081 shares of the specialty pharmaceutical company’s stock valued at $3,075,000 after acquiring an additional 23,053 shares in the last quarter. Institutional investors and hedge funds own 89.79% of the company’s stock.

Jazz Pharmaceuticals Trading Up 0.6 %

NASDAQ JAZZ opened at $139.83 on Thursday. The company’s fifty day simple moving average is $151.76 and its 200-day simple moving average is $148.39. Jazz Pharmaceuticals plc has a 52 week low of $125.36 and a 52 week high of $169.98. The company has a current ratio of 2.79, a quick ratio of 2.03 and a debt-to-equity ratio of 1.85. The stock has a market cap of $8.86 billion, a P/E ratio of -39.39, a PEG ratio of 0.82 and a beta of 0.73.

Insider Transactions at Jazz Pharmaceuticals

In other news, CFO Renee D. Gala sold 2,635 shares of the business’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $160.00, for a total transaction of $421,600.00. Following the transaction, the chief financial officer now directly owns 32,558 shares of the company’s stock, valued at $5,209,280. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Patricia Carr sold 1,148 shares of Jazz Pharmaceuticals stock in a transaction on Sunday, March 5th. The shares were sold at an average price of $140.76, for a total value of $161,592.48. Following the completion of the sale, the chief accounting officer now owns 7,309 shares in the company, valued at $1,028,814.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Renee D. Gala sold 2,635 shares of Jazz Pharmaceuticals stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $160.00, for a total transaction of $421,600.00. Following the completion of the sale, the chief financial officer now owns 32,558 shares of the company’s stock, valued at approximately $5,209,280. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,395 shares of company stock valued at $1,910,816. Corporate insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on JAZZ. StockNews.com downgraded shares of Jazz Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada lifted their price target on shares of Jazz Pharmaceuticals from $206.00 to $207.00 and gave the stock an “outperform” rating in a report on Thursday, November 10th. The Goldman Sachs Group lifted their price target on shares of Jazz Pharmaceuticals from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Friday, March 3rd. Needham & Company LLC lowered their price target on shares of Jazz Pharmaceuticals from $210.00 to $205.00 and set a “buy” rating for the company in a report on Thursday, March 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $204.00 target price on shares of Jazz Pharmaceuticals in a report on Monday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Jazz Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $204.27.

Jazz Pharmaceuticals Company Profile

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Jazz Pharmaceuticals Plc operates as a biopharmaceutical company, which focuses on the identification, development and commercialization of pharmaceutical products in the areas of narcolepsy, oncology, pain and psychiatry. Its product portfolio includes: Xyrem, Xywav, Sunosi, Erwinaze, Vyxeos, Defitelio, and Zepzelca.