Kovack Advisors Inc. Trims Position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Kovack Advisors Inc. lessened its stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,866 shares of the specialty pharmaceutical company’s stock after selling 2,806 shares during the period. Kovack Advisors Inc.’s holdings in Jazz Pharmaceuticals were worth $6,757,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in Jazz Pharmaceuticals by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 477,751 shares of the specialty pharmaceutical company’s stock valued at $58,835,000 after purchasing an additional 24,481 shares during the period. IFP Advisors Inc purchased a new position in Jazz Pharmaceuticals during the 4th quarter valued at about $25,000. Waterfront Wealth Inc. increased its position in Jazz Pharmaceuticals by 1.4% during the 4th quarter. Waterfront Wealth Inc. now owns 9,675 shares of the specialty pharmaceutical company’s stock valued at $1,191,000 after purchasing an additional 137 shares during the period. Convergence Investment Partners LLC bought a new stake in shares of Jazz Pharmaceuticals in the 4th quarter valued at about $1,033,000. Finally, Cardinal Capital Management grew its position in shares of Jazz Pharmaceuticals by 5.1% in the 4th quarter. Cardinal Capital Management now owns 13,140 shares of the specialty pharmaceutical company’s stock worth $1,618,000 after buying an additional 641 shares during the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Jazz Pharmaceuticals Price Performance

Shares of NASDAQ JAZZ opened at $144.17 on Thursday. The firm has a 50-day simple moving average of $125.42 and a 200-day simple moving average of $118.44. The stock has a market capitalization of $8.72 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56. The company has a quick ratio of 3.74, a current ratio of 4.26 and a debt-to-equity ratio of 1.46. Jazz Pharmaceuticals plc has a 52 week low of $99.06 and a 52 week high of $148.06.

Insider Activity at Jazz Pharmaceuticals

In related news, CEO Bruce C. Cozadd sold 1,500 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $123.43, for a total value of $185,145.00. Following the completion of the sale, the chief executive officer now owns 425,525 shares of the company’s stock, valued at approximately $52,522,550.75. This represents a 0.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 5,053 shares of company stock valued at $617,442. 4.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JAZZ. TD Cowen cut their price objective on shares of Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Royal Bank of Canada dropped their target price on shares of Jazz Pharmaceuticals from $179.00 to $178.00 and set an “outperform” rating on the stock in a research report on Wednesday. Needham & Company LLC boosted their target price on shares of Jazz Pharmaceuticals from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $176.00 target price (up previously from $163.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday. Finally, HC Wainwright reissued a “buy” rating and set a $200.00 target price on shares of Jazz Pharmaceuticals in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $182.47.

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.