Brandywine Global Investment Management LLC Cuts Stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Brandywine Global Investment Management LLC lessened its stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 381,730 shares of the specialty pharmaceutical company’s stock after selling 1,390 shares during the period. Brandywine Global Investment Management LLC’s holdings in Jazz Pharmaceuticals were worth $47,010,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in Jazz Pharmaceuticals by 8.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 531,710 shares of the specialty pharmaceutical company’s stock worth $59,238,000 after purchasing an additional 42,587 shares during the period. Cerity Partners LLC grew its stake in Jazz Pharmaceuticals by 128.4% in the 3rd quarter. Cerity Partners LLC now owns 32,757 shares of the specialty pharmaceutical company’s stock valued at $3,650,000 after buying an additional 18,414 shares in the last quarter. Townsquare Capital LLC purchased a new stake in shares of Jazz Pharmaceuticals during the third quarter worth $220,000. Fiduciary Trust Co boosted its holdings in shares of Jazz Pharmaceuticals by 49.6% in the third quarter. Fiduciary Trust Co now owns 6,770 shares of the specialty pharmaceutical company’s stock worth $754,000 after acquiring an additional 2,246 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Jazz Pharmaceuticals by 17.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,899 shares of the specialty pharmaceutical company’s stock valued at $1,326,000 after purchasing an additional 1,729 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.

Analyst Ratings Changes

JAZZ has been the subject of several analyst reports. Wells Fargo & Company upgraded Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $170.00 in a research note on Thursday, February 13th. Royal Bank of Canada reduced their price objective on shares of Jazz Pharmaceuticals from $179.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $176.00 target price (up from $163.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright boosted their price target on shares of Jazz Pharmaceuticals from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, Barclays reiterated an “overweight” rating and issued a $200.00 price objective (up previously from $190.00) on shares of Jazz Pharmaceuticals in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $187.71.

Jazz Pharmaceuticals Price Performance

JAZZ stock opened at $122.92 on Friday. The firm has a market cap of $7.47 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.04 and a beta of 0.44. The firm’s fifty day moving average is $132.30 and its 200 day moving average is $122.54. Jazz Pharmaceuticals plc has a 52 week low of $99.06 and a 52 week high of $148.06. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26.

Insider Activity

In other news, CMO Robert Iannone sold 7,080 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $138.60, for a total value of $981,288.00. Following the transaction, the chief marketing officer now owns 82,024 shares in the company, valued at approximately $11,368,526.40. This trade represents a 7.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Patricia Carr sold 4,813 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $144.42, for a total transaction of $695,093.46. Following the sale, the chief accounting officer now owns 8,237 shares of the company’s stock, valued at $1,189,587.54. This represents a 36.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,736 shares of company stock valued at $4,022,825. 4.20% of the stock is currently 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.