PNC Financial Services Group Inc. Sells 1,154 Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

PNC Financial Services Group Inc. cut its stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 24.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,653 shares of the specialty pharmaceutical company’s stock after selling 1,154 shares during the period. PNC Financial Services Group Inc.’s holdings in Jazz Pharmaceuticals were worth $449,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in JAZZ. Cape Investment Advisory Inc. raised its stake in Jazz Pharmaceuticals by 14,600.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 294 shares of the specialty pharmaceutical company’s stock valued at $36,000 after buying an additional 292 shares during the last quarter. Assetmark Inc. raised its stake in Jazz Pharmaceuticals by 37.1% during the 4th quarter. Assetmark Inc. now owns 440 shares of the specialty pharmaceutical company’s stock valued at $54,000 after buying an additional 119 shares during the last quarter. Headinvest LLC purchased a new stake in Jazz Pharmaceuticals during the 3rd quarter valued at $56,000. V Square Quantitative Management LLC raised its stake in Jazz Pharmaceuticals by 63.9% during the 4th quarter. V Square Quantitative Management LLC now owns 680 shares of the specialty pharmaceutical company’s stock valued at $84,000 after buying an additional 265 shares during the last quarter. Finally, AXS Investments LLC purchased a new stake in Jazz Pharmaceuticals during the 4th quarter valued at $183,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Stock Down 0.1 %

JAZZ opened at $107.10 on Friday. The firm has a 50-day simple moving average of $109.00 and a two-hundred day simple moving average of $116.87. Jazz Pharmaceuticals plc has a 52 week low of $103.01 and a 52 week high of $146.70. The company has a market capitalization of $6.75 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 1.66 and a beta of 0.62. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 1.38.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last released its quarterly earnings data on Wednesday, May 1st. The specialty pharmaceutical company reported $1.98 EPS for the quarter, missing the consensus estimate of $3.53 by ($1.55). Jazz Pharmaceuticals had a net margin of 8.61% and a return on equity of 27.86%. The company had revenue of $901.98 million for the quarter, compared to the consensus estimate of $938.99 million. Analysts forecast that Jazz Pharmaceuticals plc will post 15.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Jazz Pharmaceuticals

In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 5,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $109.65, for a total transaction of $548,250.00. Following the completion of the transaction, the executive vice president now owns 36,629 shares of the company’s stock, valued at approximately $4,016,369.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on JAZZ. StockNews.com upgraded shares of Jazz Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Stifel Nicolaus upped their price objective on Jazz Pharmaceuticals from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Truist Financial restated a “buy” rating and issued a $200.00 price objective on shares of Jazz Pharmaceuticals in a research note on Wednesday, March 20th. Barclays reduced their price objective on Jazz Pharmaceuticals from $230.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, Piper Sandler upped their price objective on Jazz Pharmaceuticals from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $190.00.

Jazz Pharmaceuticals Profile

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.