Corebridge Financial Inc. Sells 4,619 Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Corebridge Financial Inc. decreased its position in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,405 shares of the specialty pharmaceutical company’s stock after selling 4,619 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Jazz Pharmaceuticals worth $8,424,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in JAZZ. LPL Financial LLC grew its holdings in shares of Jazz Pharmaceuticals by 2.5% in the fourth quarter. LPL Financial LLC now owns 22,505 shares of the specialty pharmaceutical company’s stock worth $2,772,000 after purchasing an additional 553 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Jazz Pharmaceuticals in the fourth quarter valued at about $544,000. KLP Kapitalforvaltning AS bought a new position in shares of Jazz Pharmaceuticals during the 4th quarter worth approximately $2,094,000. Hillsdale Investment Management Inc. increased its position in shares of Jazz Pharmaceuticals by 4.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 6,940 shares of the specialty pharmaceutical company’s stock worth $855,000 after purchasing an additional 300 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Jazz Pharmaceuticals by 55.7% during the 4th quarter. American Century Companies Inc. now owns 160,412 shares of the specialty pharmaceutical company’s stock valued at $19,755,000 after buying an additional 57,406 shares in the last quarter. 89.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on JAZZ. Royal Bank of Canada cut their price target on shares of Jazz Pharmaceuticals from $179.00 to $178.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on Jazz Pharmaceuticals from $200.00 to $209.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Cantor Fitzgerald cut shares of Jazz Pharmaceuticals from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $140.00 to $150.00 in a report on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and set a $176.00 target price (up from $163.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Jazz Pharmaceuticals in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Jazz Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $187.71.

Jazz Pharmaceuticals Stock Down 3.4 %

Shares of NASDAQ JAZZ opened at $126.40 on Friday. Jazz Pharmaceuticals plc has a 1 year low of $99.06 and a 1 year high of $148.06. The company has a market capitalization of $7.68 billion, a P/E ratio of 17.80, a P/E/G ratio of 1.04 and a beta of 0.44. The company has a 50 day simple moving average of $132.27 and a 200-day simple moving average of $122.32. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74.

Insiders Place Their Bets

In other news, CMO Robert Iannone sold 2,403 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $138.41, for a total value of $332,599.23. Following the transaction, the chief marketing officer now directly owns 79,621 shares in the company, valued at approximately $11,020,342.61. This represents a 2.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Bruce C. Cozadd sold 1,500 shares of Jazz Pharmaceuticals stock in a transaction on 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 directly owns 425,525 shares of the company’s stock, valued at $52,522,550.75. The trade was a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,736 shares of company stock valued at $4,022,825 over the last quarter. 4.20% of the stock is 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.