Convergence Investment Partners LLC Invests $1.03 Million in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Convergence Investment Partners LLC acquired a new stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,385 shares of the specialty pharmaceutical company’s stock, valued at approximately $1,033,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its position in shares of Jazz Pharmaceuticals by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 1,972 shares of the specialty pharmaceutical company’s stock valued at $243,000 after acquiring an additional 97 shares in the last quarter. UMB Bank n.a. lifted its holdings in Jazz Pharmaceuticals by 70.9% in the 4th quarter. UMB Bank n.a. now owns 311 shares of the specialty pharmaceutical company’s stock worth $38,000 after purchasing an additional 129 shares in the last quarter. Ellsworth Advisors LLC boosted its stake in Jazz Pharmaceuticals by 0.4% in the 4th quarter. Ellsworth Advisors LLC now owns 37,962 shares of the specialty pharmaceutical company’s stock worth $4,675,000 after purchasing an additional 149 shares during the period. Exchange Traded Concepts LLC grew its holdings in Jazz Pharmaceuticals by 2.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 7,045 shares of the specialty pharmaceutical company’s stock valued at $868,000 after buying an additional 155 shares in the last quarter. Finally, Cooper Financial Group raised its position in shares of Jazz Pharmaceuticals by 3.7% during the fourth quarter. Cooper Financial Group now owns 4,334 shares of the specialty pharmaceutical company’s stock valued at $534,000 after buying an additional 156 shares during the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Stock Performance

Shares of NASDAQ:JAZZ opened at $134.96 on Thursday. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46. Jazz Pharmaceuticals plc has a 12 month low of $99.06 and a 12 month high of $138.27. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.02 and a beta of 0.56. The firm’s 50-day moving average is $124.32 and its 200 day moving average is $117.68.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JAZZ. Wells Fargo & Company raised shares of Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $130.00 to $170.00 in a research note on Thursday, February 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $179.00 target price on shares of Jazz Pharmaceuticals in a report on Tuesday, December 10th. Piper Sandler reissued an “overweight” rating and set a $163.00 price target on shares of Jazz Pharmaceuticals in a research note on Thursday, December 12th. Morgan Stanley raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $140.00 to $175.00 in a research note on Thursday, December 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $207.00 target price on shares of Jazz Pharmaceuticals in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $180.33.

Insider Buying and Selling at Jazz Pharmaceuticals

In related news, CEO Bruce C. Cozadd sold 2,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $121.17, for a total transaction of $242,340.00. Following the completion of the transaction, the chief executive officer now owns 427,025 shares in the company, valued at $51,742,619.25. The trade was a 0.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 5,053 shares of company stock worth $617,442 over the last 90 days. Company insiders own 4.20% of the company’s stock.

Jazz Pharmaceuticals Company 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.