Bank of New York Mellon Corp Reduces Stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Bank of New York Mellon Corp trimmed its stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 8.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 512,813 shares of the specialty pharmaceutical company’s stock after selling 47,982 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.81% of Jazz Pharmaceuticals worth $54,732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Jazz Pharmaceuticals by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 6,448,689 shares of the specialty pharmaceutical company’s stock valued at $776,551,000 after buying an additional 84,941 shares in the last quarter. LSV Asset Management lifted its stake in shares of Jazz Pharmaceuticals by 1.6% during the 1st quarter. LSV Asset Management now owns 2,380,858 shares of the specialty pharmaceutical company’s stock valued at $286,703,000 after buying an additional 37,631 shares in the last quarter. Polaris Capital Management LLC lifted its stake in shares of Jazz Pharmaceuticals by 13.0% during the 1st quarter. Polaris Capital Management LLC now owns 1,432,660 shares of the specialty pharmaceutical company’s stock valued at $172,521,000 after buying an additional 165,200 shares in the last quarter. Capital World Investors purchased a new stake in shares of Jazz Pharmaceuticals during the 1st quarter valued at approximately $171,943,000. Finally, Swedbank AB purchased a new stake in shares of Jazz Pharmaceuticals during the 2nd quarter valued at approximately $106,936,000. 89.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JAZZ. Wells Fargo & Company dropped their price target on shares of Jazz Pharmaceuticals from $140.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $140.00 price target on shares of Jazz Pharmaceuticals in a report on Thursday, August 1st. The Goldman Sachs Group initiated coverage on shares of Jazz Pharmaceuticals in a report on Wednesday, June 5th. They issued a “buy” rating and a $169.00 price target on the stock. Needham & Company LLC decreased their price target on shares of Jazz Pharmaceuticals from $208.00 to $205.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, StockNews.com raised shares of Jazz Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Jazz Pharmaceuticals Stock Up 0.3 %

JAZZ opened at $115.98 on Friday. The stock has a market cap of $7.31 billion, a PE ratio of 23.91, a P/E/G ratio of 1.76 and a beta of 0.58. The company has a quick ratio of 1.90, a current ratio of 2.37 and a debt-to-equity ratio of 1.36. Jazz Pharmaceuticals plc has a 52 week low of $99.06 and a 52 week high of $146.70. The business’s fifty day simple moving average is $109.54 and its 200 day simple moving average is $112.79.

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.