Sumitomo Mitsui Asset Management Company LTD Cuts Stake in Jazz Pharmaceuticals PLC (JAZZ)

Sumitomo Mitsui Asset Management Company LTD lowered its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 12.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,293 shares of the specialty pharmaceutical company’s stock after selling 617 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Jazz Pharmaceuticals PLC were worth $667,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE increased its stake in shares of Jazz Pharmaceuticals PLC by 94.4% in the second quarter. US Bancorp DE now owns 758 shares of the specialty pharmaceutical company’s stock valued at $118,000 after buying an additional 368 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Jazz Pharmaceuticals PLC by 43.0% in the first quarter. Envestnet Asset Management Inc. now owns 981 shares of the specialty pharmaceutical company’s stock valued at $141,000 after buying an additional 295 shares in the last quarter. World Asset Management Inc acquired a new stake in shares of Jazz Pharmaceuticals PLC during the first quarter valued at about $205,000. Private Advisor Group LLC acquired a new stake in shares of Jazz Pharmaceuticals PLC during the first quarter valued at about $215,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Jazz Pharmaceuticals PLC by 2.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 1,601 shares of the specialty pharmaceutical company’s stock worth $217,000 after buying an additional 44 shares during the last quarter. Institutional investors and hedge funds own 87.22% of the company’s stock.

Shares of Jazz Pharmaceuticals PLC (NASDAQ JAZZ) traded down 1.10% during trading on Friday, hitting $144.40. 1,596,250 shares of the stock traded hands. Jazz Pharmaceuticals PLC has a 1-year low of $95.80 and a 1-year high of $163.75. The firm has a 50-day moving average of $153.33 and a 200-day moving average of $147.61. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of 22.24 and a beta of 1.10.

Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) last posted its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported $1.72 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by $0.13. The company had revenue of $394.39 million during the quarter, compared to analyst estimates of $410.83 million. Jazz Pharmaceuticals PLC had a return on equity of 22.75% and a net margin of 25.69%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.67 earnings per share. On average, equities analysts forecast that Jazz Pharmaceuticals PLC will post $10.87 earnings per share for the current year.

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JAZZ has been the topic of a number of recent research reports. Wells Fargo & Company reaffirmed an “outperform” rating and set a $177.00 price objective (down from $178.00) on shares of Jazz Pharmaceuticals PLC in a report on Thursday, August 10th. BidaskClub downgraded Jazz Pharmaceuticals PLC from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Zacks Investment Research cut shares of Jazz Pharmaceuticals PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Piper Jaffray Companies reiterated an “overweight” rating and issued a $182.00 target price on shares of Jazz Pharmaceuticals PLC in a research note on Wednesday, June 7th. Finally, Vetr upgraded shares of Jazz Pharmaceuticals PLC from a “hold” rating to a “buy” rating and set a $151.11 target price for the company in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company. Jazz Pharmaceuticals PLC currently has a consensus rating of “Buy” and a consensus price target of $182.72.

In other news, EVP Suzanne Sawochka Hooper sold 420 shares of Jazz Pharmaceuticals PLC stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $160.00, for a total transaction of $67,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Patrick Miller sold 200 shares of Jazz Pharmaceuticals PLC stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $154.97, for a total transaction of $30,994.00. The disclosure for this sale can be found here. Insiders sold 12,566 shares of company stock valued at $1,921,138 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

About Jazz Pharmaceuticals PLC

Jazz Pharmaceuticals, Inc is a specialty pharmaceutical company focusing on the development and commercialization of pharmaceutical products to meet unmet medical needs in neurology and psychiatry. As of December 31, 2009, the Company markets two products: Xyrem (sodium oxybate) for the treatment of both cataplexy and excessive daytime sleepiness in patients with narcolepsy; and Luvox CR (fluvoxamine maleate) for the treatment of both obsessive compulsive disorder and social anxiety disorder.

Institutional Ownership by Quarter for Jazz Pharmaceuticals PLC (NASDAQ:JAZZ)

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