Principal Financial Group Inc. Decreases Stock Position in Jazz Pharmaceuticals PLC $JAZZ

Principal Financial Group Inc. lessened its stake in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,638 shares of the specialty pharmaceutical company’s stock after selling 5,015 shares during the period. Principal Financial Group Inc.’s holdings in Jazz Pharmaceuticals were worth $17,745,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada lifted its position in Jazz Pharmaceuticals by 96.5% in the first quarter. Royal Bank of Canada now owns 67,614 shares of the specialty pharmaceutical company’s stock valued at $8,394,000 after purchasing an additional 33,210 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Jazz Pharmaceuticals by 147.7% in the first quarter. Goldman Sachs Group Inc. now owns 351,609 shares of the specialty pharmaceutical company’s stock worth $43,652,000 after purchasing an additional 209,667 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Jazz Pharmaceuticals by 4.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 197,174 shares of the specialty pharmaceutical company’s stock worth $24,479,000 after buying an additional 7,954 shares during the period. Focus Partners Wealth raised its holdings in Jazz Pharmaceuticals by 3.4% during the 1st quarter. Focus Partners Wealth now owns 4,623 shares of the specialty pharmaceutical company’s stock valued at $574,000 after buying an additional 154 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Jazz Pharmaceuticals by 57.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock valued at $47,000 after buying an additional 137 shares during the period. 89.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Patricia Carr sold 5,319 shares of Jazz Pharmaceuticals stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $182.06, for a total transaction of $968,377.14. Following the completion of the transaction, the chief accounting officer directly owned 7,012 shares of the company’s stock, valued at $1,276,604.72. This trade represents a 43.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert Iannone sold 7,159 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $168.26, for a total transaction of $1,204,573.34. Following the sale, the executive vice president directly owned 72,628 shares in the company, valued at $12,220,387.28. The trade was a 8.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 123,791 shares of company stock worth $21,991,850 over the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Jazz Pharmaceuticals Price Performance

Shares of JAZZ stock opened at $165.50 on Monday. The business’s fifty day moving average is $167.86 and its 200 day moving average is $145.72. The company has a quick ratio of 1.44, a current ratio of 1.65 and a debt-to-equity ratio of 1.09. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of -27.27, a PEG ratio of 0.89 and a beta of 0.26. Jazz Pharmaceuticals PLC has a twelve month low of $95.49 and a twelve month high of $182.99.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JAZZ. Morgan Stanley restated an “overweight” rating and issued a $225.00 price objective on shares of Jazz Pharmaceuticals in a research report on Thursday, January 8th. Wells Fargo & Company boosted their price target on Jazz Pharmaceuticals from $170.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Jazz Pharmaceuticals in a research report on Monday, December 29th. Robert W. Baird increased their price objective on Jazz Pharmaceuticals from $160.00 to $209.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Finally, Royal Bank Of Canada set a $194.00 target price on Jazz Pharmaceuticals and gave the company an “outperform” rating in a research note on Monday, November 17th. Fourteen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Jazz Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.67.

Jazz Pharmaceuticals Profile

Jazz Pharmaceuticals plc is a global biopharmaceutical company focused on developing and commercializing therapies in neuroscience and oncology. The company’s research and development efforts target unmet medical needs in sleep disorders, hematologic malignancies, rare neurological conditions and solid tumors. Jazz’s product portfolio includes therapies for narcolepsy, hepatic veno-occlusive disease, acute myeloid leukemia and other serious disorders.

Flagship products from Jazz Pharmaceuticals include Xyrem® (sodium oxybate) and Xywav® (calcium, magnesium, potassium, and sodium oxybates) for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.