Wellington Management Group LLP Decreases Stock Holdings in Jazz Pharmaceuticals PLC $JAZZ

Wellington Management Group LLP lessened its holdings in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 60.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,141 shares of the specialty pharmaceutical company’s stock after selling 278,873 shares during the quarter. Wellington Management Group LLP’s holdings in Jazz Pharmaceuticals were worth $43,168,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. USA Financial Formulas acquired a new position in shares of Jazz Pharmaceuticals during the 1st quarter worth about $25,000. LRI Investments LLC acquired a new stake in shares of Jazz Pharmaceuticals during the 4th quarter worth about $38,000. Danske Bank A S acquired a new stake in shares of Jazz Pharmaceuticals during the 3rd quarter worth about $40,000. Geneos Wealth Management Inc. lifted its stake in Jazz Pharmaceuticals by 57.6% during the first quarter. Geneos Wealth Management Inc. now owns 375 shares of the specialty pharmaceutical company’s stock worth $47,000 after purchasing an additional 137 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Jazz Pharmaceuticals by 1,383.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 356 shares of the specialty pharmaceutical company’s stock worth $47,000 after purchasing an additional 332 shares during the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Mark Smith sold 1,157 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $230.55, for a total transaction of $266,746.35. Following the completion of the sale, the director owned 9,680 shares in the company, valued at $2,231,724. This represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bruce Cozadd sold 6,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $252.98, for a total value of $1,517,880.00. Following the sale, the director directly owned 360,682 shares of the company’s stock, valued at approximately $91,245,332.36. This represents a 1.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 97,278 shares of company stock worth $24,213,596. 4.10% of the stock is currently owned by company insiders.

Jazz Pharmaceuticals Price Performance

Shares of JAZZ opened at $247.57 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.58 and a current ratio of 1.78. Jazz Pharmaceuticals PLC has a fifty-two week low of $123.88 and a fifty-two week high of $266.38. The firm has a 50-day simple moving average of $248.81 and a 200-day simple moving average of $220.96. The company has a market capitalization of $16.07 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 0.22 and a beta of 0.36.

Jazz Pharmaceuticals (NASDAQ:JAZZ) last issued its quarterly earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.18 by ($0.47). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. Jazz Pharmaceuticals had a net margin of 20.45% and a return on equity of 33.97%. The business’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm earned ($8.25) EPS. On average, equities research analysts anticipate that Jazz Pharmaceuticals PLC will post 21.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JAZZ. Bank of America upped their price target on Jazz Pharmaceuticals from $281.00 to $307.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Canaccord Genuity Group set a $300.00 price objective on shares of Jazz Pharmaceuticals in a research report on Wednesday, August 26th. UBS Group restated a “buy” rating and issued a $315.00 target price on shares of Jazz Pharmaceuticals in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Jazz Pharmaceuticals from $287.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Finally, Royal Bank Of Canada set a $299.00 price target on shares of Jazz Pharmaceuticals in a research note on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $285.44.

About Jazz Pharmaceuticals

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.