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

Principal Financial Group Inc. lowered its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 134,638 shares of the specialty pharmaceutical company’s stock after selling 5,015 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of Jazz Pharmaceuticals worth $17,745,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its position in shares of Jazz Pharmaceuticals by 754.8% in the third quarter. Farther Finance Advisors LLC now owns 265 shares of the specialty pharmaceutical company’s stock valued at $35,000 after purchasing an additional 234 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Jazz Pharmaceuticals by 471.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 360 shares of the specialty pharmaceutical company’s stock valued at $38,000 after buying an additional 297 shares in the last quarter. Quent Capital LLC purchased a new position in Jazz Pharmaceuticals during the 3rd quarter valued at about $44,000. Geneos Wealth Management Inc. increased its position in shares of Jazz Pharmaceuticals by 57.6% during the first 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. Finally, GAMMA Investing LLC lifted its holdings in shares of Jazz Pharmaceuticals by 30.7% in the third quarter. GAMMA Investing LLC now owns 655 shares of the specialty pharmaceutical company’s stock worth $86,000 after buying an additional 154 shares in the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Stock Up 1.4%

Shares of NASDAQ:JAZZ opened at $165.50 on Monday. The firm has a market capitalization of $10.06 billion, a PE ratio of -27.27, a price-to-earnings-growth ratio of 0.89 and a beta of 0.26. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.44 and a current ratio of 1.65. Jazz Pharmaceuticals PLC has a 52-week low of $95.49 and a 52-week high of $182.99. The firm has a fifty day moving average of $167.86 and a 200 day moving average of $145.72.

Insider Activity at Jazz Pharmaceuticals

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on JAZZ shares. Piper Sandler reaffirmed an “overweight” rating and set a $219.00 price objective (up previously from $147.00) on shares of Jazz Pharmaceuticals in a research note on Wednesday, December 10th. Wall Street Zen raised shares of Jazz Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 8th. Needham & Company LLC upped their price target on shares of Jazz Pharmaceuticals from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 12th. JPMorgan Chase & Co. dropped their price objective on Jazz Pharmaceuticals from $204.00 to $199.00 and set an “overweight” rating for the company in a research note on Monday, October 27th. Finally, TD Cowen restated a “buy” rating on shares of Jazz Pharmaceuticals in a research report on Thursday, January 29th. Fourteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.67.

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.