Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,663 shares of the specialty pharmaceutical company’s stock after selling 4,275 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Jazz Pharmaceuticals worth $17,076,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Philip James Wealth Mangement LLC increased its stake in shares of Jazz Pharmaceuticals by 43.0% in the 4th quarter. Philip James Wealth Mangement LLC now owns 10,659 shares of the specialty pharmaceutical company’s stock worth $1,313,000 after acquiring an additional 3,205 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Jazz Pharmaceuticals by 1.1% in the 4th quarter. Rhumbline Advisers now owns 167,560 shares of the specialty pharmaceutical company’s stock worth $20,635,000 after acquiring an additional 1,755 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Jazz Pharmaceuticals by 73.7% in the 4th quarter. Blue Trust Inc. now owns 1,767 shares of the specialty pharmaceutical company’s stock worth $218,000 after acquiring an additional 750 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Jazz Pharmaceuticals by 1.2% during the 4th quarter. New York State Teachers Retirement System now owns 43,847 shares of the specialty pharmaceutical company’s stock worth $5,400,000 after purchasing an additional 529 shares during the last quarter. Finally, Harvey Capital Management Inc. acquired a new stake in shares of Jazz Pharmaceuticals during the 4th quarter worth about $3,134,000. 89.14% of the stock is owned by institutional investors and hedge funds.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ opened at $139.67 on Wednesday. The stock has a 50-day simple moving average of $125.42 and a 200-day simple moving average of $118.44. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.74 and a current ratio of 4.26. The stock has a market capitalization of $8.44 billion, a PE ratio of 19.67, a PEG ratio of 1.04 and a beta of 0.56. Jazz Pharmaceuticals plc has a 1 year low of $99.06 and a 1 year high of $140.52.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JAZZ. Needham & Company LLC reissued a “buy” rating and set a $207.00 price objective on shares of Jazz Pharmaceuticals in a research report on Thursday, December 12th. Robert W. Baird raised their price objective on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. TD Cowen cut their price objective on Jazz Pharmaceuticals from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company raised Jazz Pharmaceuticals from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $130.00 to $170.00 in a research report on Thursday, February 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $179.00 price objective on shares of Jazz Pharmaceuticals in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $180.33.

Insider Activity

In other news, CEO Bruce C. Cozadd sold 1,500 shares of Jazz Pharmaceuticals stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $123.43, for a total value of $185,145.00. Following the completion of the transaction, the chief executive officer now owns 425,525 shares in the company, valued at approximately $52,522,550.75. This trade represents a 0.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 5,053 shares of company stock worth $617,442. 4.20% of the stock is currently owned by company insiders.

Jazz Pharmaceuticals Profile

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.