Wellington Management Group LLP Trims Holdings in Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Wellington Management Group LLP decreased its stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 7.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 44,829 shares of the specialty pharmaceutical company’s stock after selling 3,739 shares during the period. Wellington Management Group LLP owned 0.07% of Jazz Pharmaceuticals worth $4,994,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Jazz Pharmaceuticals in the second quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its stake in Jazz Pharmaceuticals by 55.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 273 shares of the specialty pharmaceutical company’s stock worth $30,000 after purchasing an additional 97 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Jazz Pharmaceuticals by 41.3% in the 3rd quarter. GAMMA Investing LLC now owns 414 shares of the specialty pharmaceutical company’s stock valued at $46,000 after purchasing an additional 121 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Jazz Pharmaceuticals by 577.0% in the third quarter. Venturi Wealth Management LLC now owns 826 shares of the specialty pharmaceutical company’s stock worth $92,000 after purchasing an additional 704 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Jazz Pharmaceuticals by 24.5% in the second quarter. Blue Trust Inc. now owns 1,307 shares of the specialty pharmaceutical company’s stock worth $139,000 after buying an additional 257 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.

Insider Buying and Selling

In related news, EVP Neena M. Patil sold 3,700 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $123.41, for a total transaction of $456,617.00. Following the completion of the transaction, the executive vice president now owns 33,048 shares in the company, valued at $4,078,453.68. This represents a 10.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Bruce C. Cozadd sold 1,000 shares of Jazz Pharmaceuticals stock in a transaction on Friday, November 1st. The shares were sold at an average price of $110.84, for a total transaction of $110,840.00. Following the completion of the sale, the chief executive officer now owns 428,976 shares in the company, valued at approximately $47,547,699.84. This trade represents a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,753 shares of company stock valued at $816,289 over the last three months. 4.20% of the stock is owned by company insiders.

Jazz Pharmaceuticals Stock Performance

Shares of JAZZ stock opened at $125.20 on Tuesday. The company has a market capitalization of $7.57 billion, a P/E ratio of 17.63, a PEG ratio of 1.02 and a beta of 0.57. Jazz Pharmaceuticals plc has a fifty-two week low of $99.06 and a fifty-two week high of $134.17. 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 50 day moving average price of $117.39 and a two-hundred day moving average price of $112.22.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on JAZZ shares. JPMorgan Chase & Co. boosted their target price on Jazz Pharmaceuticals from $190.00 to $202.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Royal Bank of Canada restated an “outperform” rating and issued a $179.00 price objective on shares of Jazz Pharmaceuticals in a research report on Tuesday, December 10th. Robert W. Baird lifted their target price on shares of Jazz Pharmaceuticals from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Monday, November 18th. HC Wainwright reissued a “buy” rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a report on Friday, November 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $140.00 price objective on shares of Jazz Pharmaceuticals in a report on Monday, September 9th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $177.00.

Jazz Pharmaceuticals Company 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.