Wellington Management Group LLP trimmed its position in Jazz Pharmaceuticals PLC (NASDAQ:JAZZ – Free Report) by 60.9% during the 2nd quarter, according to its most recent filing 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 owned about 0.28% of Jazz Pharmaceuticals worth $43,168,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. USA Financial Formulas acquired a new position in Jazz Pharmaceuticals in the first quarter valued at approximately $25,000. LRI Investments LLC purchased a new stake in Jazz Pharmaceuticals in the 4th quarter valued at about $38,000. Danske Bank A S acquired a new position in Jazz Pharmaceuticals in the third quarter valued at about $40,000. Geneos Wealth Management Inc. boosted 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 buying an additional 137 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted 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 buying an additional 332 shares during the period. Institutional investors and hedge funds own 89.14% of the company’s stock.
Insider Buying and Selling
In other Jazz Pharmaceuticals news, EVP Neena M. Patil sold 1,200 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $231.83, for a total value of $278,196.00. Following the sale, the executive vice president owned 51,549 shares of the company’s stock, valued at $11,950,604.67. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Smith sold 1,157 shares of Jazz Pharmaceuticals stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $230.55, for a total value of $266,746.35. Following the completion of the transaction, the director owned 9,680 shares of the company’s stock, valued at $2,231,724. The trade was a 10.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 97,278 shares of company stock valued at $24,213,596. 4.10% of the stock is currently owned by company insiders.
Jazz Pharmaceuticals Price Performance
Jazz Pharmaceuticals (NASDAQ:JAZZ – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The specialty pharmaceutical company reported $5.71 EPS for the quarter, missing the consensus estimate of $6.18 by ($0.47). Jazz Pharmaceuticals had a return on equity of 33.97% and a net margin of 20.45%.The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm earned ($8.25) EPS. The business’s revenue was up 15.5% on a year-over-year basis. On average, research analysts expect that Jazz Pharmaceuticals PLC will post 21.5 EPS for the current fiscal year.
Wall Street Analyst Weigh In
JAZZ has been the topic of several recent analyst reports. Robert W. Baird upped their price objective on shares of Jazz Pharmaceuticals from $252.00 to $280.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Barclays boosted their target price on Jazz Pharmaceuticals from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Morgan Stanley raised their price target on Jazz Pharmaceuticals from $283.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 26th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Jazz Pharmaceuticals in a research note on Tuesday, June 9th. Finally, Piper Sandler boosted their price objective on Jazz Pharmaceuticals from $301.00 to $310.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Jazz Pharmaceuticals has a consensus rating of “Buy” and an average price target of $285.44.
View Our Latest Stock Analysis on Jazz Pharmaceuticals
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.
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