Wellington Management Group LLP Sells 3,026 Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Wellington Management Group LLP cut its stake in shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) by 6.8% in the fourth quarter, HoldingsChannel reports. The fund owned 41,803 shares of the specialty pharmaceutical company’s stock after selling 3,026 shares during the period. Wellington Management Group LLP’s holdings in Jazz Pharmaceuticals were worth $5,148,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc bought a new position in shares of Jazz Pharmaceuticals in the fourth quarter worth approximately $25,000. CoreFirst Bank & Trust purchased a new position in shares of Jazz Pharmaceuticals during the 4th quarter valued at $28,000. Allianz SE bought a new position in Jazz Pharmaceuticals in the 4th quarter worth $29,000. Jones Financial Companies Lllp increased its stake in Jazz Pharmaceuticals by 75.1% in the 4th quarter. Jones Financial Companies Lllp now owns 303 shares of the specialty pharmaceutical company’s stock worth $37,000 after buying an additional 130 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Jazz Pharmaceuticals by 70.9% in the 4th quarter. UMB Bank n.a. now owns 311 shares of the specialty pharmaceutical company’s stock worth $38,000 after buying an additional 129 shares in the last quarter. 89.14% of the stock is owned by hedge funds and other institutional investors.

Jazz Pharmaceuticals Trading Down 7.3 %

Shares of JAZZ stock opened at $102.05 on Friday. The company has a market cap of $6.20 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.04 and a beta of 0.42. Jazz Pharmaceuticals plc has a 1 year low of $95.49 and a 1 year high of $148.06. The stock’s 50 day simple moving average is $130.10 and its two-hundred day simple moving average is $122.73. The company has a debt-to-equity ratio of 1.46, a current ratio of 4.26 and a quick ratio of 3.74.

Insider Activity

In related news, CAO Patricia Carr sold 1,140 shares of Jazz Pharmaceuticals stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $137.81, for a total transaction of $157,103.40. Following the completion of the transaction, the chief accounting officer now directly owns 7,012 shares of the company’s stock, valued at approximately $966,323.72. The trade was a 13.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Neena M. Patil sold 3,800 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $144.87, for a total transaction of $550,506.00. Following the completion of the sale, the executive vice president now directly owns 33,318 shares in the company, valued at $4,826,778.66. This trade represents a 10.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,736 shares of company stock valued at $4,023,305. 4.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on JAZZ shares. Barclays reaffirmed an “overweight” rating and issued a $200.00 price objective (up previously from $190.00) on shares of Jazz Pharmaceuticals in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on Jazz Pharmaceuticals from $200.00 to $209.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Piper Sandler reiterated an “overweight” rating and set a $176.00 price objective (up previously from $163.00) on shares of Jazz Pharmaceuticals in a research report on Wednesday, February 26th. UBS Group upgraded shares of Jazz Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $179.00 in a research report on Friday, March 7th. Finally, Truist Financial lifted their price target on shares of Jazz Pharmaceuticals from $220.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Jazz Pharmaceuticals has an average rating of “Buy” and a consensus target price of $187.71.

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.