Principal Financial Group Inc. Sells 66,821 Shares of Jazz Pharmaceuticals plc (NASDAQ:JAZZ)

Principal Financial Group Inc. cut its position in Jazz Pharmaceuticals plc (NASDAQ:JAZZ - Free Report) by 31.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,938 shares of the specialty pharmaceutical company's stock after selling 66,821 shares during the period. Principal Financial Group Inc. owned about 0.24% of Jazz Pharmaceuticals worth $15,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of JAZZ. Rubric Capital Management LP purchased a new stake in Jazz Pharmaceuticals in the 2nd quarter worth $65,812,000. Pacer Advisors Inc. boosted its stake in shares of Jazz Pharmaceuticals by 40.7% in the second quarter. Pacer Advisors Inc. now owns 1,820,913 shares of the specialty pharmaceutical company's stock worth $194,346,000 after acquiring an additional 527,187 shares during the period. Baupost Group LLC MA grew its position in shares of Jazz Pharmaceuticals by 52.8% during the second quarter. Baupost Group LLC MA now owns 1,274,248 shares of the specialty pharmaceutical company's stock worth $136,000,000 after purchasing an additional 440,552 shares in the last quarter. Millennium Management LLC raised its stake in Jazz Pharmaceuticals by 1,808.4% during the 2nd quarter. Millennium Management LLC now owns 450,872 shares of the specialty pharmaceutical company's stock valued at $48,122,000 after purchasing an additional 427,246 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Jazz Pharmaceuticals by 48.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,222,198 shares of the specialty pharmaceutical company's stock worth $130,447,000 after purchasing an additional 398,549 shares in the last quarter. 89.14% of the stock is currently owned by institutional investors.

Jazz Pharmaceuticals Trading Down 1.0 %

Shares of JAZZ stock traded down $1.22 during trading hours on Friday, reaching $124.60. 271,349 shares of the stock were exchanged, compared to its average volume of 517,177. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57. Jazz Pharmaceuticals plc has a 12-month low of $99.06 and a 12-month high of $134.17. The company's 50-day moving average price is $119.86 and its 200-day moving average price is $113.31. The company has a current ratio of 4.26, a quick ratio of 3.74 and a debt-to-equity ratio of 1.46.

Insiders Place Their Bets

In related news, EVP Neena M. Patil sold 3,700 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $123.41, for a total value of $456,617.00. Following the transaction, the executive vice president now owns 33,048 shares of the company's stock, valued at $4,078,453.68. This trade represents a 10.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Bruce C. Cozadd sold 1,000 shares of the business's stock in a transaction dated 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 directly owns 428,976 shares of the company's stock, valued at approximately $47,547,699.84. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,753 shares of company stock valued at $816,289 over the last 90 days. Insiders own 4.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on JAZZ shares. HC Wainwright reaffirmed a "buy" rating and set a $200.00 price objective on shares of Jazz Pharmaceuticals in a report on Friday, November 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $140.00 price objective on shares of Jazz Pharmaceuticals in a research report on Monday, September 9th. Royal Bank of Canada reiterated an "outperform" rating and issued a $179.00 target price on shares of Jazz Pharmaceuticals in a research report on Tuesday, December 10th. Morgan Stanley raised Jazz Pharmaceuticals from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $140.00 to $175.00 in a research note on Thursday, December 12th. Finally, Robert W. Baird lifted their price objective on Jazz Pharmaceuticals from $154.00 to $162.00 and gave the stock an "outperform" rating in a research note on Monday, November 18th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.