As Jazz Pharmaceuticals Plc (JAZZ) Valuation Declined, Putnam Investments LLC Has Cut Its Stake

October 2, 2018 - By Clifton Ray

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) LogoInvestors sentiment increased to 1.52 in 2018 Q2. Its up 0.50, from 1.02 in 2018Q1. It increased, as 25 investors sold JAZZ shares while 88 reduced holdings. 79 funds opened positions while 93 raised stakes. 54.43 million shares or 4.78% more from 51.95 million shares in 2018Q1 were reported. Bingham Osborn & Scarborough Ltd Llc holds 15,412 shares. Envestnet Asset Inc accumulated 5,171 shares. Rock Springs Cap Limited Partnership holds 0.65% or 98,000 shares. Mitsubishi Ufj & Corp reported 0.04% of its portfolio in Jazz Pharmaceuticals plc (NASDAQ:JAZZ). Banced Corp reported 3,202 shares. Aqr Mngmt Ltd Limited Liability Company has 0.02% invested in Jazz Pharmaceuticals plc (NASDAQ:JAZZ). Brinker invested in 0.07% or 10,230 shares. Goldman Sachs Gru accumulated 472,528 shares or 0.02% of the stock. Deutsche Bank & Trust Ag has invested 0.02% in Jazz Pharmaceuticals plc (NASDAQ:JAZZ). United Capital Fincl Advisers Ltd Llc has 0% invested in Jazz Pharmaceuticals plc (NASDAQ:JAZZ) for 1,703 shares. Highstreet Asset Mgmt reported 5,569 shares or 0.06% of all its holdings. Reilly Advsr Ltd Llc, a California-based fund reported 23 shares. Quebec – Canada-based Fiera Cap Corporation has invested 0.24% in Jazz Pharmaceuticals plc (NASDAQ:JAZZ). Assetmark stated it has 0% of its portfolio in Jazz Pharmaceuticals plc (NASDAQ:JAZZ). Canada Pension Plan Board has 0.01% invested in Jazz Pharmaceuticals plc (NASDAQ:JAZZ).

Since April 2, 2018, it had 0 buys, and 22 insider sales for $6.79 million activity. 3,760 shares were sold by WILSON KAREN J, worth $620,400. COZADD BRUCE C sold $273,296 worth of stock. The insider Young Matthew P. sold $850,212. $33,040 worth of stock was sold by MILLER MICHAEL PATRICK on Friday, September 14. Another trade for 715 shares valued at $126,277 was sold by Gray Peter. Shares for $1.71M were sold by ENRIGHT PATRICK G on Thursday, September 6.

Putnam Investments Llc decreased its stake in Jazz Pharmaceuticals Plc (JAZZ) by 31.63% based on its latest 2018Q2 regulatory filing with the SEC. Putnam Investments Llc sold 2.27M shares as the company’s stock declined 5.67% while stock markets rallied. The institutional investor held 4.91M shares of the major pharmaceuticals company at the end of 2018Q2, valued at $846.06M, down from 7.18M at the end of the previous reported quarter. Putnam Investments Llc who had been investing in Jazz Pharmaceuticals Plc for a number of months, seems to be less bullish one the $10.00B market cap company. The stock decreased 1.53% or $2.58 during the last trading session, reaching $165.55. About 432,759 shares traded or 0.93% up from the average. Jazz Pharmaceuticals plc (NASDAQ:JAZZ) has risen 6.65% since October 2, 2017 and is uptrending. It has underperformed by 8.97% the S&P500.

Putnam Investments Llc, which manages about $89.35B and $43.71B US Long portfolio, upped its stake in Pepsico Inc (NYSE:PEP) by 71,090 shares to 2.37M shares, valued at $257.48M in 2018Q2, according to the filing. It also increased its holding in Citigroup Inc (NYSE:C) by 173,679 shares in the quarter, for a total of 9.10M shares, and has risen its stake in Ferro Corp (NYSE:FOE).

Analysts await Jazz Pharmaceuticals plc (NASDAQ:JAZZ) to report earnings on November, 6. They expect $2.95 earnings per share, up 0.68 % or $0.02 from last year’s $2.93 per share. JAZZ’s profit will be $178.21 million for 14.03 P/E if the $2.95 EPS becomes a reality. After $3.11 actual earnings per share reported by Jazz Pharmaceuticals plc for the previous quarter, Wall Street now forecasts -5.14 % negative EPS growth.

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Ratings Coverage

Among 9 analysts covering Jazz Pharmaceuticals (NASDAQ:JAZZ), 8 have Buy rating, 0 Sell and 1 Hold. Therefore 89% are positive. Jazz Pharmaceuticals had 12 analyst reports since April 6, 2018 according to SRatingsIntel. BMO Capital Markets maintained it with “Outperform” rating and $201 target in Wednesday, May 9 report. The company was maintained on Monday, June 25 by FBR Capital. As per Monday, May 7, the company rating was maintained by Cantor Fitzgerald. The stock of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) has “Buy” rating given on Thursday, May 10 by FBR Capital. On Thursday, April 12 the stock rating was maintained by Piper Jaffray with “Buy”. RBC Capital Markets maintained the shares of JAZZ in report on Friday, June 1 with “Buy” rating. The rating was maintained by BMO Capital Markets on Wednesday, August 8 with “Outperform”. As per Wednesday, July 11, the company rating was downgraded by Morgan Stanley. Seaport Global maintained Jazz Pharmaceuticals plc (NASDAQ:JAZZ) on Friday, April 6 with “Buy” rating. As per Wednesday, August 8, the company rating was maintained by Stifel Nicolaus.

Jazz Pharmaceuticals plc (NASDAQ:JAZZ) Ratings Chart

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