Insider Selling: Royalty Pharma (NASDAQ:RPRX) EVP Sells $5,997,000.00 in Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Christopher Hite sold 100,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $59.97, for a total value of $5,997,000.00. Following the transaction, the executive vice president directly owned 370,401 shares of the company’s stock, valued at approximately $22,212,947.97. The trade was a 21.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christopher Hite also recently made the following trade(s):

• On Tuesday, June 30th, Christopher Hite sold 100,000 shares of Royalty Pharma stock. The stock was sold at an average price of $56.52, for a total value of $5,652,000.00.
• On Tuesday, June 30th, Christopher Hite sold 30,000 shares of Royalty Pharma stock. The shares were sold at an average price of $56.46, for a total value of $1,693,800.00.
• On Tuesday, June 23rd, Christopher Hite sold 150,000 shares of Royalty Pharma stock. The stock was sold at an average price of $54.40, for a total transaction of $8,160,000.00.

Royalty Pharma Stock Up 3.4%

Shares of RPRX traded up $2.00 on Wednesday, hitting $61.69. 3,243,989 shares of the stock traded hands, compared to its average volume of 3,521,928. Royalty Pharma PLC has a one year low of $34.08 and a one year high of $61.80. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80. The company has a market capitalization of $35.47 billion, a PE ratio of 42.55, a P/E/G ratio of 1.37 and a beta of 0.43. The business has a 50 day simple moving average of $56.99 and a 200 day simple moving average of $51.46.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. The business had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. As a group, equities analysts forecast that Royalty Pharma PLC will post 5.3 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. Royalty Pharma’s dividend payout ratio is presently 64.83%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. lifted their price target on Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. TD Cowen boosted their price objective on Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. The Goldman Sachs Group restated a “buy” rating and set a $66.00 price objective on shares of Royalty Pharma in a research report on Thursday, August 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Royalty Pharma in a report on Wednesday, August 12th. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $60.86.

Institutional Investors Weigh In On Royalty Pharma

A number of hedge funds have recently added to or reduced their stakes in RPRX. Phillips Wealth Planners LLC lifted its holdings in shares of Royalty Pharma by 1.9% in the 4th quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock worth $521,000 after buying an additional 242 shares during the period. Strs Ohio grew its holdings in Royalty Pharma by 2.8% in the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 252 shares during the period. Glenmede Trust Co. NA grew its position in shares of Royalty Pharma by 3.4% during the first quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock worth $375,000 after buying an additional 254 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Royalty Pharma by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock worth $1,673,000 after buying an additional 255 shares in the last quarter. Finally, Cary Street Partners Financial LLC lifted its holdings in shares of Royalty Pharma by 1.1% in the fourth quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock valued at $943,000 after purchasing an additional 260 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.