Key Points
- CFO Terrance Coyne sold $2,682,386.10 worth of stock (69,582 shares at $38.55), cutting his stake by 57.7% to 51,010 shares (≈$1.97M), according to an SEC filing.
- Royalty Pharma beat EPS estimates with $1.17 (consensus $1.11) but missed on revenue, reporting $609.3M versus a $765.0M estimate; the company posted a 32.51% net margin and 26.36% ROE.
- Dividend announced: a quarterly payout of $0.22 per share (annualized $0.88) implying a 2.2% yield, with an ex-dividend date of Nov 14 and payment on Dec 10.
Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) CFO Terrance Coyne sold 69,582 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $38.55, for a total value of $2,682,386.10. Following the completion of the transaction, the chief financial officer owned 51,010 shares of the company's stock, valued at approximately $1,966,435.50. This trade represents a 57.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Royalty Pharma Trading Up 0.8%
Shares of NASDAQ RPRX opened at $39.84 on Thursday. The stock has a market cap of $23.00 billion, a P/E ratio of 30.18, a price-to-earnings-growth ratio of 2.08 and a beta of 0.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.48 and a quick ratio of 3.48. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $41.24. The firm has a 50-day moving average of $37.30 and a 200 day moving average of $36.05.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.06. The firm had revenue of $609.29 million during the quarter, compared to analyst estimates of $765.01 million. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. As a group, sell-side analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.
Royalty Pharma Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, November 14th. Royalty Pharma's dividend payout ratio is 66.67%.
Hedge Funds Weigh In On Royalty Pharma
A number of hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in shares of Royalty Pharma by 868.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company's stock valued at $31,000 after purchasing an additional 790 shares during the period. USA Financial Formulas purchased a new stake in Royalty Pharma in the 2nd quarter worth $32,000. Financial Consulate Inc. bought a new stake in Royalty Pharma during the third quarter valued at about $35,000. Summit Securities Group LLC bought a new stake in Royalty Pharma during the first quarter valued at about $36,000. Finally, WPG Advisers LLC purchased a new position in shares of Royalty Pharma in the first quarter valued at about $39,000. 54.35% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently issued reports on RPRX shares. Weiss Ratings downgraded shares of Royalty Pharma from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Saturday, October 25th. The Goldman Sachs Group began coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They issued a "buy" rating and a $42.00 target price for the company. Wall Street Zen raised Royalty Pharma from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 15th. Morgan Stanley dropped their price target on Royalty Pharma from $55.00 to $54.00 and set an "overweight" rating on the stock in a research note on Friday, October 10th. Finally, TD Cowen cut Royalty Pharma from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 17th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Royalty Pharma currently has an average rating of "Moderate Buy" and an average target price of $46.00.
Check Out Our Latest Analysis on Royalty Pharma
About Royalty Pharma
(
Get Free Report)
Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
