Key Points
- CFO Terrance Coyne sold 69,582 shares on Dec. 1 at an average price of $39.87 for a total of $2,774,234.34, leaving him with 47,260 shares — a 59.55% reduction in his stake.
- Royalty Pharma reported adjusted EPS of $1.17 for the quarter (beating the $1.11 consensus) but missed on revenue at $609.3 million versus $765.0 million expected.
- The company declared a quarterly dividend of $0.22 per share (paid Dec. 10; ex-dividend Nov. 14), equal to $0.88 annually and a yield of about 2.2% with a payout ratio of 66.7%.
Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) CFO Terrance Coyne sold 69,582 shares of the business's stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $39.87, for a total value of $2,774,234.34. Following the completion of the transaction, the chief financial officer directly owned 47,260 shares of the company's stock, valued at approximately $1,884,256.20. This trade represents a 59.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Royalty Pharma Stock Up 0.2%
Shares of RPRX stock opened at $39.60 on Thursday. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $41.24. The stock has a market cap of $22.86 billion, a P/E ratio of 30.00, a P/E/G ratio of 2.08 and a beta of 0.47. The stock has a 50 day moving average of $37.68 and a 200 day moving average of $36.29. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.89.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.06. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. The business had revenue of $609.29 million for the quarter, compared to analysts' expectations of $765.01 million. As a group, sell-side analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current year.
Royalty Pharma Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. Royalty Pharma's dividend payout ratio (DPR) is 66.67%.
Wall Street Analysts Forecast Growth
RPRX has been the subject of a number of analyst reports. TD Cowen cut Royalty Pharma from a "strong-buy" rating to a "hold" rating in a report on Monday, November 17th. Weiss Ratings cut shares of Royalty Pharma from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Saturday, October 25th. Morgan Stanley reduced their price objective on shares of Royalty Pharma from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Friday, October 10th. Wall Street Zen lowered shares of Royalty Pharma from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 28th. Finally, The Goldman Sachs Group assumed coverage on Royalty Pharma in a report on Tuesday, September 30th. They set a "buy" rating and a $42.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $46.00.
View Our Latest Analysis on RPRX
Institutional Investors Weigh In On Royalty Pharma
Several hedge funds and other institutional investors have recently made changes to their positions in RPRX. CWM LLC boosted its stake in Royalty Pharma by 1.5% during the third quarter. CWM LLC now owns 18,591 shares of the biopharmaceutical company's stock worth $656,000 after buying an additional 281 shares during the last quarter. Augustine Asset Management Inc. boosted its position in shares of Royalty Pharma by 4.4% during the 2nd quarter. Augustine Asset Management Inc. now owns 6,722 shares of the biopharmaceutical company's stock valued at $242,000 after acquiring an additional 283 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Royalty Pharma by 9.6% in the third quarter. GAMMA Investing LLC now owns 3,306 shares of the biopharmaceutical company's stock valued at $117,000 after purchasing an additional 289 shares during the period. Merit Financial Group LLC increased its position in Royalty Pharma by 3.5% during the third quarter. Merit Financial Group LLC now owns 9,149 shares of the biopharmaceutical company's stock worth $323,000 after purchasing an additional 306 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in Royalty Pharma by 31.9% during the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 306 shares during the period. Institutional investors and hedge funds own 54.35% of the company's stock.
Royalty Pharma Company Profile
(
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.
Further Reading
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