Key Points
- CFO Terrance Coyne sold 34,791 shares at an average price of $46.78 for about $1.63M, reducing his stake by 43.19% to 45,761 shares (valued at ~$2.14M) per an SEC filing.
- Quarterly results were mixed: Royalty Pharma reported EPS of $1.46, beating estimates by $0.13, but revenue of $621.99M missed expectations of $839.97M.
- Dividend was raised: the company increased its quarterly dividend to $0.235 per share (annualized $0.94), implying a ~2.0% yield with an ex-dividend date of Feb. 20.
Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) CFO Terrance Coyne sold 34,791 shares of the business's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $46.78, for a total value of $1,627,522.98. Following the completion of the transaction, the chief financial officer owned 45,761 shares in the company, valued at $2,140,699.58. This trade represents a 43.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Royalty Pharma Stock Down 0.1%
RPRX opened at $47.43 on Thursday. Royalty Pharma PLC has a fifty-two week low of $29.66 and a fifty-two week high of $47.86. The business has a 50-day moving average of $42.28 and a 200-day moving average of $39.09. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.40 and a quick ratio of 2.40. The company has a market capitalization of $27.36 billion, a PE ratio of 35.13 and a beta of 0.40.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.33 by $0.13. The business had revenue of $621.99 million during the quarter, compared to analysts' expectations of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. Equities research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.
Royalty Pharma Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.235 per share. This is a positive change from Royalty Pharma's previous quarterly dividend of $0.22. The ex-dividend date is Friday, February 20th. This represents a $0.94 annualized dividend and a dividend yield of 2.0%. Royalty Pharma's dividend payout ratio (DPR) is currently 69.63%.
Institutional Trading of Royalty Pharma
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley lifted its holdings in shares of Royalty Pharma by 25.2% during the fourth quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company's stock worth $2,135,790,000 after buying an additional 11,110,115 shares during the last quarter. Capital International Investors raised its stake in Royalty Pharma by 24.4% during the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company's stock valued at $960,064,000 after purchasing an additional 5,332,074 shares during the last quarter. Norges Bank bought a new stake in Royalty Pharma in the 2nd quarter valued at $181,388,000. Dorsey Asset Management LLC bought a new stake in Royalty Pharma in the 3rd quarter valued at $82,924,000. Finally, Qube Research & Technologies Ltd grew its position in Royalty Pharma by 737.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company's stock worth $87,557,000 after purchasing an additional 2,185,366 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on RPRX shares. Leerink Partners set a $45.00 price objective on shares of Royalty Pharma in a report on Thursday, December 11th. TD Cowen reaffirmed a "buy" rating on shares of Royalty Pharma in a research report on Friday, February 27th. Wall Street Zen lowered Royalty Pharma from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 14th. Weiss Ratings upgraded Royalty Pharma from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, February 12th. Finally, UBS Group raised Royalty Pharma from a "neutral" rating to a "buy" rating and set a $49.00 target price for the company in a research report on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $48.67.
Read Our Latest Stock Analysis on Royalty Pharma
About Royalty Pharma
(
Get Free Report)
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.
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