Key Points
- Royalty Pharma EVP Christopher Hite sold 100,000 shares at an average price of $58.53, generating $5.85 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his direct ownership by 27% to 270,401 shares.
- Royalty Pharma reported quarterly EPS of $1.32, exceeding analyst estimates of $1.27, although revenue of $674.14 million fell short of expectations. The company also pays a quarterly dividend of $0.235 per share, equivalent to a 1.6% yield.
- Shares opened at $58.29, while analysts maintained a broadly positive outlook: eight analysts rate the stock a Buy, with a consensus price target of $61.29.
Royalty Pharma PLC (NASDAQ:RPRX - Get Free Report) EVP Christopher Hite sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the sale, the executive vice president directly owned 270,401 shares of the company's stock, valued at approximately $15,826,570.53. This represents a 27.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Christopher Hite also recently made the following trade(s):
- On Tuesday, August 18th, Christopher Hite sold 100,000 shares of Royalty Pharma stock. The stock was sold at an average price of $59.97, for a total transaction of $5,997,000.00.
- On Tuesday, June 30th, Christopher Hite sold 100,000 shares of Royalty Pharma stock. The shares were sold at an average price of $56.52, for a total transaction of $5,652,000.00.
- On Tuesday, June 30th, Christopher Hite sold 30,000 shares of Royalty Pharma stock. The stock was sold at an average price of $56.46, for a total value of $1,693,800.00.
Royalty Pharma Price Performance
Shares of Royalty Pharma stock opened at $58.29 on Friday. The stock has a market cap of $33.52 billion, a P/E ratio of 40.20, a P/E/G ratio of 1.38 and a beta of 0.44. 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 stock's fifty day moving average is $59.57 and its 200 day moving average is $54.45. Royalty Pharma PLC has a one year low of $34.63 and a one year high of $64.38.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The business had revenue of $674.14 million during the quarter, compared to analysts' expectations of $758.93 million. Sell-side analysts anticipate that Royalty Pharma PLC will post 5.32 earnings per share for the current year.
Royalty Pharma Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were issued a $0.2350 dividend. This represents a $0.94 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 14th. Royalty Pharma's dividend payout ratio is currently 64.83%.
Institutional Trading of Royalty Pharma
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital International Investors increased its holdings in shares of Royalty Pharma by 14.3% in the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company's stock worth $1,201,870,000 after purchasing an additional 3,891,615 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Royalty Pharma by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company's stock valued at $297,465,000 after purchasing an additional 102,430 shares in the last quarter. Bank of America Corp DE increased its position in Royalty Pharma by 29.0% in the first quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company's stock worth $167,696,000 after purchasing an additional 786,921 shares during the last quarter. Norges Bank purchased a new stake in Royalty Pharma during the fourth quarter valued at $131,923,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Royalty Pharma by 0.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,313,265 shares of the biopharmaceutical company's stock valued at $128,025,000 after purchasing an additional 31,091 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. Bank of America reaffirmed a "buy" rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Weiss Ratings raised shares of Royalty Pharma from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, September 14th. Wall Street Zen upgraded shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 12th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $66.00 target price on shares of Royalty Pharma in a report on Thursday, August 6th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $65.00 price target on shares of Royalty Pharma in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $61.29.
Check Out Our Latest Stock Report on Royalty Pharma
About Royalty Pharma
(
Get Free Report)
Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to life sciences companies in exchange for rights to receive future royalty payments from commercialized or late-stage therapies. Rather than developing and marketing medicines itself, the company invests in pharmaceutical and biotechnology innovations and seeks to generate income from the resulting royalty streams.
Its portfolio is linked to a range of therapies across areas including oncology, immunology, neuroscience, rare diseases and other specialty markets.
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