Royalty Pharma PLC $RPRX Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its position in Royalty Pharma PLC (NASDAQ:RPRX) by 12.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,039,968 shares of the biopharmaceutical company’s stock after selling 152,473 shares during the period. Wedge Capital Management L L P NC’s holdings in Royalty Pharma were worth $40,184,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC grew its holdings in Royalty Pharma by 1.5% in the third quarter. CWM LLC now owns 18,591 shares of the biopharmaceutical company’s stock valued at $656,000 after purchasing an additional 281 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Royalty Pharma by 9.6% during the 3rd quarter. GAMMA Investing LLC now owns 3,306 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 289 shares during the last quarter. Hudson Bay Capital Management LP raised its stake in shares of Royalty Pharma by 1.0% during the 3rd quarter. Hudson Bay Capital Management LP now owns 29,384 shares of the biopharmaceutical company’s stock worth $1,037,000 after buying an additional 289 shares during the last quarter. Merit Financial Group LLC boosted its position in shares of Royalty Pharma by 3.5% in the 3rd quarter. Merit Financial Group LLC now owns 9,149 shares of the biopharmaceutical company’s stock worth $323,000 after buying an additional 306 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of Royalty Pharma by 31.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 306 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

NASDAQ:RPRX opened at $46.35 on Friday. Royalty Pharma PLC has a 12-month low of $29.66 and a 12-month high of $47.86. The firm has a market cap of $26.74 billion, a price-to-earnings ratio of 34.33 and a beta of 0.40. The company’s 50-day moving average is $44.42 and its two-hundred day moving average is $40.23. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.88.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. The business had revenue of $621.99 million during the quarter, compared to the consensus estimate of $839.97 million. Royalty Pharma had a net margin of 32.38% and a return on equity of 28.21%. Research analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th were paid a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, February 20th. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s dividend payout ratio is presently 69.63%.

Insider Buying and Selling at Royalty Pharma

In other news, CFO Terrance P. Coyne sold 114,954 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $42.84, for a total transaction of $4,924,629.36. Following the sale, the chief financial officer owned 23,972 shares in the company, valued at $1,026,960.48. This trade represents a 82.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marshall Urist sold 20,000 shares of Royalty Pharma stock in a transaction on Friday, January 16th. The shares were sold at an average price of $39.52, for a total value of $790,400.00. Following the completion of the sale, the executive vice president directly owned 40,000 shares of the company’s stock, valued at approximately $1,580,800. This represents a 33.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 532,287 shares of company stock valued at $22,215,917 over the last quarter. 18.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on RPRX. Wall Street Zen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. UBS Group upgraded shares of Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Friday, January 30th. Citigroup raised their price objective on shares of Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. TD Cowen restated a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. Finally, Leerink Partners set a $45.00 target price on Royalty Pharma in a research note on Thursday, December 11th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $48.67.

Royalty Pharma Profile

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.