940,450 Royalty Pharma PLC $RPRX Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. lowered its position in Royalty Pharma PLC (NASDAQ:RPRX) by 39.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,445,493 shares of the biopharmaceutical company’s stock after selling 940,450 shares during the period. Royalty Pharma accounts for about 5.7% of New South Capital Management Inc.’s holdings, making the stock its 5th biggest position. New South Capital Management Inc.’s holdings in Royalty Pharma were worth $84,359,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Provenance Wealth Advisors LLC bought a new stake in shares of Royalty Pharma during the third quarter worth about $26,000. CoreCap Advisors LLC grew its position in Royalty Pharma by 89.2% in the 2nd quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 413 shares in the last quarter. Root Financial Partners LLC purchased a new stake in Royalty Pharma in the 3rd quarter valued at about $62,000. Bessemer Group Inc. increased its stake in Royalty Pharma by 34.7% in the 1st quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 282 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in Royalty Pharma by 263.3% in the 2nd quarter. IFP Advisors Inc now owns 1,188 shares of the biopharmaceutical company’s stock valued at $67,000 after buying an additional 861 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $70.01 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.29 and a quick ratio of 1.29. The business has a fifty day simple moving average of $61.29 and a two-hundred day simple moving average of $54.25. Royalty Pharma PLC has a 1 year low of $37.31 and a 1 year high of $70.27. The company has a market capitalization of $40.26 billion, a P/E ratio of 58.34, a P/E/G ratio of 1.37 and a beta of 0.37.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.2350 per share. The ex-dividend date is Friday, November 13th. This represents a $0.94 annualized dividend and a dividend yield of 1.3%. Royalty Pharma’s dividend payout ratio is presently 78.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America restated a “buy” rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Weiss Ratings raised Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 14th. Citigroup lifted their price target on Royalty Pharma from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Wall Street Zen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 26th. Finally, Morgan Stanley lifted their price objective on shares of Royalty Pharma from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Eight investment 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 $63.29.

Insider Buying and Selling at Royalty Pharma

In other news, EVP Marshall Urist sold 4,126 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $57.10, for a total transaction of $235,594.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the sale, the executive vice president directly owned 270,401 shares of the company’s stock, valued at approximately $15,826,570.53. This trade represents a 27.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 208,252 shares of company stock valued at $12,324,407 in the last quarter. 18.84% of the stock is owned by corporate insiders.

Royalty Pharma Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to companies and inventors in exchange for royalty interests in medicines. It acquires existing royalties and helps finance drug development and commercialization through royalty-based transactions and other forms of funding. The company’s portfolio includes royalty interests in medicines across a range of therapeutic areas, spanning both approved treatments and products in development. Royalty Pharma generally earns revenue when these medicines are sold; it does not operate as a conventional drug manufacturer or commercialize medicines itself.