Public Employees Retirement System of Ohio Sells 10,515 Shares of Royalty Pharma PLC $RPRX

Public Employees Retirement System of Ohio decreased its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 7.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 137,011 shares of the biopharmaceutical company’s stock after selling 10,515 shares during the period. Public Employees Retirement System of Ohio’s holdings in Royalty Pharma were worth $6,572,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. LM Advisors LLC acquired a new position in shares of Royalty Pharma during the 4th quarter worth approximately $26,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Royalty Pharma in the fourth quarter valued at approximately $30,000. Private Trust Co. NA raised its position in shares of Royalty Pharma by 52.9% in the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 288 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Royalty Pharma by 173.4% in the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 437 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Royalty Pharma by 66.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 446 shares during the period. Institutional investors own 54.35% of the company’s stock.

Analyst Ratings Changes

RPRX has been the topic of a number of recent research reports. UBS Group raised their price objective on Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Weiss Ratings lowered Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Citigroup boosted their price target on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley increased their price objective on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, Royalty Pharma currently has an average rating of “Buy” and an average target price of $56.57.

Insiders Place Their Bets

In other news, Director Gregory Norden sold 3,045 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the transaction, the director owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the completion of the transaction, the executive vice president directly owned 559,399 shares of the company’s stock, valued at $30,431,305.60. This trade represents a 21.14% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 393,009 shares of company stock worth $21,601,827. Insiders own 18.84% of the company’s stock.

Royalty Pharma Stock Up 2.1%

NASDAQ RPRX opened at $59.97 on Wednesday. The business has a fifty day moving average price of $55.88 and a two-hundred day moving average price of $49.54. The stock has a market capitalization of $34.53 billion, a PE ratio of 40.80, a PEG ratio of 10.40 and a beta of 0.43. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $60.08. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The company had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. Equities analysts expect that Royalty Pharma PLC will post 5.18 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.94 annualized dividend and a yield of 1.6%. Royalty Pharma’s dividend payout ratio (DPR) is 63.95%.

Royalty Pharma Company 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.