39,687 Royalty Pharma PLC $RPRX Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC cut its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 60.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 26,347 shares of the biopharmaceutical company’s stock after selling 39,687 shares during the period. Sterling Capital Management LLC’s holdings in Royalty Pharma were worth $1,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glenmede Trust Co. NA increased its stake in Royalty Pharma by 3.4% in the 1st quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock valued at $375,000 after buying an additional 254 shares during the period. MBL Wealth LLC raised its position in Royalty Pharma by 7.3% during the 3rd quarter. MBL Wealth LLC now owns 3,908 shares of the biopharmaceutical company’s stock worth $228,000 after buying an additional 266 shares during the last quarter. Bessemer Group Inc. raised its position in Royalty Pharma by 34.7% during the 1st quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 282 shares during the last quarter. CoreCap Advisors LLC raised its position in Royalty Pharma by 89.2% during the 2nd quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 413 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Royalty Pharma by 173.4% in the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 437 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Stock Up 1.4%

RPRX opened at $64.76 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80. Royalty Pharma PLC has a 12 month low of $35.92 and a 12 month high of $65.35. The stock has a market capitalization of $37.24 billion, a P/E ratio of 44.66, a P/E/G ratio of 1.75 and a beta of 0.42. The business has a 50 day simple moving average of $59.84 and a 200-day simple moving average of $52.62.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share 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 firm had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. On average, equities analysts anticipate that Royalty Pharma PLC will post 5.29 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be issued a $0.2350 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.94 dividend on an annualized basis and a yield of 1.5%. Royalty Pharma’s dividend payout ratio (DPR) is 64.83%.

Insider Buying and Selling at Royalty Pharma

In other news, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 270,401 shares of the company’s stock, valued at $15,826,570.53. This represents a 27.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $57.10, for a total transaction of $235,594.60. The SEC filing for this sale provides additional information. 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 worth $12,324,407 over the last 90 days. Insiders own 18.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RPRX shares. 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. Morgan Stanley boosted their price target on shares of Royalty Pharma from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Wall Street Zen cut shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 26th. Bank of America reissued a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 14th. Eight analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $61.57.

Royalty Pharma Company Profile

Royalty Pharma plc (NASDAQ:RPRX) is a biopharmaceutical royalty investment company that provides funding to life sciences companies, academic institutions, and other organizations in exchange for rights to future payments tied to approved or development-stage medicines. Its business model gives innovators access to capital while allowing Royalty Pharma to participate in the long-term commercial success of pharmaceutical products.

The company acquires and manages royalty interests across a broad range of therapeutic areas, including immunology, oncology, neuroscience, rare diseases, and infectious diseases.