Royalty Pharma (NASDAQ:RPRX) CFO Terrance Coyne Sells 69,594 Shares

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 69,594 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $39.30, for a total transaction of $2,735,044.20. Following the sale, the chief financial officer owned 54,760 shares of the company’s stock, valued at approximately $2,152,068. This represents a 55.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Royalty Pharma Stock Performance

Royalty Pharma stock traded down $0.81 during mid-day trading on Wednesday, reaching $38.65. 3,803,730 shares of the stock traded hands, compared to its average volume of 4,290,284. The stock has a market capitalization of $22.31 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.06 and a beta of 0.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.48 and a quick ratio of 3.48. The business’s 50-day moving average is $36.91 and its 200-day moving average is $35.81. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $41.24.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.06. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. The firm had revenue of $609.29 million for the quarter, compared to analysts’ expectations of $765.01 million. As a group, sell-side analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. Royalty Pharma’s dividend payout ratio (DPR) is 66.67%.

Institutional Investors Weigh In On Royalty Pharma

Hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in Royalty Pharma by 868.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 790 shares in the last quarter. USA Financial Formulas bought a new stake in Royalty Pharma in the second quarter worth $32,000. Financial Consulate Inc. purchased a new stake in Royalty Pharma during the third quarter valued at $35,000. Summit Securities Group LLC bought a new position in Royalty Pharma during the first quarter valued at $36,000. Finally, Larson Financial Group LLC grew its stake 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 currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RPRX has been the subject of several analyst reports. TD Cowen lowered shares of Royalty Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings lowered Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Citigroup boosted their price objective on Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Finally, The Goldman Sachs Group started coverage on Royalty Pharma in a research report on Tuesday, September 30th. They set a “buy” rating and a $42.00 target price for the company. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Royalty Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.