Royalty Pharma PLC $RPRX Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lessened its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 22.0% during the 2nd quarter, Holdings Channel reports. The firm owned 24,128 shares of the biopharmaceutical company’s stock after selling 6,824 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Royalty Pharma were worth $869,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Royalty Pharma by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 8,176,504 shares of the biopharmaceutical company’s stock worth $299,494,000 after purchasing an additional 177,036 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Royalty Pharma by 8.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,847,934 shares of the biopharmaceutical company’s stock valued at $88,656,000 after buying an additional 226,048 shares during the last quarter. AQR Capital Management LLC increased its position in Royalty Pharma by 37.0% during the first quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company’s stock worth $80,381,000 after buying an additional 704,414 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Royalty Pharma by 126.5% in the second quarter. Jupiter Asset Management Ltd. now owns 2,470,706 shares of the biopharmaceutical company’s stock worth $89,020,000 after acquiring an additional 1,380,115 shares during the last quarter. Finally, Homestead Advisers Corp lifted its position in shares of Royalty Pharma by 0.4% in the second quarter. Homestead Advisers Corp now owns 1,939,440 shares of the biopharmaceutical company’s stock valued at $69,878,000 after acquiring an additional 8,300 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RPRX has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Weiss Ratings cut shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. The Goldman Sachs Group assumed coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price objective for the company. TD Cowen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Finally, Wall Street Zen cut shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

Royalty Pharma Trading Up 0.8%

NASDAQ RPRX opened at $40.18 on Friday. The company has a market cap of $23.19 billion, a P/E ratio of 30.44, a P/E/G ratio of 2.10 and a beta of 0.56. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $41.24. 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 company has a 50-day moving average of $37.46 and a 200-day moving average of $36.13.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $765.01 million. As a group, equities analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, November 14th. Royalty Pharma’s dividend payout ratio (DPR) is 66.67%.

Insiders Place Their Bets

In other Royalty Pharma news, EVP George W. Lloyd sold 132,426 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $38.34, for a total transaction of $5,077,212.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Terrance P. Coyne sold 69,594 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $39.30, for a total value of $2,735,044.20. Following the sale, the chief financial officer owned 54,760 shares of the company’s stock, valued at $2,152,068. This represents a 55.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 344,196 shares of company stock worth $13,344,707 in the last quarter. 18.90% of the stock is owned by insiders.

Royalty Pharma Profile

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.