Insider Selling: Royalty Pharma (NASDAQ:RPRX) EVP Sells 23,333 Shares of Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Marshall Urist sold 23,333 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $39.93, for a total transaction of $931,686.69. Following the sale, the executive vice president directly owned 183,334 shares in the company, valued at approximately $7,320,526.62. This trade represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Marshall Urist also recently made the following trade(s):

• On Monday, December 1st, Marshall Urist sold 18,242 shares of Royalty Pharma stock. The stock was sold at an average price of $39.90, for a total transaction of $727,855.80.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX traded up $0.07 during midday trading on Wednesday, hitting $39.60. The company’s stock had a trading volume of 3,109,699 shares, compared to its average volume of 4,284,271. The firm has a market capitalization of $22.86 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 2.10 and a beta of 0.47. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.89. The stock has a fifty day moving average price of $37.61 and a 200 day moving average price of $36.26. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $41.24.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $1.17 EPS 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 company had revenue of $609.29 million during the quarter, compared to the consensus estimate of $765.01 million. On average, research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group started coverage on Royalty Pharma in a research note on Tuesday, September 30th. They set a “buy” rating and a $42.00 price objective on the stock. Wall Street Zen cut Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 28th. Morgan Stanley lowered their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. TD Cowen cut shares of Royalty Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Finally, Weiss Ratings lowered shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

Institutional Trading of Royalty Pharma

A number of hedge funds have recently made changes to their positions in the stock. Capital International Investors grew its position in Royalty Pharma by 24.4% in the third quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock worth $960,064,000 after acquiring an additional 5,332,074 shares in the last quarter. Swedbank AB lifted its stake in Royalty Pharma by 0.4% during the third quarter. Swedbank AB now owns 12,200,270 shares of the biopharmaceutical company’s stock worth $430,426,000 after purchasing an additional 42,800 shares during the last quarter. State Street Corp boosted its holdings in shares of Royalty Pharma by 0.8% in the 3rd quarter. State Street Corp now owns 10,272,753 shares of the biopharmaceutical company’s stock worth $362,423,000 after purchasing an additional 77,815 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Royalty Pharma by 2.2% in 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. Finally, Norges Bank bought a new position in shares of Royalty Pharma during the 2nd quarter valued at about $181,388,000. 54.35% of the stock is owned by institutional investors.

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.