Nisa Investment Advisors LLC Sells 21,957 Shares of Royalty Pharma PLC $RPRX

Nisa Investment Advisors LLC decreased its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 76.6% in the third quarter, Holdings Channel.com reports. The firm owned 6,689 shares of the biopharmaceutical company’s stock after selling 21,957 shares during the period. Nisa Investment Advisors LLC’s holdings in Royalty Pharma were worth $236,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. USA Financial Formulas purchased a new stake in shares of Royalty Pharma in the 2nd quarter worth approximately $32,000. Financial Consulate Inc. bought a new stake in Royalty Pharma in the third quarter worth $35,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Royalty Pharma by 42.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 402 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Royalty Pharma by 113.8% during the second quarter. Farther Finance Advisors LLC now owns 1,428 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 760 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Royalty Pharma by 19.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,137 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 344 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RPRX. Leerink Partners set a $45.00 price objective on shares of Royalty Pharma in a research report on Thursday, December 11th. Weiss Ratings cut shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. The Goldman Sachs Group initiated coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price objective for the company. TD Cowen upped their price objective on Royalty Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Morgan Stanley reduced their target price on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Royalty Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $45.60.

Insider Activity at Royalty Pharma

In other Royalty Pharma news, CFO Terrance P. Coyne sold 69,582 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $38.42, for a total value of $2,673,340.44. Following the transaction, the chief financial officer owned 39,760 shares of the company’s stock, valued at approximately $1,527,579.20. This represents a 63.64% 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. Also, EVP Marshall Urist sold 20,000 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $40.78, for a total value of $815,600.00. Following the sale, the executive vice president owned 60,000 shares of the company’s stock, valued at approximately $2,446,800. This represents a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 936,093 shares of company stock worth $36,499,945. 18.90% of the stock is owned by insiders.

Royalty Pharma Stock Down 0.4%

RPRX opened at $39.55 on Friday. The stock has a market capitalization of $22.83 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 1.90 and a beta of 0.43. The firm has a 50 day moving average price of $39.29 and a 200-day moving average price of $37.43. Royalty Pharma PLC has a twelve month low of $29.66 and a twelve month high of $41.70. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.89.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The business had revenue of $609.29 million during the quarter, compared to the consensus estimate of $765.01 million. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. Equities research analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 20th will be issued a $0.235 dividend. The ex-dividend date of this dividend is Friday, February 20th. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 2.4%. Royalty Pharma’s dividend payout ratio is presently 71.21%.

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.