Royalty Pharma PLC $RPRX Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its position in Royalty Pharma PLC (NASDAQ:RPRX) by 25.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,084 shares of the biopharmaceutical company’s stock after selling 37,988 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Royalty Pharma were worth $3,954,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RPRX. Swedbank AB raised its stake in Royalty Pharma by 0.4% in the third quarter. Swedbank AB now owns 12,200,270 shares of the biopharmaceutical company’s stock valued at $430,426,000 after buying an additional 42,800 shares during the last quarter. State Street Corp lifted its stake in Royalty Pharma by 7.1% during the 2nd quarter. State Street Corp now owns 10,194,938 shares of the biopharmaceutical company’s stock valued at $367,324,000 after acquiring an additional 678,810 shares during the period. 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 valued at $299,494,000 after acquiring an additional 177,036 shares during the last quarter. Norges Bank purchased a new position in shares of Royalty Pharma during the 2nd quarter valued at about $181,388,000. Finally, Patient Capital Management LLC grew its holdings in Royalty Pharma by 4.3% during the third quarter. Patient Capital Management LLC now owns 3,117,850 shares of the biopharmaceutical company’s stock worth $109,998,000 after acquiring an additional 129,862 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RPRX shares. TD Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a report on Thursday, December 11th. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Royalty Pharma in a research report on Thursday. Leerink Partners set a $45.00 price objective on Royalty Pharma in a report on Thursday, December 11th. Finally, The Goldman Sachs Group began coverage on Royalty Pharma in a research report on Tuesday, September 30th. They set a “buy” rating and a $42.00 target price on the stock. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.60.

Insiders Place Their Bets

In other Royalty Pharma news, EVP George W. Lloyd sold 30,654 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $38.50, for a total value of $1,180,179.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Terrance P. Coyne sold 69,582 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $39.35, for a total transaction of $2,738,051.70. Following the completion of the sale, the chief financial officer directly owned 36,010 shares of the company’s stock, valued at approximately $1,416,993.50. This trade represents a 65.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,025,675 shares of company stock valued at $40,028,396 in the last three months. 18.90% of the stock is currently owned by insiders.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $40.40 on Monday. The company has a market cap of $23.32 billion, a PE ratio of 30.61, a price-to-earnings-growth ratio of 1.54 and a beta of 0.43. The stock’s 50 day simple moving average is $39.35 and its 200-day simple moving average is $37.58. Royalty Pharma PLC has a 1-year low of $29.66 and a 1-year high of $41.70. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.48 and a quick ratio of 3.48.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.11 by $0.06. The firm had revenue of $609.29 million during the quarter, compared to the consensus estimate of $765.01 million. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%. As a group, equities research analysts anticipate that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th will be paid a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 2.3%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, February 20th. Royalty Pharma’s dividend payout ratio is presently 66.67%.

About Royalty Pharma

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.