Christopher Hite Sells 100,000 Shares of Royalty Pharma (NASDAQ:RPRX) Stock

Royalty Pharma PLC (NASDAQ:RPRX) EVP Christopher Hite sold 100,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $59.97, for a total value of $5,997,000.00. Following the sale, the executive vice president owned 370,401 shares in the company, valued at approximately $22,212,947.97. The trade was a 21.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Christopher Hite also recently made the following trade(s):

• On Tuesday, June 30th, Christopher Hite sold 100,000 shares of Royalty Pharma stock. The stock was sold at an average price of $56.52, for a total value of $5,652,000.00.
• On Tuesday, June 30th, Christopher Hite sold 30,000 shares of Royalty Pharma stock. The stock was sold at an average price of $56.46, for a total value of $1,693,800.00.
• On Tuesday, June 23rd, Christopher Hite sold 150,000 shares of Royalty Pharma stock. The stock was sold at an average price of $54.40, for a total value of $8,160,000.00.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $60.58 on Friday. The business’s 50 day moving average price is $57.24 and its 200 day moving average price is $51.74. The firm has a market cap of $34.83 billion, a P/E ratio of 41.78, a P/E/G ratio of 1.44 and a beta of 0.43. Royalty Pharma PLC has a 52 week low of $34.08 and a 52 week high of $62.13. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The company had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. On average, sell-side analysts expect that Royalty Pharma PLC will post 5.3 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a $0.235 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio is presently 64.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barton Investment Management purchased a new stake in shares of Royalty Pharma during the first quarter worth $905,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Royalty Pharma by 16.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock worth $6,662,000 after buying an additional 24,048 shares in the last quarter. Qsemble Capital Management LP purchased a new position in shares of Royalty Pharma in the fourth quarter worth about $2,875,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Royalty Pharma in the fourth quarter worth about $4,923,000. Finally, Thrivent Financial for Lutherans boosted its position in Royalty Pharma by 10.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 233,320 shares of the biopharmaceutical company’s stock worth $9,016,000 after acquiring an additional 22,015 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Ratings Changes

RPRX has been the topic of several recent research reports. Wall Street Zen lowered shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Royalty Pharma in a research note on Wednesday, August 12th. Citigroup boosted their price objective on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 7th. TD Cowen upped their target price on Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $66.00 target price on shares of Royalty Pharma in a report on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $60.86.

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.