Royalty Pharma PLC $RPRX Stock Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 52.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,492 shares of the biopharmaceutical company’s stock after selling 24,473 shares during the quarter. Park Avenue Securities LLC’s holdings in Royalty Pharma were worth $1,313,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Viewpoint Investment Partners Corp acquired a new position in shares of Royalty Pharma in the third quarter valued at approximately $479,000. Signaturefd LLC boosted its position in Royalty Pharma by 13.4% during the third quarter. Signaturefd LLC now owns 4,818 shares of the biopharmaceutical company’s stock valued at $281,000 after purchasing an additional 569 shares during the last quarter. Wedbush Securities Inc. bought a new position in shares of Royalty Pharma in the third quarter valued at $250,000. Yousif Capital Management LLC grew its position in shares of Royalty Pharma by 7.0% in the 3rd quarter. Yousif Capital Management LLC now owns 7,424 shares of the biopharmaceutical company’s stock valued at $433,000 after acquiring an additional 485 shares during the period. Finally, MBL Wealth LLC increased its position in Royalty Pharma by 7.3% during the third quarter. MBL Wealth LLC now owns 3,908 shares of the biopharmaceutical company’s stock worth $228,000 after buying an additional 266 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on RPRX shares. Morgan Stanley lifted their price objective on shares of Royalty Pharma from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Weiss Ratings raised Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 14th. Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Bank of America reiterated a “buy” rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $61.57.

Royalty Pharma Trading Down 1.0%

Shares of RPRX stock opened at $66.52 on Tuesday. Royalty Pharma PLC has a fifty-two week low of $36.03 and a fifty-two week high of $67.71. The stock’s fifty day moving average price is $60.38 and its two-hundred day moving average price is $53.26. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80. The company has a market cap of $38.25 billion, a PE ratio of 45.88, a P/E/G ratio of 1.78 and a beta of 0.42.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. The business had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. Equities analysts predict that Royalty Pharma PLC will post 5.29 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be given a dividend of $0.2350 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, November 13th. Royalty Pharma’s dividend payout ratio is currently 64.83%.

Insiders Place Their Bets

In other Royalty Pharma news, EVP Christopher Hite sold 100,000 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the transaction, the executive vice president directly owned 270,401 shares in the company, valued at approximately $15,826,570.53. This trade represents a 27.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $57.10, for a total value of $235,594.60. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 208,252 shares of company stock worth $12,324,407. Insiders own 18.84% of the company’s stock.

Royalty Pharma Profile

Royalty Pharma plc (NASDAQ:RPRX) is a biopharmaceutical royalty investment company that provides funding to life sciences companies, academic institutions, and other organizations in exchange for rights to future payments tied to approved or development-stage medicines. Its business model gives innovators access to capital while allowing Royalty Pharma to participate in the long-term commercial success of pharmaceutical products.

The company acquires and manages royalty interests across a broad range of therapeutic areas, including immunology, oncology, neuroscience, rare diseases, and infectious diseases.