Royalty Pharma PLC $RPRX Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC cut its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 41.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,515 shares of the biopharmaceutical company’s stock after selling 13,876 shares during the quarter. Sterling Capital Management LLC’s holdings in Royalty Pharma were worth $936,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. LM Advisors LLC acquired a new stake in Royalty Pharma during the 4th quarter worth about $26,000. Blue Trust Inc. boosted its holdings in shares of Royalty Pharma by 173.4% in the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 437 shares during the period. Lloyd Advisory Services LLC. purchased a new position in shares of Royalty Pharma in the fourth quarter worth approximately $30,000. Private Trust Co. NA raised its holdings in shares of Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 288 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Royalty Pharma by 66.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 446 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Stock Down 1.8%

RPRX opened at $56.07 on Wednesday. The company has a market capitalization of $32.29 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of 1.57 and a beta of 0.43. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $57.22. The business has a 50-day moving average of $53.10 and a 200-day moving average of $46.90.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. The business had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. Equities research analysts forecast that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a dividend of $0.235 per share. The ex-dividend date was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.7%. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

Analysts Set New Price Targets

RPRX has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. UBS Group lifted their price target on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Citigroup upped their price target on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley increased their price objective on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $53.71.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, CFO Terrance P. Coyne sold 64,399 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total transaction of $3,476,258.02. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.06, for a total value of $726,073.04. Following the transaction, the executive vice president owned 31,881 shares in the company, valued at approximately $1,691,605.86. This trade represents a 30.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 288,701 shares of company stock worth $15,479,471 over the last quarter. Company insiders own 18.84% of the company’s stock.

Royalty Pharma 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.