Royalty Pharma PLC $RPRX Stake Lessened by California State Teachers Retirement System

California State Teachers Retirement System cut its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 2.9% during the 1st quarter, HoldingsChannel reports. The fund owned 759,042 shares of the biopharmaceutical company’s stock after selling 22,477 shares during the period. California State Teachers Retirement System’s holdings in Royalty Pharma were worth $36,411,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. LM Advisors LLC acquired a new position in Royalty Pharma during the 4th quarter worth $26,000. Blue Trust Inc. raised its stake in shares of Royalty Pharma by 173.4% in the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 437 shares in the last quarter. Lloyd Advisory Services LLC. bought a new position in shares of Royalty Pharma during the fourth quarter worth about $30,000. Private Trust Co. NA lifted its position 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 worth $32,000 after purchasing an additional 288 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in Royalty Pharma by 34.7% in the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 282 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Gregory Norden sold 3,045 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the sale, the director owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. This trade represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total value of $508,452.12. 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 90 days, insiders sold 393,009 shares of company stock worth $21,601,827. Company insiders own 18.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley boosted their price objective on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, April 10th. JPMorgan Chase & Co. lifted their target price on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. UBS Group boosted 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, Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $56.57.

Royalty Pharma Trading Down 1.0%

NASDAQ RPRX opened at $58.43 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. Royalty Pharma PLC has a one year low of $34.08 and a one year high of $60.44. The company has a 50-day simple moving average of $56.19 and a 200-day simple moving average of $49.86. The firm has a market capitalization of $33.65 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 10.45 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The firm had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. On average, equities analysts forecast that Royalty Pharma PLC will post 5.18 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma’s dividend payout ratio is presently 63.95%.

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.