Terrance Coyne Sells 69,582 Shares of Royalty Pharma (NASDAQ:RPRX) Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 69,582 shares of Royalty Pharma stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $39.35, for a total value of $2,738,051.70. Following the completion of the transaction, the chief financial officer 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Royalty Pharma Price Performance

NASDAQ RPRX traded up $0.29 during trading hours on Friday, hitting $40.40. The company had a trading volume of 3,533,985 shares, compared to its average volume of 3,959,286. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. The firm has a market capitalization of $23.32 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 1.52 and a beta of 0.43. Royalty Pharma PLC has a 52 week low of $29.66 and a 52 week high of $41.70. The firm has a 50 day simple moving average of $39.32 and a 200 day simple moving average of $37.52.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The firm had revenue of $609.29 million for the quarter, compared to the consensus estimate of $765.01 million. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. Equities research analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Capital International Investors boosted its stake in shares of Royalty Pharma by 24.4% during the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock valued at $960,064,000 after purchasing an additional 5,332,074 shares in the last quarter. Swedbank AB increased its holdings in shares of Royalty Pharma by 0.4% in the 3rd quarter. Swedbank AB now owns 12,200,270 shares of the biopharmaceutical company’s stock worth $430,426,000 after purchasing an additional 42,800 shares in the last quarter. State Street Corp lifted its holdings in shares of Royalty Pharma by 0.8% during the third quarter. State Street Corp now owns 10,272,753 shares of the biopharmaceutical company’s stock valued at $362,423,000 after purchasing an additional 77,815 shares in the last quarter. Geode Capital Management LLC lifted its stake in Royalty Pharma by 2.2% during 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 period. Finally, Norges Bank bought a new stake in Royalty Pharma in the 2nd quarter worth approximately $181,388,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RPRX. Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th. Leerink Partners set a $45.00 price objective on shares of Royalty Pharma in a report on Thursday, December 11th. The Goldman Sachs Group assumed coverage on Royalty Pharma in a research note on Tuesday, September 30th. They issued a “buy” rating and a $42.00 target price on the stock. Morgan Stanley reduced their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Finally, TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research note on Thursday, December 11th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.60.

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.