Royalty Pharma PLC $RPRX Shares Sold by Empowered Funds LLC

Empowered Funds LLC decreased its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 21.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 228,996 shares of the biopharmaceutical company’s stock after selling 63,092 shares during the period. Empowered Funds LLC’s holdings in Royalty Pharma were worth $10,985,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Phillips Wealth Planners LLC increased its position in shares of Royalty Pharma by 1.9% in the fourth quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock worth $521,000 after acquiring an additional 242 shares in the last quarter. Strs Ohio lifted its holdings in shares of Royalty Pharma by 2.8% during the 4th quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 252 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Royalty Pharma by 0.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock valued at $1,673,000 after acquiring an additional 255 shares in the last quarter. Cary Street Partners Financial LLC boosted its position in Royalty Pharma by 1.1% during the 4th quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock worth $943,000 after purchasing an additional 260 shares during the period. Finally, Bessemer Group Inc. boosted its position in Royalty Pharma by 34.7% during the 1st quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 282 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Insiders Place Their Bets

In other Royalty Pharma news, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, May 26th. The stock was 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of Royalty Pharma 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 in the company, valued at $10,165,559. This represents a 1.56% 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. In the last ninety days, insiders have sold 393,009 shares of company stock worth $21,601,827. 18.84% of the stock is owned by insiders.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $59.02 on Friday. Royalty Pharma PLC has a 12-month low of $34.08 and a 12-month high of $60.44. The company has a market capitalization of $33.99 billion, a price-to-earnings ratio of 40.15, a price-to-earnings-growth ratio of 10.48 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. The firm’s fifty day moving average price is $56.11 and its 200 day moving average price is $49.80.

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

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 annualized dividend and a dividend yield of 1.6%. Royalty Pharma’s payout ratio is 63.95%.

Analysts Set New Price Targets

Several research firms have commented on RPRX. TD Cowen raised their price objective on Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 13th. 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 increased their target price on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Citigroup raised their target price on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $56.57.

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.