Terrance P. Coyne Sells 30,000 Shares of Royalty Pharma plc (NASDAQ:RPRX) Stock

Royalty Pharma plc (NASDAQ:RPRXGet Rating) CFO Terrance P. Coyne sold 30,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $43.19, for a total transaction of $1,295,700.00. Following the transaction, the chief financial officer now owns 970,000 shares of the company’s stock, valued at approximately $41,894,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Royalty Pharma Trading Down 0.8 %

Shares of RPRX opened at $42.51 on Friday. The firm’s 50 day simple moving average is $41.85 and its 200 day simple moving average is $40.66. The company has a market capitalization of $25.81 billion, a P/E ratio of 42.51, a P/E/G ratio of 1.14 and a beta of 0.28. The company has a debt-to-equity ratio of 0.70, a current ratio of 21.95 and a quick ratio of 21.95. Royalty Pharma plc has a 1-year low of $34.86 and a 1-year high of $44.75.

Royalty Pharma (NASDAQ:RPRXGet Rating) last announced its earnings results on Thursday, May 5th. The biopharmaceutical company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.11). The company had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $583.77 million. Royalty Pharma had a net margin of 26.46% and a return on equity of 16.75%. Sell-side analysts forecast that Royalty Pharma plc will post 2.91 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Friday, August 19th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Thursday, August 18th. Royalty Pharma’s dividend payout ratio is currently 76.00%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Royalty Pharma in a research report on Wednesday, April 27th. They set a “buy” rating and a $56.00 price target for the company. Tigress Financial increased their price target on shares of Royalty Pharma from $52.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 14th. Citigroup increased their price target on shares of Royalty Pharma from $50.00 to $60.00 in a research report on Thursday, July 28th. Scotiabank initiated coverage on shares of Royalty Pharma in a research report on Friday, May 13th. They set an “outperform” rating and a $53.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded shares of Royalty Pharma from a “neutral” rating to an “overweight” rating and set a $50.00 target price for the company in a research report on Thursday, April 14th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Royalty Pharma by 10.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 90,284 shares of the biopharmaceutical company’s stock worth $3,796,000 after acquiring an additional 8,700 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of Royalty Pharma by 22.5% during the second quarter. TD Asset Management Inc. now owns 205,777 shares of the biopharmaceutical company’s stock worth $8,651,000 after acquiring an additional 37,742 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Royalty Pharma by 18.8% during the second quarter. Envestnet Asset Management Inc. now owns 10,127 shares of the biopharmaceutical company’s stock worth $426,000 after acquiring an additional 1,603 shares in the last quarter. Torray LLC raised its stake in shares of Royalty Pharma by 5.3% during the second quarter. Torray LLC now owns 139,012 shares of the biopharmaceutical company’s stock worth $5,844,000 after acquiring an additional 6,942 shares in the last quarter. Finally, Estate Counselors LLC purchased a new position in shares of Royalty Pharma during the second quarter worth approximately $1,075,000. 51.68% of the stock is owned by hedge funds and other institutional investors.

About Royalty Pharma

(Get Rating)

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.

Further Reading

Insider Buying and Selling by Quarter for Royalty Pharma (NASDAQ:RPRX)

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