42,609 Royalty Pharma PLC $RPRX Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing cut its Royalty Pharma stake by 53.4% in the third quarter, selling 42,609 shares and retaining 37,171 shares valued at $2.17 million. Institutional investors collectively own 54.35% of the company.
• Analysts remain broadly bullish: eight analysts rate RPRX a Buy, with a consensus price target of $61.57; Morgan Stanley recently raised its target to $67.
• Royalty Pharma reported quarterly EPS of $1.32, exceeding estimates, and declared a quarterly dividend of $0.235, equivalent to a 1.5% annual yield.

Inspire Investing LLC decreased its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 53.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,171 shares of the biopharmaceutical company's stock after selling 42,609 shares during the quarter. Inspire Investing LLC's holdings in Royalty Pharma were worth $2,169,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RPRX. Blue Trust Inc. raised 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 last quarter. CoreCap Advisors LLC lifted its stake in shares of Royalty Pharma by 89.2% during the second quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 413 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Royalty Pharma during the third quarter valued at $62,000. Bessemer Group Inc. grew its holdings in shares of Royalty Pharma by 34.7% during the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 282 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Royalty Pharma by 263.3% during the second quarter. IFP Advisors Inc now owns 1,188 shares of the biopharmaceutical company's stock valued at $67,000 after buying an additional 861 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on RPRX. The Goldman Sachs Group reissued a "buy" rating and issued a $66.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on Royalty Pharma from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Wall Street Zen cut Royalty Pharma from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 26th. Morgan Stanley boosted their price target on Royalty Pharma from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Wednesday, October 7th. Finally, Bank of America reissued a "buy" rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $61.57.

Insiders Place Their Bets

In related news, EVP Marshall Urist sold 4,126 shares of the firm's stock in a transaction on Monday, October 5th. The shares were sold at an average price of $57.10, for a total transaction of $235,594.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the business's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the transaction, the executive vice president owned 270,401 shares of the company's stock, valued at $15,826,570.53. This represents a 27.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 208,252 shares of company stock worth $12,324,407 in the last quarter. Company insiders own 18.84% of the company's stock.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $63.86 on Monday. Royalty Pharma PLC has a twelve month low of $35.92 and a twelve month high of $64.38. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88. The company has a market cap of $36.72 billion, a PE ratio of 44.04, a price-to-earnings-growth ratio of 1.75 and a beta of 0.42. The company's 50 day moving average is $59.83 and its 200 day moving average is $56.28.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The business had revenue of $674.14 million during the quarter, compared to analysts' expectations of $758.93 million. On average, sell-side analysts forecast that Royalty Pharma PLC will post 5.29 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be paid a $0.2350 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.5%. Royalty Pharma's dividend payout ratio is presently 64.83%.

Royalty Pharma Company Profile

Royalty Pharma plc NASDAQ: RPRX is a biopharmaceutical royalty investment company that provides funding to life sciences companies, academic institutions, and other organizations in exchange for rights to future payments tied to approved or development-stage medicines. Its business model gives innovators access to capital while allowing Royalty Pharma to participate in the long-term commercial success of pharmaceutical products.

The company acquires and manages royalty interests across a broad range of therapeutic areas, including immunology, oncology, neuroscience, rare diseases, and infectious diseases.

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