Andra AP fonden Lowers Stock Holdings in Royalty Pharma PLC $RPRX

Key Points

• Andra AP fonden cut its Royalty Pharma stake by 21.1% in the second quarter, selling 37,400 shares and retaining 140,100 shares valued at approximately $7.9 million. Institutional investors collectively own 54.35% of RPRX.
• Royalty Pharma insiders have sold 239,099 shares worth about $13.9 million over the past 90 days, including a 100,000-share sale by EVP Christopher Hite under a pre-arranged trading plan.
• RPRX reported quarterly EPS of $1.32, beating estimates, and pays a $0.235 quarterly dividend for a 1.6% yield. Analysts maintain a consensus “Buy” rating with an average price target of $61.29.

Andra AP fonden lowered its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 21.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,100 shares of the biopharmaceutical company's stock after selling 37,400 shares during the period. Andra AP fonden's holdings in Royalty Pharma were worth $7,855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RPRX. LM Advisors LLC bought a new position in shares of Royalty Pharma during the fourth quarter valued at about $26,000. Blue Trust Inc. grew its position in Royalty Pharma by 173.4% during the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 437 shares during the last quarter. CoreCap Advisors LLC grew its position in Royalty Pharma by 89.2% during the 2nd quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 413 shares during the last quarter. Bessemer Group Inc. increased its stake in Royalty Pharma by 34.7% in 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. Finally, IFP Advisors Inc lifted its position in Royalty Pharma by 263.3% in the second quarter. IFP Advisors Inc now owns 1,188 shares of the biopharmaceutical company's stock valued at $67,000 after purchasing an additional 861 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Royalty Pharma

In related news, EVP Christopher Hite sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $59.97, for a total value of $5,997,000.00. Following the completion of the transaction, the executive vice president directly owned 370,401 shares in the company, valued at $22,212,947.97. The trade was a 21.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the company'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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 239,099 shares of company stock valued at $13,851,252. 18.84% of the stock is owned by company insiders.

Royalty Pharma Stock Performance

Shares of RPRX opened at $58.52 on Wednesday. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. The stock has a market cap of $33.65 billion, a P/E ratio of 40.36, a P/E/G ratio of 1.38 and a beta of 0.44. The business's 50 day moving average price is $59.55 and its 200-day moving average price is $54.28. Royalty Pharma PLC has a 52 week low of $34.63 and a 52 week high of $64.38.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.05. The business had revenue of $674.14 million during the quarter, compared to analysts' expectations of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. Equities research analysts anticipate that Royalty Pharma PLC will post 5.32 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 14th. Royalty Pharma's dividend payout ratio is 64.83%.

Analysts Set New Price Targets

RPRX has been the subject of a number of analyst reports. TD Cowen increased their price objective on Royalty Pharma from $65.00 to $68.00 and gave the company a "buy" rating in a research note on Tuesday, September 8th. Morgan Stanley reiterated an "overweight" rating and set a $65.00 price target on shares of Royalty Pharma in a report on Thursday, August 6th. Bank of America reissued a "buy" rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Wall Street Zen raised shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Royalty Pharma from $58.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $61.29.

Royalty Pharma Company Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to life sciences companies in exchange for rights to receive future royalty payments from commercialized or late-stage therapies. Rather than developing and marketing medicines itself, the company invests in pharmaceutical and biotechnology innovations and seeks to generate income from the resulting royalty streams.

Its portfolio is linked to a range of therapies across areas including oncology, immunology, neuroscience, rare diseases and other specialty markets.

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