California State Teachers Retirement System Decreases Stake in Royalty Pharma PLC $RPRX

California State Teachers Retirement System cut its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 7.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 699,205 shares of the biopharmaceutical company's stock after selling 59,837 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Royalty Pharma worth $39,204,424 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wedmont Private Capital lifted its holdings in shares of Royalty Pharma by 7.0% during the 2nd quarter. Wedmont Private Capital now owns 7,557 shares of the biopharmaceutical company's stock worth $426,000 after acquiring an additional 492 shares during the period. HB Wealth Management LLC raised its holdings in shares of Royalty Pharma by 11.0% during the second quarter. HB Wealth Management LLC now owns 20,240 shares of the biopharmaceutical company's stock valued at $1,135,000 after purchasing an additional 2,011 shares during the period. Saudi Central Bank grew its position in shares of Royalty Pharma by 92.1% during the 2nd quarter. Saudi Central Bank now owns 28,773 shares of the biopharmaceutical company's stock valued at $1,613,000 after acquiring an additional 13,791 shares during the period. Odyssean LLC raised its stake in Royalty Pharma by 65.3% in the second quarter. Odyssean LLC now owns 54,179 shares of the biopharmaceutical company's stock valued at $3,038,000 after purchasing an additional 21,401 shares in the last quarter. Finally, Raiffeisen Bank International AG raised its stake in shares of Royalty Pharma by 4.1% during the second quarter. Raiffeisen Bank International AG now owns 19,172 shares of the biopharmaceutical company's stock valued at $1,095,000 after acquiring an additional 758 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RPRX shares. Morgan Stanley reiterated an "overweight" rating and issued a $65.00 price target on shares of Royalty Pharma in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their price target on Royalty Pharma from $58.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. TD Cowen increased their target price on shares of Royalty Pharma from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Tuesday, September 8th. Weiss Ratings restated a "buy (b-)" rating on shares of Royalty Pharma in a research report on Wednesday, August 12th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $66.00 price target on shares of Royalty Pharma in a report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $61.29.

Insider Transactions at Royalty Pharma

In other Royalty Pharma news, EVP Marshall Urist sold 9,099 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total transaction of $508,452.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $59.97, for a total transaction of $5,997,000.00. Following the completion of the transaction, the executive vice president owned 370,401 shares of the company's stock, valued at $22,212,947.97. This trade represents a 21.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 398,197 shares of company stock worth $22,513,280. Corporate insiders own 18.84% of the company's stock.

Royalty Pharma Stock Down 1.1%

Shares of RPRX stock traded down $0.65 during trading hours on Tuesday, hitting $58.41. 1,149,157 shares of the company's stock traded hands, compared to its average volume of 3,466,254. Royalty Pharma PLC has a 12-month low of $34.63 and a 12-month high of $64.38. The stock's fifty day simple moving average is $59.38 and its two-hundred day simple moving average is $53.77. 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 $33.58 billion, a price-to-earnings ratio of 40.30, a PEG ratio of 1.38 and a beta of 0.44.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.05. The firm had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. On average, analysts expect that Royalty Pharma PLC will post 5.32 EPS for the current year.

Royalty Pharma Announces Dividend

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

Royalty Pharma 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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