Royalty Pharma PLC $RPRX Shares Sold by Bryn Mawr Trust Advisors LLC

Key Points

• Bryn Mawr Trust Advisors cut its Royalty Pharma stake by 11% in the third quarter, selling 33,503 shares and ending the period with 272,283 shares valued at about $15.9 million.
• Analysts remain broadly positive: eight rate the stock a Buy, with an average price target of $63.29; Citigroup raised its target to $78.
• Royalty Pharma declared a quarterly dividend of $0.235 per share, equivalent to an annualized yield of 1.4%. Insiders sold 208,252 shares worth about $12.3 million over the past 90 days.

Bryn Mawr Trust Advisors LLC lessened its stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 11.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,283 shares of the biopharmaceutical company's stock after selling 33,503 shares during the quarter. Bryn Mawr Trust Advisors LLC's holdings in Royalty Pharma were worth $15,890,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hohimer Wealth Management LLC bought a new position in Royalty Pharma during the 3rd quarter worth about $8,399,000. M Holdings Securities Inc. acquired a new stake in shares of Royalty Pharma in the 3rd quarter valued at about $297,000. Ethic Inc. lifted its holdings in shares of Royalty Pharma by 37.6% in the third quarter. Ethic Inc. now owns 6,324 shares of the biopharmaceutical company's stock valued at $369,000 after purchasing an additional 1,727 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Royalty Pharma by 13.2% in the third quarter. Pictet Asset Management Holding SA now owns 343,561 shares of the biopharmaceutical company's stock valued at $20,041,000 after purchasing an additional 40,095 shares in the last quarter. Finally, Calamos Wealth Management LLC lifted its holdings in shares of Royalty Pharma by 3.8% in the third quarter. Calamos Wealth Management LLC now owns 196,188 shares of the biopharmaceutical company's stock valued at $11,450,000 after purchasing an additional 7,224 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on RPRX. Wall Street Zen cut Royalty Pharma from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 26th. 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. Bank of America restated a "buy" rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Citigroup boosted their target price on Royalty Pharma from $70.00 to $78.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Morgan Stanley upped their price target on Royalty Pharma from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 7th. Eight research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $63.29.

Insider Activity

In other news, EVP Marshall Urist sold 4,126 shares of the firm's stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $57.10, for a total value of $235,594.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 dated Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the sale, the executive vice president directly owned 270,401 shares in the company, valued at approximately $15,826,570.53. This represents a 27.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 208,252 shares of company stock valued at $12,324,407 in the last 90 days. 18.84% of the stock is owned by corporate insiders.

Royalty Pharma Price Performance

Shares of RPRX stock opened at $67.30 on Monday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.77. Royalty Pharma PLC has a 1 year low of $37.31 and a 1 year high of $69.77. The firm's fifty day moving average price is $60.82 and its two-hundred day moving average price is $53.81. The firm has a market capitalization of $38.70 billion, a P/E ratio of 56.08, a PEG ratio of 1.33 and a beta of 0.36.

Royalty Pharma Announces Dividend

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 dividend of $0.2350 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Royalty Pharma's dividend payout ratio is currently 78.33%.

Royalty Pharma Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to companies and inventors in exchange for royalty interests in medicines. It acquires existing royalties and helps finance drug development and commercialization through royalty-based transactions and other forms of funding.

The company's portfolio includes royalty interests in medicines across a range of therapeutic areas, spanning both approved treatments and products in development. Royalty Pharma generally earns revenue when these medicines are sold; it does not operate as a conventional drug manufacturer or commercialize medicines itself.

Founded in 1996 by Pablo Legorreta, the company became publicly listed in 2020.

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