Royalty Pharma PLC $RPRX Shares Sold by C WorldWide Group Holding A S

Key Points

• C WorldWide Group Holding A S cut its Royalty Pharma stake by 5.5% in the first quarter, selling 38,685 shares and ending with 661,776 shares valued at about $31.7 million.
• Insider selling was notable, with EVP Marshall Urist and Director Gregory Norden both selling shares on May 14; insiders have sold 427,800 shares worth $23.3 million over the last 90 days.
• Royalty Pharma beat quarterly EPS estimates with $1.30 per share, and analysts remain bullish, with multiple firms raising price targets and the consensus rating staying at Buy.

C WorldWide Group Holding A S trimmed its stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 5.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 661,776 shares of the biopharmaceutical company's stock after selling 38,685 shares during the quarter. Royalty Pharma makes up about 0.7% of C WorldWide Group Holding A S's investment portfolio, making the stock its 21st largest holding. C WorldWide Group Holding A S owned about 0.11% of Royalty Pharma worth $31,745,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Morgan Stanley lifted its position in Royalty Pharma by 25.2% in the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company's stock valued at $2,135,790,000 after purchasing an additional 11,110,115 shares during the last quarter. Capital International Investors increased its position in Royalty Pharma by 14.3% in the 4th quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company's stock valued at $1,201,870,000 after acquiring an additional 3,891,615 shares during the period. State Street Corp raised its stake in Royalty Pharma by 3.7% during the 4th quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company's stock valued at $411,502,000 after acquiring an additional 376,888 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Royalty Pharma by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company's stock worth $297,465,000 after purchasing an additional 102,430 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Royalty Pharma by 9.7% in the fourth quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company's stock worth $197,331,000 after purchasing an additional 449,498 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Insider Buying and Selling

In related news, EVP Marshall Urist sold 13,684 shares of Royalty Pharma stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.06, for a total value of $726,073.04. Following the transaction, the executive vice president owned 31,881 shares of the company's stock, valued at approximately $1,691,605.86. This trade represents a 30.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the sale, the director owned 191,803 shares in the company, valued at approximately $10,165,559. The trade was a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 427,800 shares of company stock worth $23,333,723. Company insiders own 18.84% of the company's stock.

Royalty Pharma Stock Performance

RPRX opened at $58.53 on Friday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. The firm has a market cap of $33.70 billion, a PE ratio of 39.82, a P/E/G ratio of 9.97 and a beta of 0.43. The business has a fifty day simple moving average of $54.86 and a 200-day simple moving average of $48.46. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $58.84.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The company had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. As a group, equities analysts predict that Royalty Pharma PLC will post 5.18 EPS for the current fiscal year.

Analysts Set New Price Targets

RPRX has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. TD Cowen increased their target price on shares of Royalty Pharma from $50.00 to $65.00 and gave the company a "buy" rating in a research report on Monday. Citigroup raised their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Finally, Wall Street Zen raised Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $56.57.

Royalty Pharma Profile

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company's transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.

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