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 position by 28.7% in the second quarter, selling 189,895 shares and retaining 471,881 shares worth approximately $26.5 million. Institutional investors collectively own 54.35% of RPRX.
• Analysts remain broadly positive, with a consensus “Buy” rating and a $61.29 price target; TD Cowen recently raised its target to $68, while Morgan Stanley and JPMorgan also maintain overweight ratings.
• Royalty Pharma reported quarterly EPS of $1.32, exceeding the $1.27 consensus estimate, though revenue of $674.14 million fell short of expectations. The company also declared a quarterly dividend of $0.235 per share, representing a 1.6% yield.

C WorldWide Group Holding A S lowered its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 28.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 471,881 shares of the biopharmaceutical company's stock after selling 189,895 shares during the quarter. Royalty Pharma makes up approximately 0.7% of C WorldWide Group Holding A S's holdings, making the stock its 26th biggest holding. C WorldWide Group Holding A S owned approximately 0.08% of Royalty Pharma worth $26,458,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barton Investment Management purchased a new position in Royalty Pharma during the first quarter worth about $905,000. Nomura Asset Management Co. Ltd. grew its holdings in Royalty Pharma by 16.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company's stock valued at $6,662,000 after buying an additional 24,048 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Royalty Pharma by 10.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 233,320 shares of the biopharmaceutical company's stock valued at $9,016,000 after acquiring an additional 22,015 shares during the last quarter. Qsemble Capital Management LP acquired a new position in shares of Royalty Pharma during the 4th quarter valued at about $2,875,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Royalty Pharma during the 4th quarter worth about $4,923,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Royalty Pharma news, EVP Christopher Hite sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was 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 owned 370,401 shares in the company, valued at $22,212,947.97. This represents a 21.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total transaction 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 quarter, insiders have sold 398,197 shares of company stock worth $22,513,280. Company insiders own 18.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RPRX shares. Morgan Stanley reissued an "overweight" rating and issued a $65.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Wall Street Zen cut shares of Royalty Pharma from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 30th. TD Cowen increased their target price on Royalty Pharma from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Bank of America reiterated 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 company presently has a consensus rating of "Buy" and a consensus price target of $61.29.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $60.59 on Wednesday. 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 $34.84 billion, a PE ratio of 41.79, a P/E/G ratio of 1.49 and a beta of 0.44. The company's fifty day simple moving average is $59.20 and its 200-day simple moving average is $53.38. 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 results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share 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 analysts' expectations of $758.93 million. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. As a group, equities research analysts anticipate that Royalty Pharma PLC will post 5.3 EPS for the current year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma's dividend payout ratio (DPR) is presently 64.83%.

Royalty Pharma Company 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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