Royalty Pharma PLC $RPRX Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth reduced its Royalty Pharma stake by 20.2% in the second quarter, selling 23,453 shares and retaining 92,924 shares valued at approximately $5.21 million. Institutional investors collectively own 54.35% of RPRX.
• Analysts remain positive on the stock, with eight Buy ratings and an average price target of $61.29. Recent targets range from $62 to $68.
• Royalty Pharma reported quarterly EPS of $1.32, exceeding estimates of $1.27, though revenue of $674.14 million fell short of expectations. The company also paid a quarterly dividend of $0.235 per share, equivalent to a 1.6% annualized yield.

Corient Private Wealth LP reduced its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 20.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,924 shares of the biopharmaceutical company's stock after selling 23,453 shares during the period. Corient Private Wealth LP's holdings in Royalty Pharma were worth $5,210,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. LM Advisors LLC acquired a new position in Royalty Pharma during the fourth quarter worth about $26,000. Blue Trust Inc. lifted its position in shares of Royalty Pharma by 173.4% during the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 437 shares during the period. Lloyd Advisory Services LLC. purchased a new position in Royalty Pharma in the 4th quarter valued at approximately $30,000. CoreCap Advisors LLC raised its holdings in Royalty Pharma by 89.2% during the second quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 413 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Royalty Pharma by 34.7% during the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 282 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Analyst Ratings Changes

RPRX has been the subject of several research reports. Morgan Stanley reaffirmed an "overweight" rating and set a $65.00 price target on shares of Royalty Pharma in a research note on Thursday, August 6th. Bank of America restated a "buy" rating on shares of Royalty Pharma in a report on Wednesday, August 5th. JPMorgan Chase & Co. upped 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. TD Cowen increased their price target on shares of Royalty Pharma from $65.00 to $68.00 and gave the company a "buy" rating in a research report on Tuesday, September 8th. Finally, Weiss Ratings raised shares of Royalty Pharma from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, Royalty Pharma presently has an average rating of "Buy" and an average price target of $61.29.

Insider Buying and Selling at Royalty Pharma

In other news, EVP Christopher Hite sold 150,000 shares of the firm's stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the transaction, the executive vice president owned 559,399 shares in the company, valued at approximately $30,431,305.60. This trade represents a 21.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of Royalty Pharma stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total transaction of $508,452.12. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 398,197 shares of company stock worth $22,513,280. 18.84% of the stock is currently owned by company insiders.

Royalty Pharma Stock Down 0.9%

Shares of Royalty Pharma stock opened at $58.41 on Friday. The company has a market cap of $33.59 billion, a P/E ratio of 40.28, a P/E/G ratio of 1.39 and a beta of 0.44. 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 stock has a 50-day moving average price of $59.45 and a 200 day moving average price of $54.08. Royalty Pharma PLC has a 1 year low of $34.63 and a 1 year high of $64.38.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. The business had revenue of $674.14 million for 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, analysts expect that Royalty Pharma PLC will post 5.32 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

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

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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