Royalty Pharma PLC $RPRX Shares Sold by Goodman Advisory Group LLC

Key Points

• Goodman Advisory Group LLC cut its stake in Royalty Pharma by 40.8% in Q1, selling 114,596 shares and leaving it with 166,598 shares valued at about $8.0 million.
• Royalty Pharma reported Q1 EPS of $1.30, beating estimates, though revenue of $630.6 million came in below expectations. The company also announced a quarterly dividend of $0.235 per share, or $0.94 annualized, for a 1.7% yield.
• Shares were trading near their 52-week high at $56.23, and analysts remain generally bullish with an average rating of Buy and an average target price of $53.71.

Goodman Advisory Group LLC reduced its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 40.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,598 shares of the biopharmaceutical company's stock after selling 114,596 shares during the quarter. Royalty Pharma comprises about 2.1% of Goodman Advisory Group LLC's investment portfolio, making the stock its 17th largest holding. Goodman Advisory Group LLC's holdings in Royalty Pharma were worth $7,992,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RPRX. LM Advisors LLC acquired a new stake in shares of Royalty Pharma in the 4th quarter worth approximately $26,000. Lloyd Advisory Services LLC. bought a new position in shares of Royalty Pharma in the fourth quarter valued at approximately $30,000. Private Trust Co. NA increased its stake in shares of Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 288 shares during the period. Blue Trust Inc. raised its holdings in Royalty Pharma by 173.4% during the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 437 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Royalty Pharma by 66.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company's stock worth $43,000 after purchasing an additional 446 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Up 2.8%

RPRX stock opened at $56.23 on Friday. Royalty Pharma PLC has a 12 month low of $34.08 and a 12 month high of $56.50. The firm has a market cap of $32.38 billion, a PE ratio of 38.25, a P/E/G ratio of 1.55 and a beta of 0.43. The firm has a 50 day simple moving average of $52.81 and a 200 day simple moving average of $46.59. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.08. The firm had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. Equities research analysts forecast that Royalty Pharma PLC will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, May 15th. Royalty Pharma's payout ratio is presently 63.95%.

Insider Buying and Selling

In other news, CFO Terrance P. Coyne sold 64,399 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total transaction of $3,476,258.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $53.00, for a total value of $161,385.00. Following the sale, the director directly owned 191,803 shares of the company's stock, valued at approximately $10,165,559. This represents a 1.56% decrease in their ownership of the stock. 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 323,492 shares of company stock valued at $17,160,920. Insiders own 18.84% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on RPRX. Weiss Ratings downgraded Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, May 15th. Morgan Stanley boosted their price objective on Royalty Pharma from $61.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. Citigroup upped their price objective on Royalty Pharma from $50.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Wall Street Zen raised Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Finally, JPMorgan Chase & Co. lifted their target price on Royalty Pharma from $50.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $53.71.

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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