Royalty Pharma PLC $RPRX Shares Sold by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Royalty Pharma by 76.6% in the first quarter, selling 68,946 shares and ending with 21,089 shares valued at about $1.0 million.
• Royalty Pharma reported Q1 EPS of $1.30, beating analyst expectations of $1.22, though revenue of $630.6 million came in below forecasts.
• Wall Street remains constructive on the stock, with several firms raising price targets and the consensus rating standing at Buy with an average target price of $56.57.

J. Safra Sarasin Holding AG cut its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 76.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,089 shares of the biopharmaceutical company's stock after selling 68,946 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Royalty Pharma were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Barton Investment Management purchased a new stake in Royalty Pharma in the first quarter valued at approximately $905,000. Nomura Asset Management Co. Ltd. raised its stake in Royalty Pharma by 16.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company's stock worth $6,662,000 after purchasing an additional 24,048 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Royalty Pharma during the fourth quarter worth approximately $4,923,000. Qsemble Capital Management LP acquired a new position in shares of Royalty Pharma in the 4th quarter valued at $2,875,000. Finally, Nordea Investment Management AB boosted its holdings in shares of Royalty Pharma by 4.7% in the 4th quarter. Nordea Investment Management AB now owns 812,663 shares of the biopharmaceutical company's stock valued at $31,604,000 after purchasing an additional 36,664 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $55.67 on Wednesday. Royalty Pharma PLC has a 12-month low of $34.08 and a 12-month high of $58.84. The company has a market capitalization of $32.06 billion, a price-to-earnings ratio of 37.87, a price-to-earnings-growth ratio of 10.02 and a beta of 0.43. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The firm's fifty day moving average price is $54.58 and its 200 day moving average price is $48.20.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The firm had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. On average, research analysts forecast that Royalty Pharma PLC will post 5.17 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RPRX. TD Cowen increased their target price on Royalty Pharma from $50.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday. Wall Street Zen upgraded Royalty Pharma from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. JPMorgan Chase & Co. lifted their price objective on Royalty Pharma from $50.00 to $58.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Citigroup increased their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, UBS Group lifted their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Royalty Pharma currently has a consensus rating of "Buy" and an average target price of $56.57.

Insiders Place Their Bets

In other Royalty Pharma news, Director Gregory Norden sold 3,045 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the sale, the director owned 191,803 shares in the company, valued at $10,165,559. This trade represents a 1.56% decrease in their position. The sale was disclosed in a document filed 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 Royalty Pharma stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value 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. Insiders have sold 427,800 shares of company stock worth $23,333,723 in the last quarter. Company insiders own 18.84% of the company's stock.

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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