Royalty Pharma PLC $RPRX Shares Sold by National Pension Service

Key Points

• National Pension Service reduced its Royalty Pharma stake by 4.7% in the second quarter, selling 35,262 shares and retaining 707,178 shares valued at approximately $39.7 million. Institutional investors collectively own 54.35% of the company.
• Royalty Pharma reported quarterly EPS of $1.32, exceeding the $1.27 analyst consensus, while revenue of $674.1 million fell short of expectations. The company paid a quarterly dividend of $0.235, equivalent to a 1.6% annualized yield.
• Analysts maintain a positive outlook, with a consensus “Buy” rating and an average price target of $61.29, compared with the stock’s reported price of $58.61. Several firms set targets between $62 and $66.

National Pension Service reduced its stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 707,178 shares of the biopharmaceutical company's stock after selling 35,262 shares during the period. National Pension Service owned 0.12% of Royalty Pharma worth $39,651,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada boosted its stake in Royalty Pharma by 367.7% during the 1st quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company's stock valued at $6,342,000 after purchasing an additional 160,191 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Royalty Pharma by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company's stock worth $2,490,000 after buying an additional 13,489 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Royalty Pharma in the 1st quarter worth $264,000. Intech Investment Management LLC lifted its holdings in shares of Royalty Pharma by 41.0% in the first quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company's stock valued at $1,494,000 after buying an additional 13,951 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Royalty Pharma by 21.4% in the second quarter. Invesco Ltd. now owns 1,559,378 shares of the biopharmaceutical company's stock valued at $56,184,000 after buying an additional 274,960 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $58.61 on Friday. Royalty Pharma PLC has a one year low of $34.63 and a one year high of $64.38. The stock has a fifty day moving average of $59.33 and a 200-day moving average of $53.62. The company has a market capitalization of $33.70 billion, a PE ratio of 40.42, a price-to-earnings-growth ratio of 1.38 and a beta of 0.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 30.01% and a net margin of 32.14%. As a group, equities analysts anticipate that Royalty Pharma PLC will post 5.32 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were given a $0.235 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma's dividend payout ratio (DPR) is 64.83%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $66.00 target price on shares of Royalty Pharma in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research report on Saturday. 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. Morgan Stanley restated an "overweight" rating and set a $65.00 price objective on shares of Royalty Pharma in a research report on Thursday, August 6th. Finally, Bank of America reaffirmed a "buy" rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $61.29.

Insiders Place Their Bets

In other Royalty Pharma news, EVP Christopher Hite sold 150,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 559,399 shares of the company's stock, valued at approximately $30,431,305.60. This represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total transaction of $508,452.12. 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. Insiders sold a total of 398,197 shares of company stock valued at $22,513,280 in the last quarter. 18.84% of the stock is currently owned by corporate insiders.

Royalty Pharma 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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