Royalty Pharma PLC $RPRX Shares Sold by Swedbank AB

Swedbank AB lessened its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 3.0% in the 1st quarter, HoldingsChannel reports. The firm owned 11,586,693 shares of the biopharmaceutical company’s stock after selling 355,450 shares during the quarter. Swedbank AB’s holdings in Royalty Pharma were worth $555,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Collaborative Fund Advisors LLC acquired a new stake in Royalty Pharma during the 1st quarter worth about $724,000. DGS Capital Management LLC acquired a new position in shares of Royalty Pharma in the 1st quarter valued at about $260,000. HB Wealth Management LLC lifted its holdings in shares of Royalty Pharma by 23.7% in the 1st quarter. HB Wealth Management LLC now owns 18,229 shares of the biopharmaceutical company’s stock valued at $874,000 after buying an additional 3,488 shares during the period. Moran Wealth Management LLC boosted its stake in shares of Royalty Pharma by 28.2% in the first quarter. Moran Wealth Management LLC now owns 175,822 shares of the biopharmaceutical company’s stock worth $8,434,000 after buying an additional 38,629 shares during the last quarter. Finally, Sierra Summit Advisors LLC boosted its stake in shares of Royalty Pharma by 4.6% in the first quarter. Sierra Summit Advisors LLC now owns 21,165 shares of the biopharmaceutical company’s stock worth $1,015,000 after buying an additional 924 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on RPRX. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Citigroup upped their price objective on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings cut shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Morgan Stanley raised their price objective on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Finally, UBS Group lifted their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $53.71.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX traded up $0.92 during trading on Tuesday, reaching $57.84. 576,038 shares of the company’s stock traded hands, compared to its average volume of 3,675,351. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $58.18. The company has a 50-day simple moving average of $53.70 and a 200-day simple moving average of $47.43. The firm has a market cap of $33.31 billion, a PE ratio of 39.39, a P/E/G ratio of 1.59 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The company had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. As a group, analysts predict that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a $0.235 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s payout ratio is 63.95%.

Insiders Place Their Bets

In related news, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the business’s stock in a transaction 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 directly owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. The trade was a 1.56% decrease in their position. 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. In the last 90 days, insiders sold 427,800 shares of company stock valued at $23,333,723. Corporate insiders own 18.84% of the company’s stock.

About Royalty Pharma

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.