Royalty Pharma PLC $RPRX Stock Holdings Lowered by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC cut its position in Royalty Pharma PLC (NASDAQ:RPRX) by 13.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 770,422 shares of the biopharmaceutical company’s stock after selling 120,418 shares during the quarter. Royalty Pharma makes up about 0.7% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 28th largest position. Wedge Capital Management L L P NC’s holdings in Royalty Pharma were worth $43,198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in RPRX. LM Advisors LLC bought a new position in Royalty Pharma in the 4th quarter worth approximately $26,000. Lloyd Advisory Services LLC. bought a new stake in Royalty Pharma during the 4th quarter valued at $30,000. Private Trust Co. NA boosted its position in Royalty Pharma by 52.9% during the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 288 shares during the period. Blue Trust Inc. boosted its position in Royalty Pharma by 173.4% during the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 437 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Royalty Pharma by 66.4% in 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. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RPRX shares. Wall Street Zen lowered Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. 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. UBS Group boosted their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $66.00 price target on shares of Royalty Pharma in a research note on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $60.86.

Insider Buying and Selling at Royalty Pharma

In other news, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $56.52, for a total value of $5,652,000.00. Following the transaction, the executive vice president owned 459,399 shares of the company’s stock, valued at $25,965,231.48. The trade was a 17.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 the business’s stock in a transaction that occurred on 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 393,009 shares of company stock valued at $21,601,827 over the last 90 days. Insiders own 18.84% of the company’s stock.

Royalty Pharma Stock Down 0.3%

Shares of RPRX stock opened at $57.79 on Wednesday. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $60.44. The stock has a market cap of $33.28 billion, a PE ratio of 39.86, a price-to-earnings-growth ratio of 1.35 and a beta of 0.43. The business’s fifty day moving average is $56.60 and its 200-day moving average is $50.80. 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) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The business had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. Equities analysts expect that Royalty Pharma PLC will post 5.3 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a $0.235 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.94 annualized dividend and a yield of 1.6%. Royalty Pharma’s payout ratio is 64.83%.

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.