Royalty Pharma PLC $RPRX Stock Sold by Torray Investment Partners LLC

Torray Investment Partners LLC reduced its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 6.2% during the third quarter, Holdings Channel.com reports. The firm owned 564,461 shares of the biopharmaceutical company’s stock after selling 37,567 shares during the period. Royalty Pharma accounts for about 4.3% of Torray Investment Partners LLC’s portfolio, making the stock its 2nd largest position. Torray Investment Partners LLC’s holdings in Royalty Pharma were worth $32,942,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CoreCap Advisors LLC boosted its stake in shares of Royalty Pharma by 89.2% during the second quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 413 shares during the period. Root Financial Partners LLC bought a new position in shares of Royalty Pharma in the third quarter worth approximately $62,000. Bessemer Group Inc. grew its holdings in shares of Royalty Pharma by 34.7% in the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 282 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Royalty Pharma by 263.3% in the second quarter. IFP Advisors Inc now owns 1,188 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 861 shares during the last quarter. Finally, Oslo Pensjonsforsikring AS purchased a new position in shares of Royalty Pharma in the first quarter worth $95,000. Institutional investors own 54.35% of the company’s stock.

Insider Buying and Selling at Royalty Pharma

In other news, EVP Christopher Hite sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the sale, the executive vice president directly owned 270,401 shares of the company’s stock, valued at approximately $15,826,570.53. This trade represents a 27.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of Royalty Pharma stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $57.10, for a total transaction of $235,594.60. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 208,252 shares of company stock valued at $12,324,407 over the last 90 days. Company insiders own 18.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RPRX. The Goldman Sachs Group restated a “buy” rating and issued a $66.00 price objective on shares of Royalty Pharma in a research report on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Royalty Pharma from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Weiss Ratings raised Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 14th. TD Cowen raised their target price on Royalty Pharma from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Finally, Bank of America restated a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $61.57.

Royalty Pharma Price Performance

Shares of Royalty Pharma stock opened at $66.40 on Wednesday. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. The company has a market cap of $38.18 billion, a PE ratio of 45.79, a P/E/G ratio of 1.82 and a beta of 0.37. The business has a 50 day moving average of $60.48 and a 200 day moving average of $53.39. Royalty Pharma PLC has a 52 week low of $36.03 and a 52 week high of $67.71.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $674.14 million during the quarter, compared to analyst estimates 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 research analysts forecast that Royalty Pharma PLC will post 5.29 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be given a dividend of $0.2350 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 13th. Royalty Pharma’s payout ratio is presently 64.83%.

Royalty Pharma Profile

Royalty Pharma plc (NASDAQ:RPRX) is a biopharmaceutical royalty investment company that provides funding to life sciences companies, academic institutions, and other organizations in exchange for rights to future payments tied to approved or development-stage medicines. Its business model gives innovators access to capital while allowing Royalty Pharma to participate in the long-term commercial success of pharmaceutical products.

The company acquires and manages royalty interests across a broad range of therapeutic areas, including immunology, oncology, neuroscience, rare diseases, and infectious diseases.