Royalty Pharma PLC $RPRX Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 25.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 112,084 shares of the biopharmaceutical company’s stock after selling 37,988 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Royalty Pharma were worth $3,954,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Resona Asset Management Co. Ltd. boosted its position in shares of Royalty Pharma by 3.6% during the 3rd quarter. Resona Asset Management Co. Ltd. now owns 114,436 shares of the biopharmaceutical company’s stock worth $4,037,000 after purchasing an additional 4,006 shares during the period. Patient Capital Management LLC lifted its stake in Royalty Pharma by 4.3% during the 3rd quarter. Patient Capital Management LLC now owns 3,117,850 shares of the biopharmaceutical company’s stock worth $109,998,000 after acquiring an additional 129,862 shares in the last quarter. Inscription Capital LLC acquired a new position in Royalty Pharma in the 3rd quarter valued at about $230,000. Allstate Corp acquired a new stake in shares of Royalty Pharma during the third quarter worth about $455,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Royalty Pharma by 16.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 23,595 shares of the biopharmaceutical company’s stock worth $852,000 after buying an additional 3,394 shares during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $40.40 on Monday. The company has a market cap of $23.32 billion, a PE ratio of 30.61, a P/E/G ratio of 1.54 and a beta of 0.43. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.48 and a quick ratio of 3.48. Royalty Pharma PLC has a 1-year low of $29.66 and a 1-year high of $41.70. The stock has a fifty day moving average price of $39.35 and a 200 day moving average price of $37.58.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.06. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. The firm had revenue of $609.29 million during the quarter, compared to the consensus estimate of $765.01 million. Sell-side analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.235 per share. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.94 annualized dividend and a dividend yield of 2.3%. Royalty Pharma’s dividend payout ratio is presently 66.67%.

Wall Street Analyst Weigh In

RPRX has been the topic of several analyst reports. Morgan Stanley reduced their price objective on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. TD Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Thursday, December 11th. Leerink Partners set a $45.00 price objective on Royalty Pharma in a research report on Thursday, December 11th. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 17th. Finally, The Goldman Sachs Group started coverage on Royalty Pharma in a research report on Tuesday, September 30th. They set a “buy” rating and a $42.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.60.

Insider Activity at Royalty Pharma

In other Royalty Pharma news, CFO Terrance P. Coyne sold 69,594 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $39.30, for a total value of $2,735,044.20. Following the sale, the chief financial officer owned 54,760 shares of the company’s stock, valued at $2,152,068. This represents a 55.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP George W. Lloyd sold 132,426 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $38.34, for a total value of $5,077,212.84. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,025,675 shares of company stock valued at $40,028,396 over the last ninety days. 18.90% of the stock is currently owned by company insiders.

Royalty Pharma 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.