Sei Investments Co. Reduces Stock Holdings in Royalty Pharma PLC $RPRX

Sei Investments Co. trimmed its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 20.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 379,726 shares of the biopharmaceutical company’s stock after selling 99,990 shares during the period. Sei Investments Co.’s holdings in Royalty Pharma were worth $18,216,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Lido Advisors LLC bought a new position in shares of Royalty Pharma during the 1st quarter worth $924,000. Cetera Investment Advisers raised its stake in Royalty Pharma by 7.2% in the 1st quarter. Cetera Investment Advisers now owns 76,916 shares of the biopharmaceutical company’s stock valued at $3,690,000 after acquiring an additional 5,180 shares during the period. NewEdge Wealth LLC purchased a new stake in Royalty Pharma during the first quarter valued at about $533,000. CI Investments Inc. lifted its holdings in Royalty Pharma by 154.8% during the first quarter. CI Investments Inc. now owns 173,663 shares of the biopharmaceutical company’s stock valued at $8,331,000 after purchasing an additional 105,516 shares during the last quarter. Finally, ABN Amro Investment Solutions bought a new position in Royalty Pharma during the first quarter worth about $1,541,000. 54.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Gregory Norden sold 3,045 shares of the business’s stock in a transaction dated 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 transaction, the director owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $56.52, for a total transaction of $5,652,000.00. Following the completion of the transaction, the executive vice president owned 459,399 shares in the company, valued at approximately $25,965,231.48. This trade represents a 17.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 393,009 shares of company stock worth $21,601,827. Insiders own 18.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. 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 report on Friday, April 10th. TD Cowen lifted their price objective on shares of Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Citigroup increased their target price on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $56.57.

Royalty Pharma Stock Down 1.3%

Shares of NASDAQ:RPRX opened at $59.18 on Thursday. The firm has a fifty day moving average price of $56.01 and a two-hundred day moving average price of $49.67. The company has a market cap of $34.08 billion, a price-to-earnings ratio of 40.26, a PEG ratio of 10.62 and a beta of 0.43. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. Royalty Pharma PLC has a one year low of $34.08 and a one year high of $60.44.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The company had revenue of $630.58 million for the quarter, compared to the consensus estimate of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. Analysts anticipate that Royalty Pharma PLC will post 5.18 EPS 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 issued a $0.235 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio (DPR) is presently 63.95%.

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.