Sumitomo Mitsui Trust Group Inc. Sells 147,113 Shares of Royalty Pharma PLC $RPRX

Sumitomo Mitsui Trust Group Inc. cut its position in Royalty Pharma PLC (NASDAQ:RPRX) by 12.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,040,830 shares of the biopharmaceutical company’s stock after selling 147,113 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Royalty Pharma were worth $60,743,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Glenmede Trust Co. NA lifted its stake in shares of Royalty Pharma by 3.4% in the first quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company’s stock worth $375,000 after buying an additional 254 shares in the last quarter. MBL Wealth LLC raised its holdings in Royalty Pharma by 7.3% in the 3rd quarter. MBL Wealth LLC now owns 3,908 shares of the biopharmaceutical company’s stock worth $228,000 after acquiring an additional 266 shares during the last quarter. Bessemer Group Inc. raised its holdings in Royalty Pharma by 34.7% in the 1st quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 282 shares during the last quarter. CoreCap Advisors LLC raised its holdings in Royalty Pharma by 89.2% in the 2nd quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 413 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Royalty Pharma by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 27,228 shares of the biopharmaceutical company’s stock valued at $1,329,000 after acquiring an additional 454 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Royalty Pharma

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

Royalty Pharma Trading Down 0.2%

Shares of RPRX stock opened at $66.40 on Wednesday. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 12-month low of $36.03 and a 12-month high of $67.71. The stock has a market capitalization of $38.18 billion, a P/E ratio of 45.79, a P/E/G ratio of 1.82 and a beta of 0.37. The firm’s 50 day moving average is $60.48 and its 200 day moving average is $53.39.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. The business had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. Research analysts expect that Royalty Pharma PLC will post 5.29 earnings per share for the current year.

Royalty Pharma Dividend Announcement

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

Wall Street Analyst Weigh In

RPRX has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Morgan Stanley lifted their target price on Royalty Pharma from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, October 7th. Weiss Ratings upgraded Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $66.00 price target on shares of Royalty Pharma in a report on Thursday, August 6th. Finally, TD Cowen upped their price target on Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. Eight analysts have rated the stock with a Buy rating. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $61.57.

Royalty Pharma Company 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.