Wellington Management Group LLP Sells 748 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Wellington Management Group LLP lessened its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,446 shares of the biopharmaceutical company’s stock after selling 748 shares during the quarter. Wellington Management Group LLP’s holdings in Royalty Pharma were worth $2,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP grew its stake in Royalty Pharma by 89.8% in the 3rd quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 451 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Royalty Pharma by 112.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 531 shares during the period. Captrust Financial Advisors grew its stake in shares of Royalty Pharma by 210.8% during the 2nd quarter. Captrust Financial Advisors now owns 805 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 546 shares during the period. Acadian Asset Management LLC bought a new position in shares of Royalty Pharma during the 1st quarter worth $113,000. Finally, CWM LLC grew its stake in shares of Royalty Pharma by 75.9% during the 3rd quarter. CWM LLC now owns 4,782 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 2,064 shares during the period. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

Shares of RPRX opened at $30.45 on Thursday. The stock’s 50-day simple moving average is $29.76 and its 200 day simple moving average is $28.35. The stock has a market capitalization of $18.19 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 0.87 and a beta of 0.45. The company has a debt-to-equity ratio of 0.61, a quick ratio of 7.90 and a current ratio of 7.90. Royalty Pharma plc has a 52-week low of $25.92 and a 52-week high of $37.42.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.12. Royalty Pharma had a return on equity of 26.93% and a net margin of 48.22%. The firm had revenue of $736.00 million for the quarter, compared to analysts’ expectations of $702.90 million. Research analysts forecast that Royalty Pharma plc will post 3.9 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 16th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.84 annualized dividend and a dividend yield of 2.76%. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.20. Royalty Pharma’s dividend payout ratio (DPR) is presently 44.44%.

Wall Street Analyst Weigh In

RPRX has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a research note on Tuesday, February 20th. The Goldman Sachs Group cut their price target on Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Finally, StockNews.com cut Royalty Pharma from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Royalty Pharma has an average rating of “Moderate Buy” and an average target price of $52.25.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, Director Rory B. Riggs sold 35,702 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $27.55, for a total value of $983,590.10. Following the sale, the director now owns 20,099 shares of the company’s stock, valued at approximately $553,727.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Rory B. Riggs sold 35,702 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $27.55, for a total transaction of $983,590.10. Following the transaction, the director now directly owns 20,099 shares in the company, valued at approximately $553,727.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rory B. Riggs sold 235,200 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $28.52, for a total value of $6,707,904.00. Following the transaction, the director now owns 254,899 shares in the company, valued at $7,269,719.48. The disclosure for this sale can be found here. Insiders own 18.72% of the company’s stock.

About Royalty Pharma

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.