Terrance Coyne Sells 69,594 Shares of Royalty Pharma (NASDAQ:RPRX) Stock

Royalty Pharma PLC (NASDAQ:RPRX) CFO Terrance Coyne sold 69,594 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $39.30, for a total value of $2,735,044.20. Following the completion of the transaction, the chief financial officer owned 54,760 shares in the company, valued at $2,152,068. This represents a 55.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Royalty Pharma Price Performance

Shares of RPRX traded down $0.81 during trading hours on Wednesday, reaching $38.65. 3,803,730 shares of the company’s stock traded hands, compared to its average volume of 4,290,284. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $41.24. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.89. The stock has a market cap of $22.31 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.06 and a beta of 0.56. The firm’s 50 day simple moving average is $36.91 and its 200-day simple moving average is $35.81.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The business had revenue of $609.29 million during the quarter, compared to analysts’ expectations of $765.01 million. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. Equities analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. Royalty Pharma’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Ratings Changes

RPRX has been the subject of a number of research reports. The Goldman Sachs Group assumed coverage on Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price objective for the company. TD Cowen cut shares of Royalty Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday. Morgan Stanley reduced their target price on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Finally, Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.00.

Institutional Trading of Royalty Pharma

Large investors have recently modified their holdings of the business. Capital International Investors increased its stake in shares of Royalty Pharma by 24.4% during the third quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock valued at $960,064,000 after buying an additional 5,332,074 shares during the period. Swedbank AB increased its position in Royalty Pharma by 0.4% during the 3rd quarter. Swedbank AB now owns 12,200,270 shares of the biopharmaceutical company’s stock valued at $430,426,000 after purchasing an additional 42,800 shares during the period. State Street Corp increased its position in Royalty Pharma by 0.8% during the 3rd quarter. State Street Corp now owns 10,272,753 shares of the biopharmaceutical company’s stock valued at $362,423,000 after purchasing an additional 77,815 shares during the period. Geode Capital Management LLC raised its holdings in Royalty Pharma by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 8,176,504 shares of the biopharmaceutical company’s stock worth $299,494,000 after purchasing an additional 177,036 shares in the last quarter. Finally, Norges Bank purchased a new stake in Royalty Pharma in the second quarter worth about $181,388,000. 54.35% of the stock is owned by institutional investors.

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.