Royalty Pharma PLC $RPRX Shares Sold by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd lessened its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 52.8% during the 2nd quarter, Holdings Channel reports. The fund owned 31,310 shares of the biopharmaceutical company’s stock after selling 34,970 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Royalty Pharma were worth $1,128,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB grew its stake in shares of Royalty Pharma by 603.9% in the 2nd quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock valued at $23,701,000 after buying an additional 562,799 shares during the period. Cookson Peirce & Co. Inc. lifted its holdings in Royalty Pharma by 55.1% in the second quarter. Cookson Peirce & Co. Inc. now owns 34,263 shares of the biopharmaceutical company’s stock valued at $1,234,000 after acquiring an additional 12,171 shares during the last quarter. Koss Olinger Consulting LLC grew its position in Royalty Pharma by 201.5% in the first quarter. Koss Olinger Consulting LLC now owns 31,756 shares of the biopharmaceutical company’s stock worth $989,000 after acquiring an additional 21,225 shares during the period. Jupiter Asset Management Ltd. increased its stake in Royalty Pharma by 126.5% during the second quarter. Jupiter Asset Management Ltd. now owns 2,470,706 shares of the biopharmaceutical company’s stock worth $89,020,000 after acquiring an additional 1,380,115 shares during the last quarter. Finally, Wealthedge Investment Advisors LLC purchased a new stake in Royalty Pharma in the first quarter valued at $389,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RPRX. The Goldman Sachs Group began coverage on Royalty Pharma in a report on Tuesday, September 30th. They set a “buy” rating and a $42.00 price target 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 raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. 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. Finally, Morgan Stanley decreased their price objective 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. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock opened at $38.65 on Thursday. The stock has a market capitalization of $22.31 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 2.08 and a beta of 0.56. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.48 and a quick ratio of 3.48. The business has a 50-day moving average of $36.96 and a 200 day moving average of $35.83. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $41.24.

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

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued 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 is 66.67%.

Insider Buying and Selling

In other Royalty Pharma news, CFO Terrance P. Coyne sold 69,594 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 54,760 shares of the company’s stock, valued at $2,152,068. This trade represents a 55.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 18.90% of the stock is owned by corporate insiders.

Royalty Pharma Company Profile

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.