Royalty Pharma PLC $RPRX Stock Sold by Cooper Investors PTY Ltd.

Cooper Investors PTY Ltd. trimmed its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 69.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,489 shares of the biopharmaceutical company’s stock after selling 113,760 shares during the period. Royalty Pharma makes up about 1.6% of Cooper Investors PTY Ltd.’s holdings, making the stock its 21st biggest holding. Cooper Investors PTY Ltd.’s holdings in Royalty Pharma were worth $2,947,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RPRX. NorthCrest Asset Manangement LLC grew its position in Royalty Pharma by 41.3% during the third quarter. NorthCrest Asset Manangement LLC now owns 6,705 shares of the biopharmaceutical company’s stock valued at $377,000 after acquiring an additional 1,961 shares during the period. Wedmont Private Capital increased its stake in Royalty Pharma by 17.8% during the third quarter. Wedmont Private Capital now owns 8,902 shares of the biopharmaceutical company’s stock worth $500,000 after acquiring an additional 1,345 shares during the last quarter. Legacy Wealth Asset Management LLC acquired a new stake in Royalty Pharma during the third quarter worth about $356,000. Congress Asset Management Co. purchased a new position in shares of Royalty Pharma in the 3rd quarter worth about $30,761,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Royalty Pharma in the 3rd quarter worth about $208,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Royalty Pharma

In other Royalty Pharma news, EVP Christopher Hite sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the sale, the executive vice president owned 270,401 shares of the company’s stock, valued at $15,826,570.53. This trade represents a 27.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of Royalty Pharma stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $57.10, for a total transaction of $235,594.60. Additional details regarding this sale are available in the official SEC disclosure. 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 owned by corporate insiders.

Royalty Pharma Stock Down 2.1%

Shares of NASDAQ RPRX traded down $1.21 on Tuesday, hitting $56.57. The company had a trading volume of 3,582,449 shares, compared to its average volume of 3,425,440. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 12-month low of $35.50 and a 12-month high of $64.38. The firm has a market capitalization of $32.53 billion, a P/E ratio of 39.01, a PEG ratio of 1.34 and a beta of 0.42. The business has a 50 day moving average of $59.29 and a two-hundred day moving average of $55.43.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. The business had revenue of $674.14 million for the quarter, compared to the consensus estimate of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. As a group, equities research analysts forecast that Royalty Pharma PLC will post 5.32 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 14th were issued a $0.2350 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, August 14th. Royalty Pharma’s dividend payout ratio is currently 64.83%.

Analysts Set New Price Targets

RPRX has been the topic of several research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Royalty Pharma in a research note on Thursday, August 6th. Wall Street Zen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 26th. Weiss Ratings upgraded shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 14th. Bank of America restated a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $61.57.

Royalty Pharma Profile

Royalty Pharma plc is a biopharmaceutical royalty acquisition company that provides funding to life sciences companies in exchange for rights to future payments associated with approved or development-stage medicines. Its business model gives biotechnology and pharmaceutical companies access to capital while allowing Royalty Pharma to participate in the commercial success of therapies without directly developing or marketing them.

The company invests in royalties and other economic interests tied to a broad range of biopharmaceutical products, including treatments for cancer, rare diseases, immune disorders, diabetes and other chronic conditions.