James F. Reddoch Sells 100,000 Shares of Royalty Pharma plc (NASDAQ:RPRX) Stock
Royalty Pharma plc (NASDAQ:RPRX – Get Rating) EVP James F. Reddoch sold 100,000 shares of the stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $41.56, for a total value of $4,156,000.00. Following the completion of the transaction, the executive vice president now owns 920,800 shares of the company’s stock, valued at $38,268,448. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of RPRX stock traded down $0.60 during mid-day trading on Friday, hitting $40.48. The company’s stock had a trading volume of 1,060,095 shares, compared to its average volume of 1,922,520. The company’s fifty day simple moving average is $41.20 and its 200-day simple moving average is $39.98. Royalty Pharma plc has a 52 week low of $34.86 and a 52 week high of $46.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 21.95 and a current ratio of 21.95. The company has a market cap of $24.58 billion, a PE ratio of 40.59, a P/E/G ratio of 1.14 and a beta of 0.36.
Royalty Pharma (NASDAQ:RPRX – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.11). Royalty Pharma had a return on equity of 16.75% and a net margin of 26.46%. The business had revenue of $605.00 million during the quarter, compared to the consensus estimate of $583.77 million. On average, equities analysts anticipate that Royalty Pharma plc will post 2.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Friday, May 20th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, May 19th. Royalty Pharma’s dividend payout ratio (DPR) is presently 76.00%.
RPRX has been the subject of a number of research reports. Scotiabank initiated coverage on Royalty Pharma in a research note on Friday, May 13th. They issued an “outperform” rating and a $53.00 price target for the company. Morgan Stanley upgraded Royalty Pharma from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $46.00 to $48.00 in a research note on Wednesday, April 6th. JPMorgan Chase & Co. upgraded Royalty Pharma from a “neutral” rating to an “overweight” rating and set a $50.00 price target for the company in a research note on Thursday, April 14th. They noted that the move was a valuation call. Zacks Investment Research raised Royalty Pharma from a “sell” rating to a “hold” rating in a research report on Thursday, May 26th. Finally, StockNews.com assumed coverage on Royalty Pharma in a research report on Thursday, March 31st. They set a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $49.63.
Several hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its position in shares of Royalty Pharma by 5.6% in the 2nd quarter. Morgan Stanley now owns 50,794,041 shares of the biopharmaceutical company’s stock worth $2,082,049,000 after acquiring an additional 2,675,799 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Royalty Pharma by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 31,860,621 shares of the biopharmaceutical company’s stock valued at $1,241,289,000 after buying an additional 2,224,056 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in shares of Royalty Pharma by 0.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 24,842,715 shares of the biopharmaceutical company’s stock valued at $989,982,000 after buying an additional 144,900 shares during the period. BlackRock Inc. grew its stake in shares of Royalty Pharma by 4.6% in the 1st quarter. BlackRock Inc. now owns 17,483,188 shares of the biopharmaceutical company’s stock valued at $681,145,000 after buying an additional 767,864 shares during the period. Finally, Viking Global Investors LP grew its stake in shares of Royalty Pharma by 4.4% in the 1st quarter. Viking Global Investors LP now owns 10,764,472 shares of the biopharmaceutical company’s stock valued at $419,384,000 after buying an additional 449,094 shares during the period. 51.68% of the stock is owned by hedge funds and other institutional investors.
Royalty Pharma Company Profile (Get Rating)
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.
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