James F. Reddoch sells 100,000 shares of Royalty Pharma plc (NASDAQ: RPRX)

Royalty Pharma plc (NASDAQ: RPRX – Get a rating) Executive Vice Chairman James F. Reddoch sold 100,000 shares in a trade on Wednesday, June 8. 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, valued at $38,268,448. The sale was disclosed in a filing with the SEC, accessible via this hyperlink.

Shares of RPRX traded down $0.60 during the midday session on Friday, hitting $40.48. The company’s stock had a trading volume of 1,060,095 shares, compared to an average trading volume of 1,922,520 shares. 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 ratio of 0.70, a quick ratio of 21.95 and a current ratio of 21.95. The company has a market capitalization 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 a rating) last released its quarterly earnings data on Thursday, May 5. The biopharmaceutical company reported earnings per share of $0.61 for the quarter, missing the consensus estimate of $0.72 per ($0.11). Royalty Pharma had a return on equity of 16.75% and a net margin of 26.46%. The company posted revenue of $605.00 million in the quarter, versus a consensus estimate of $583.77 million. On average, stock analysts expect Royalty Pharma plc to post earnings per share of 2.97 for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15. Shareholders of record on Friday, May 20 will receive a dividend of $0.19. This represents an annualized dividend of $0.76 and a dividend yield of 1.88%. The ex-dividend date is Thursday, May 19. Royalty Pharma’s dividend payout ratio (DPR) is currently 76.00%.

RPRX has been the subject of a number of research reports. Scotiabank launched coverage on Royalty Pharma in a research note on Friday, May 13. They issued an “outperform” rating and a price target of $53.00 for the company. Morgan Stanley downgraded Royalty Pharma from an “equal weight” rating to an “overweight” rating and raised its price target for the company from $46.00 to $48.00 in a Wednesday research note April 6. 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 Thursday, April 14 research note. They noted that the move was a review call. Zacks Investment Research upgraded Royalty Pharma from a “sell” to a “hold” rating in a Thursday, May 26 research report. To finish, StockNews.com supposed coverage of Royalty Pharma in a Thursday, March 31 research report. They set a “hold” rating for the company. Two investment analysts gave the stock a hold rating and six gave the company a buy rating. 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 Royalty Pharma shares by 5.6% in the second quarter. Morgan Stanley now owns 50,794,041 shares of the biopharmaceutical company worth $2,082,049,000 after acquiring an additional 2,675,799 shares last quarter. Vanguard Group Inc. increased its stake in Royalty Pharma shares by 7.5% in Q1. Vanguard Group Inc. now owns 31,860,621 shares of the biopharmaceutical company valued at $1,241,289,000 after purchasing an additional 2,224,056 shares during the period. Adage Capital Partners GP LLC increased its stake in Royalty Pharma shares by 0.6% in the 4th quarter. Adage Capital Partners GP LLC now owns 24,842,715 shares of the biopharmaceutical company valued at $989,982,000 after purchasing an additional 144,900 shares during the period. BlackRock Inc. increased its stake in Royalty Pharma shares by 4.6% in Q1. BlackRock Inc. now owns 17,483,188 shares of the biopharmaceutical company valued at $681,145,000 after purchasing an additional 767,864 shares during the period. Finally, Viking Global Investors LP increased its stake in Royalty Pharma shares by 4.4% in the 1st quarter. Viking Global Investors LP now owns 10,764,472 shares of the biopharmaceutical company valued at $419,384,000 after purchasing an additional 449,094 shares during the period. 51.68% of the shares are held by hedge funds and other institutional investors.

Royal Pharma Company Profile (Get a rating)

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and funder of innovations in the biopharmaceutical industry in the United States. She 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 non-profit organizations, small and medium biotech companies and pharmaceutical companies.

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