Royalty Pharma PLC $RPRX Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 75.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 57,998 shares of the biopharmaceutical company’s stock after selling 181,710 shares during the quarter. Hsbc Holdings PLC’s holdings in Royalty Pharma were worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. LM Advisors LLC purchased a new stake in shares of Royalty Pharma in the 4th quarter valued at $26,000. Lloyd Advisory Services LLC. purchased a new position in shares of Royalty Pharma during the fourth quarter worth $30,000. Private Trust Co. NA raised its holdings in shares of Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 288 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Royalty Pharma by 66.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 446 shares during the period. Finally, Larson Financial Group LLC lifted its position in Royalty Pharma by 31.9% during the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 306 shares during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Gregory Norden sold 3,045 shares of Royalty Pharma stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $53.00, for a total value of $161,385.00. Following the sale, the director owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total transaction of $3,476,258.02. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 323,492 shares of company stock worth $17,160,920 in the last 90 days. 18.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on RPRX. UBS Group increased their price target on Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Citigroup upped their target price on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $53.71.

Royalty Pharma Stock Up 1.5%

RPRX stock opened at $57.09 on Tuesday. The firm has a market cap of $32.87 billion, a PE ratio of 38.84, a P/E/G ratio of 1.55 and a beta of 0.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. The firm’s fifty day moving average is $52.98 and its 200 day moving average is $46.78. Royalty Pharma PLC has a one year low of $34.08 and a one year high of $57.17.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The company had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. On average, research analysts forecast that Royalty Pharma PLC will post 5.05 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, May 15th. Royalty Pharma’s payout ratio is currently 63.95%.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.