Sterling Capital Management LLC Has $936,000 Stock Holdings in Royalty Pharma PLC $RPRX

Sterling Capital Management LLC decreased its position in Royalty Pharma PLC (NASDAQ:RPRX) by 41.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,515 shares of the biopharmaceutical company’s stock after selling 13,876 shares during the quarter. Sterling Capital Management LLC’s holdings in Royalty Pharma were worth $936,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of RPRX. Phillips Wealth Planners LLC grew its stake in Royalty Pharma by 1.9% in the 4th quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock valued at $521,000 after buying an additional 242 shares during the last quarter. Strs Ohio lifted its position in Royalty Pharma by 2.8% during the 4th quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 252 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Royalty Pharma by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock valued at $1,673,000 after acquiring an additional 255 shares during the period. Cary Street Partners Financial LLC boosted its holdings in Royalty Pharma by 1.1% during the fourth quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock valued at $943,000 after acquiring an additional 260 shares during the period. Finally, Private Trust Co. NA grew its position in shares of Royalty Pharma by 52.9% in the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $56.07 on Wednesday. The stock has a market cap of $32.29 billion, a P/E ratio of 38.14, a PEG ratio of 1.57 and a beta of 0.43. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a twelve month low of $34.08 and a twelve month high of $57.22. The company’s 50-day simple moving average is $53.10 and its 200 day simple moving average is $46.90.

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. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The company had revenue of $630.58 million for the quarter, compared to the consensus estimate of $881.69 million. As a group, research analysts forecast that Royalty Pharma PLC will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 15th. Royalty Pharma’s dividend payout ratio is currently 63.95%.

Insider Activity

In other news, EVP Marshall Urist sold 9,098 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $55.18, for a total value of $502,027.64. Following the sale, the executive vice president owned 9,099 shares of the company’s stock, valued at approximately $502,082.82. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed 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, Director Gregory Norden sold 3,045 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the sale, the director owned 191,803 shares of the company’s stock, valued at $10,165,559. This trade represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 288,701 shares of company stock worth $15,479,471 over the last 90 days. 18.84% of the stock is currently owned by company insiders.

Royalty Pharma Profile

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.