James F. Reddoch Sells 75,000 Shares of Royalty Pharma plc (NASDAQ:RPRX) Stock

Royalty Pharma plc (NASDAQ:RPRX – Get Rating) EVP James F. Reddoch sold 75,000 shares of Royalty Pharma stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $40.44, for a total transaction of $3,033,000.00. Following the completion of the sale, the executive vice president now owns 1,095,800 shares in the company, valued at $44,314,152. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

RPRX stock traded up $0.53 during mid-day trading on Monday, hitting $40.05. 1,715,869 shares of the company were exchanged, compared to its average volume of 1,966,701. Royalty Pharma plc has a 1-year low of $34.86 and a 1-year high of $47.10. The stock has a market capitalization of $24.32 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 1.09 and a beta of 0.36. The business has a 50 day simple moving average of $40.67 and a 200-day simple moving average of $40.01. The company has a current ratio of 21.95, a quick ratio of 21.95 and a debt-to-equity ratio of 0.70.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Friday, May 20th will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, May 19th. This represents a $0.76 annualized dividend and a yield of 1.90%. Royalty Pharma’s payout ratio is currently 76.00%.

Several analysts recently issued reports on the company. Morgan Stanley upgraded Royalty Pharma from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $46.00 to $48.00 in a report on Wednesday, April 6th. JPMorgan Chase & Co. raised Royalty Pharma from a “neutral” rating to an “overweight” rating and set a $50.00 price objective for the company in a report on Thursday, April 14th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Royalty Pharma from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. StockNews.com started coverage on shares of Royalty Pharma in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Scotiabank started coverage on shares of Royalty Pharma in a research note on Friday, May 13th. They set an “outperform” rating and a $53.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $49.43.

Several institutional investors and hedge funds have recently bought and sold shares of RPRX. OLD Mission Capital LLC acquired a new position in shares of Royalty Pharma in the 3rd quarter valued at approximately $1,211,000. Morgan Stanley raised its holdings in shares of Royalty Pharma by 5.6% during the 2nd quarter. Morgan Stanley now owns 50,794,041 shares of the biopharmaceutical company’s stock worth $2,082,049,000 after buying an additional 2,675,799 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Royalty Pharma by 632.3% in the third quarter. Russell Investments Group Ltd. now owns 8,019 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 6,924 shares in the last quarter. Teacher Retirement System of Texas grew its position in Royalty Pharma by 22.4% in the third quarter. Teacher Retirement System of Texas now owns 28,147 shares of the biopharmaceutical company’s stock valued at $1,017,000 after acquiring an additional 5,159 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Royalty Pharma by 0.7% in the third quarter. Alliancebernstein L.P. now owns 159,879 shares of the biopharmaceutical company’s stock worth $5,778,000 after acquiring an additional 1,070 shares during the last quarter. 51.68% of the stock is owned by 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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