First Trust Advisors LP Has $39.78 Million Stock Position in Royalty Pharma PLC $RPRX

First Trust Advisors LP lessened its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 31.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,104,044 shares of the biopharmaceutical company’s stock after selling 495,192 shares during the period. First Trust Advisors LP owned about 0.20% of Royalty Pharma worth $39,779,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RPRX. USA Financial Formulas purchased a new position in shares of Royalty Pharma in the second quarter worth approximately $32,000. Summit Securities Group LLC acquired a new position in Royalty Pharma in the 1st quarter worth approximately $36,000. WPG Advisers LLC purchased a new position in Royalty Pharma during the 1st quarter worth approximately $39,000. MassMutual Private Wealth & Trust FSB raised its stake in Royalty Pharma by 42.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 402 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Royalty Pharma by 113.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,428 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 760 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

RPRX stock opened at $38.09 on Wednesday. The firm has a 50 day moving average of $37.99 and a two-hundred day moving average of $36.48. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $41.24. The company has a market capitalization of $21.99 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 2.04 and a beta of 0.46. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.89.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.06. The business had revenue of $609.29 million for the quarter, compared to the consensus estimate of $765.01 million. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. As a group, equities analysts anticipate that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. Royalty Pharma’s payout ratio is currently 66.67%.

Insider Transactions at Royalty Pharma

In other news, CFO Terrance P. Coyne sold 69,582 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $39.87, for a total transaction of $2,774,234.34. Following the transaction, the chief financial officer owned 47,260 shares of the company’s stock, valued at approximately $1,884,256.20. This represents a 59.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marshall Urist sold 23,334 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $39.15, for a total value of $913,526.10. Following the completion of the transaction, the executive vice president directly owned 160,000 shares in the company, valued at $6,264,000. The trade was a 12.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 606,929 shares of company stock worth $23,780,885. 18.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RPRX shares. Weiss Ratings cut Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Wall Street Zen cut Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. TD Cowen downgraded Royalty Pharma from a “strong-buy” rating to a “hold” rating in a report on Monday, November 17th. Morgan Stanley decreased their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Finally, The Goldman Sachs Group started coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They set a “buy” rating and a $42.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Royalty Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Royalty Pharma Profile

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.