Teacher Retirement System of Texas Sells 33,309 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Posted by Defense World Staff on Jun 8th, 2023

Teacher Retirement System of Texas trimmed its position in shares of Royalty Pharma plc (NASDAQ:RPRX – Get Rating) by 46.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,487 shares of the biopharmaceutical company’s stock after selling 33,309 shares during the period. Teacher Retirement System of Texas’ holdings in Royalty Pharma were worth $1,521,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors increased its holdings in Royalty Pharma by 210.8% in the 2nd quarter. Captrust Financial Advisors now owns 805 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 546 shares during the last quarter. CI Investments Inc. increased its holdings in Royalty Pharma by 79.4% in the 3rd quarter. CI Investments Inc. now owns 965 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 427 shares during the last quarter. Quantbot Technologies LP bought a new stake in Royalty Pharma in the 3rd quarter valued at $39,000. Mendota Financial Group LLC bought a new stake in Royalty Pharma in the 4th quarter valued at $57,000. Finally, Hikari Tsushin Inc. increased its holdings in Royalty Pharma by 469.2% in the 4th quarter. Hikari Tsushin Inc. now owns 2,220 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 1,830 shares during the last quarter. 55.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP George W. Lloyd sold 19,215 shares of Royalty Pharma stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $33.54, for a total transaction of $644,471.10. Following the completion of the transaction, the executive vice president now directly owns 109,099 shares of the company’s stock, valued at approximately $3,659,180.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Royalty Pharma news, EVP George W. Lloyd sold 93,907 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $33.64, for a total value of $3,159,031.48. Following the completion of the sale, the executive vice president now directly owns 120,000 shares of the company’s stock, valued at approximately $4,036,800. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP George W. Lloyd sold 19,215 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $33.54, for a total transaction of $644,471.10. Following the completion of the sale, the executive vice president now directly owns 109,099 shares of the company’s stock, valued at $3,659,180.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,973,048 shares of company stock valued at $65,311,268. Company insiders own 24.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of Royalty Pharma from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, February 16th. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Friday, May 26th. Tigress Financial boosted their target price on shares of Royalty Pharma from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Morgan Stanley boosted their target price on shares of Royalty Pharma from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 10th. Finally, TheStreet downgraded shares of Royalty Pharma from a “c-” rating to a “d+” rating in a report on Tuesday, February 21st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $54.00.

Royalty Pharma Price Performance

RPRX stock opened at $33.79 on Thursday. Royalty Pharma plc has a 12 month low of $32.02 and a 12 month high of $44.66. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $34.74 and a 200 day moving average price of $37.24. The stock has a market cap of $20.52 billion, a PE ratio of 61.44, a P/E/G ratio of 0.93 and a beta of 0.42.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Friday, May 19th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.37%. Royalty Pharma’s dividend payout ratio is presently 145.45%.

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.