Crossmark Global Holdings Inc. acquired a new stake in Royalty Pharma PLC (NASDAQ:RPRX – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,763 shares of the biopharmaceutical company’s stock, valued at approximately $377,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of RPRX. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Royalty Pharma by 28.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 140,131 shares of the biopharmaceutical company’s stock valued at $4,944,000 after buying an additional 31,045 shares during the period. Regal Partners Ltd boosted its stake in shares of Royalty Pharma by 6.7% in the third quarter. Regal Partners Ltd now owns 1,435,126 shares of the biopharmaceutical company’s stock valued at $50,631,000 after buying an additional 89,930 shares during the period. Nordea Investment Management AB raised its position in Royalty Pharma by 4.7% during the fourth quarter. Nordea Investment Management AB now owns 812,663 shares of the biopharmaceutical company’s stock valued at $31,604,000 after purchasing an additional 36,664 shares in the last quarter. Alps Advisors Inc. acquired a new position in Royalty Pharma during the third quarter valued at approximately $19,514,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in Royalty Pharma by 15.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,268,044 shares of the biopharmaceutical company’s stock valued at $48,997,000 after purchasing an additional 166,403 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.
Insider Activity
In other news, Director Gregory Norden sold 3,045 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the transaction, the director directly owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.06, for a total transaction of $726,073.04. Following the transaction, the executive vice president directly owned 31,881 shares of the company’s stock, valued at approximately $1,691,605.86. This trade represents a 30.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 155,893 shares of company stock valued at $7,512,360. Insiders own 18.84% of the company’s stock.
Royalty Pharma Price Performance
Royalty Pharma (NASDAQ:RPRX – Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, topping 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 firm had revenue of $631.00 million during the quarter, compared to analyst estimates of $881.69 million. As a group, equities research analysts forecast that Royalty Pharma PLC will post 5.05 EPS for the current year.
Royalty Pharma Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, May 15th. Royalty Pharma’s dividend payout ratio (DPR) is presently 63.95%.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Citigroup boosted their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley upped their price target on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Weiss Ratings upgraded shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 1st. TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Royalty Pharma presently has a consensus rating of “Buy” and a consensus target price of $53.71.
Check Out Our Latest Analysis on RPRX
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.
See Also
- Five stocks we like better than Royalty Pharma
- Viking Sails to All-Time Highs—Fundamentals Signal More to Come
- Datavalut Gains Traction: 5 Reasons to Sell Now
- TMC Stock: Why This Pre-Revenue Miner Is Worth Watching
- The Power Grid Is Dying—Is It Time to Buy Its Replacement?
Want to see what other hedge funds are holding RPRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royalty Pharma PLC (NASDAQ:RPRX – Free Report).
Receive News & Ratings for Royalty Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royalty Pharma and related companies with MarketBeat.com's FREE daily email newsletter.
