Cumberland Partners Ltd acquired a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX – Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 35,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,352,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Capital International Investors boosted its position in shares of Royalty Pharma by 24.4% in the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock valued at $960,064,000 after purchasing an additional 5,332,074 shares during the period. Dorsey Asset Management LLC acquired a new stake in shares of Royalty Pharma in the 3rd quarter valued at about $82,924,000. Qube Research & Technologies Ltd boosted its position in shares of Royalty Pharma by 737.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock valued at $87,557,000 after purchasing an additional 2,185,366 shares during the period. Millennium Management LLC grew its position in shares of Royalty Pharma by 379.2% during the third quarter. Millennium Management LLC now owns 2,235,133 shares of the biopharmaceutical company’s stock worth $78,855,000 after acquiring an additional 1,768,702 shares during the last quarter. Finally, Clark Capital Management Group Inc. purchased a new position in shares of Royalty Pharma during the third quarter worth approximately $61,805,000. 54.35% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on RPRX shares. Citigroup raised their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley raised their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. raised their target price on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Royalty Pharma in a research report on Thursday, February 12th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Royalty Pharma has an average rating of “Buy” and an average target price of $53.71.
Insider Activity
In other news, Director Gregory Norden sold 3,045 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 34,791 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $49.78, for a total value of $1,731,895.98. 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. Insiders sold 169,577 shares of company stock valued at $8,234,191 in the last three months. 18.84% of the stock is currently owned by company insiders.
Royalty Pharma Stock Up 1.8%
RPRX opened at $54.50 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The business has a 50 day simple moving average of $49.03 and a 200-day simple moving average of $43.91. The stock has a market capitalization of $31.38 billion, a P/E ratio of 37.08, a P/E/G ratio of 1.50 and a beta of 0.40. Royalty Pharma PLC has a 12 month low of $32.15 and a 12 month high of $54.64.
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, beating the consensus estimate of $1.22 by $0.08. The business had revenue of $631.00 million during the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. On average, equities analysts anticipate that Royalty Pharma PLC will post 5.05 earnings per share for the current fiscal year.
Royalty Pharma Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, May 15th. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.
Royalty Pharma Company 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.
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