Fieldview Capital Management LLC bought a new stake in Royalty Pharma PLC (NASDAQ:RPRX – Free Report) during the fourth quarter, Holdings Channel.com reports. The firm bought 96,752 shares of the biopharmaceutical company’s stock, valued at approximately $3,738,000.
Other hedge funds also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its stake in Royalty Pharma by 16.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock valued at $6,662,000 after buying an additional 24,048 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Royalty Pharma in the fourth quarter valued at $4,923,000. Regal Partners Ltd lifted its stake in 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 last quarter. Qsemble Capital Management LP bought a new stake in Royalty Pharma in the fourth quarter valued at $2,875,000. Finally, Nordea Investment Management AB lifted its stake in Royalty Pharma by 4.7% in the fourth quarter. Nordea Investment Management AB now owns 812,663 shares of the biopharmaceutical company’s stock valued at $31,604,000 after buying an additional 36,664 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.
Royalty Pharma Price Performance
Shares of Royalty Pharma stock opened at $54.87 on Friday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average price is $51.59 and its two-hundred day moving average price is $45.57. Royalty Pharma PLC has a 52 week low of $34.08 and a 52 week high of $56.50. The stock has a market cap of $31.60 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 1.51 and a beta of 0.43.
Royalty Pharma Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a $0.235 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.94 annualized dividend and a yield of 1.7%. Royalty Pharma’s payout ratio is 63.95%.
Insiders Place Their Bets
In other Royalty Pharma news, EVP Marshall Urist sold 13,684 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $52.75, for a total value of $721,831.00. Following the sale, the executive vice president directly owned 18,197 shares in the company, valued at approximately $959,891.75. The trade was a 42.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the sale, the director owned 191,803 shares in the company, valued at approximately $10,165,559. This trade represents a 1.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 199,185 shares of company stock worth $10,082,926. 18.84% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. UBS Group raised their target price on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Citigroup raised their target price on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Weiss Ratings cut Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $53.71.
View Our Latest Research Report on Royalty Pharma
Royalty Pharma 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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