Delta Global Management LP bought a new position in Royalty Pharma PLC (NASDAQ:RPRX – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 44,314 shares of the biopharmaceutical company’s stock, valued at approximately $1,712,000.
Several other hedge funds also recently made changes to their positions in RPRX. LM Advisors LLC acquired a new stake in shares of Royalty Pharma in the 4th quarter worth $26,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Royalty Pharma in the 4th quarter worth $30,000. Smartleaf Asset Management LLC lifted its stake in shares of Royalty Pharma by 868.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 790 shares during the period. Private Trust Co. NA lifted its stake in shares of Royalty Pharma by 52.9% in the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 288 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Royalty Pharma by 66.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 446 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.
Royalty Pharma Stock Performance
Shares of RPRX opened at $54.21 on Wednesday. The company has a 50-day simple moving average of $51.82 and a 200-day simple moving average of $45.82. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $31.22 billion, a PE ratio of 36.88, a P/E/G ratio of 1.49 and a beta of 0.43. Royalty Pharma PLC has a 52-week low of $34.08 and a 52-week high of $56.50.
Royalty Pharma Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 15th. Royalty Pharma’s dividend payout ratio (DPR) is 63.95%.
Insider Buying and Selling at Royalty Pharma
In other Royalty Pharma news, EVP Marshall Urist sold 13,684 shares of the firm’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 completion of the transaction, the executive vice president directly owned 31,881 shares in the company, valued at approximately $1,691,605.86. This trade represents a 30.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the firm’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 transaction, the director owned 191,803 shares of the company’s stock, valued at $10,165,559. This trade represents a 1.56% 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. In the last three months, insiders sold 199,185 shares of company stock worth $10,082,926. 18.84% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on RPRX. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. UBS Group increased their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Citigroup increased their price target on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $53.71.
Check Out Our Latest Analysis on RPRX
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.
See Also
- Five stocks we like better than Royalty Pharma
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
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.
