SEB Asset Management AB bought a new stake in Royalty Pharma PLC (NASDAQ:RPRX – Free Report) during the first quarter, Holdings Channel.com reports. The fund bought 270,309 shares of the biopharmaceutical company’s stock, valued at approximately $12,967,000.
Several other hedge funds have also bought and sold shares of RPRX. Phillips Wealth Planners LLC raised its position in shares of Royalty Pharma by 1.9% during the 4th quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock valued at $521,000 after buying an additional 242 shares in the last quarter. Strs Ohio grew its position in Royalty Pharma by 2.8% in the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock worth $360,000 after acquiring an additional 252 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Royalty Pharma by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock worth $1,673,000 after acquiring an additional 255 shares in the last quarter. Cary Street Partners Financial LLC increased its stake in Royalty Pharma by 1.1% in the fourth quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock valued at $943,000 after acquiring an additional 260 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Royalty Pharma by 34.7% in the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 282 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.
Royalty Pharma Price Performance
RPRX stock opened at $57.29 on Tuesday. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $59.44. The company has a market cap of $32.99 billion, a P/E ratio of 38.97, a PEG ratio of 10.30 and a beta of 0.43. The firm has a 50-day moving average of $55.12 and a 200 day moving average of $48.72. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66.
Royalty Pharma Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio (DPR) is 63.95%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on RPRX. TD Cowen raised their price objective on Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a report on Monday, July 13th. 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 research report on Thursday, May 7th. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. UBS Group lifted their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings lowered shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $56.57.
Check Out Our Latest Stock Report on Royalty Pharma
Insider Activity
In other Royalty Pharma news, Director Gregory Norden sold 3,045 shares of Royalty Pharma stock in a transaction 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 owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $56.52, for a total value of $5,652,000.00. Following the completion of the sale, the executive vice president owned 459,399 shares of the company’s stock, valued at $25,965,231.48. The trade was a 17.88% 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. Insiders sold 427,800 shares of company stock worth $23,333,723 over the last three months. 18.84% of the stock is currently owned by insiders.
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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