Cumberland Partners Ltd raised its holdings in Royalty Pharma PLC (NASDAQ:RPRX – Free Report) by 42.9% in the first quarter, Holdings Channel.com reports. The fund owned 50,000 shares of the biopharmaceutical company’s stock after acquiring an additional 15,000 shares during the period. Cumberland Partners Ltd’s holdings in Royalty Pharma were worth $2,398,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the business. Barton Investment Management acquired a new stake in shares of Royalty Pharma during the 1st quarter valued at $905,000. Nomura Asset Management Co. Ltd. increased its stake in Royalty Pharma by 16.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock worth $6,662,000 after purchasing an additional 24,048 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Royalty Pharma in the 4th quarter worth about $4,923,000. Qsemble Capital Management LP acquired a new stake in Royalty Pharma during the 4th quarter worth about $2,875,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Royalty Pharma by 15.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,268,044 shares of the biopharmaceutical company’s stock worth $48,997,000 after buying an additional 166,403 shares during the period. Institutional investors own 54.35% of the company’s stock.
Royalty Pharma Price Performance
NASDAQ RPRX opened at $58.83 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 firm has a market capitalization of $33.88 billion, a price-to-earnings ratio of 40.02, a price-to-earnings-growth ratio of 10.45 and a beta of 0.43. The company has a 50 day simple moving average of $55.60 and a 200-day simple moving average of $49.21. Royalty Pharma PLC has a 52-week low of $34.08 and a 52-week high of $59.72.
Royalty Pharma Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio (DPR) is 63.95%.
Analysts Set New Price Targets
Several research analysts have commented on the stock. 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 report on Friday, April 10th. Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. TD Cowen raised their target price on Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Citigroup lifted their price target on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Weiss Ratings lowered Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $56.57.
Read Our Latest Stock Analysis on RPRX
Insider Activity at Royalty Pharma
In related news, EVP Marshall Urist sold 9,099 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total transaction of $508,452.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. 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 90 days, insiders sold 427,800 shares of company stock worth $23,333,723. Corporate insiders own 18.84% of the company’s stock.
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.
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