Public Employees Retirement System of Ohio purchased a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 139,790 shares of the biopharmaceutical company’s stock, valued at approximately $7,838,000.
Several other institutional investors also recently modified their holdings of the business. Morgan Stanley lifted its stake in shares of Royalty Pharma by 25.2% in the fourth quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after acquiring an additional 11,110,115 shares during the period. Capital International Investors lifted its position in shares of Royalty Pharma by 14.3% in the 4th quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock worth $1,201,870,000 after purchasing an additional 3,891,615 shares during the period. State Street Corp lifted its position in shares of Royalty Pharma by 3.7% in the 4th quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock worth $411,502,000 after purchasing an additional 376,888 shares during the period. Geode Capital Management LLC boosted its stake in shares of Royalty Pharma by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock valued at $297,465,000 after purchasing an additional 102,430 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Royalty Pharma by 9.7% in the 4th quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock valued at $197,331,000 after purchasing an additional 449,498 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.
Insider Activity at Royalty Pharma
In related news, EVP Marshall Urist sold 9,099 shares of the company’s 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total value of $8,160,000.00. Following the completion of the sale, the executive vice president directly owned 559,399 shares of the company’s stock, valued at $30,431,305.60. The trade was a 21.14% 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 ninety days, insiders have sold 398,197 shares of company stock worth $22,513,280. 18.84% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on RPRX
Royalty Pharma Stock Up 1.5%
Royalty Pharma stock opened at $62.32 on Wednesday. The firm has a market capitalization of $35.83 billion, a price-to-earnings ratio of 42.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.43. The firm’s fifty day moving average price is $58.46 and its two-hundred day moving average price is $52.75. Royalty Pharma PLC has a 1-year low of $34.08 and a 1-year high of $62.58. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88.
Royalty Pharma (NASDAQ:RPRX – Get Free Report) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The company had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. On average, equities research analysts predict that Royalty Pharma PLC will post 5.3 earnings per share for the current fiscal year.
Royalty Pharma Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.94 annualized dividend and a dividend yield of 1.5%. Royalty Pharma’s dividend payout ratio is 64.83%.
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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