8,718 Royalty Pharma PLC $RPRX Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Royalty Pharma PLC (NASDAQ:RPRX – Free Report) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 215,483 shares of the biopharmaceutical company’s stock after acquiring an additional 8,718 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Royalty Pharma were worth $12,576,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. USA Financial Formulas purchased a new position in shares of Royalty Pharma during the third quarter worth $192,000. Triasima Portfolio Management inc. raised its holdings in shares of Royalty Pharma by 23.7% in the 3rd quarter. Triasima Portfolio Management inc. now owns 223,527 shares of the biopharmaceutical company’s stock valued at $13,045,000 after buying an additional 42,817 shares during the period. Curated Wealth Partners LLC purchased a new stake in shares of Royalty Pharma in the 3rd quarter valued at $205,000. NorthCrest Asset Manangement LLC lifted its stake in Royalty Pharma by 41.3% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 6,705 shares of the biopharmaceutical company’s stock worth $377,000 after acquiring an additional 1,961 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in Royalty Pharma by 17.8% during the 3rd quarter. Wedmont Private Capital now owns 8,902 shares of the biopharmaceutical company’s stock worth $500,000 after acquiring an additional 1,345 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Marshall Urist sold 4,126 shares of Royalty Pharma stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $57.10, for a total value of $235,594.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00. Following the transaction, the executive vice president directly owned 270,401 shares of the company’s stock, valued at approximately $15,826,570.53. This represents a 27.00% 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. Insiders sold a total of 208,252 shares of company stock valued at $12,324,407 in the last quarter. Company insiders own 18.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on RPRX shares. TD Cowen raised their target price on Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. The Goldman Sachs Group reiterated a “buy” rating and set a $66.00 price target on shares of Royalty Pharma in a research note on Thursday, August 6th. Morgan Stanley increased their price target on shares of Royalty Pharma from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Weiss Ratings raised shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, September 14th. Finally, Wall Street Zen lowered shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. Eight investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Royalty Pharma presently has an average rating of “Buy” and a consensus price target of $61.57.

Read Our Latest Analysis on RPRX

Royalty Pharma Stock Up 3.3%

Royalty Pharma stock opened at $62.25 on Wednesday. Royalty Pharma PLC has a twelve month low of $35.92 and a twelve month high of $64.38. The stock’s fifty day simple moving average is $59.56 and its 200-day simple moving average is $55.96. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $35.79 billion, a P/E ratio of 42.93, a P/E/G ratio of 1.65 and a beta of 0.42.

Royalty Pharma (NASDAQ:RPRX – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. The business had revenue of $674.14 million for the quarter, compared to analysts’ expectations of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. As a group, equities analysts expect that Royalty Pharma PLC will post 5.29 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be given a $0.2350 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.94 dividend on an annualized basis and a yield of 1.5%. Royalty Pharma’s dividend payout ratio (DPR) is currently 64.83%.

Royalty Pharma Company Profile

(Free Report)

Royalty Pharma plc (NASDAQ:RPRX) is a biopharmaceutical royalty investment company that provides funding to life sciences companies, academic institutions, and other organizations in exchange for rights to future payments tied to approved or development-stage medicines. Its business model gives innovators access to capital while allowing Royalty Pharma to participate in the long-term commercial success of pharmaceutical products.

The company acquires and manages royalty interests across a broad range of therapeutic areas, including immunology, oncology, neuroscience, rare diseases, and infectious diseases.

Further Reading

Institutional Ownership by Quarter for Royalty Pharma (NASDAQ:RPRX)

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.