143,912 Shares in Royalty Pharma PLC $RPRX Bought by Hohimer Wealth Management LLC

Key Points

• Hohimer Wealth Management opened a 143,912-share position in Royalty Pharma in the third quarter, valued at about $8.4 million and representing 0.6% of its portfolio.
• Royalty Pharma declared a quarterly dividend of $0.235 per share, equivalent to $0.94 annually and a 1.4% yield.
• Analysts remain broadly positive: eight rate the stock a Buy, with a consensus price target of $63.29. Company insiders sold 208,252 shares worth about $12.3 million over the past 90 days.

Hohimer Wealth Management LLC acquired a new position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 143,912 shares of the biopharmaceutical company's stock, valued at approximately $8,399,000. Royalty Pharma comprises approximately 0.6% of Hohimer Wealth Management LLC's investment portfolio, making the stock its 24th largest position.

Several other large investors have also recently bought and sold shares of RPRX. Provenance Wealth Advisors LLC acquired a new stake in shares of Royalty Pharma in the 3rd quarter valued at $26,000. CoreCap Advisors LLC raised its position in shares of Royalty Pharma by 89.2% during the second quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 413 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Royalty Pharma by 34.7% during 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 period. Root Financial Partners LLC acquired a new position in shares of Royalty Pharma during the third quarter valued at $62,000. Finally, IFP Advisors Inc lifted its stake in shares of Royalty Pharma by 263.3% during the second quarter. IFP Advisors Inc now owns 1,188 shares of the biopharmaceutical company's stock valued at $67,000 after acquiring an additional 861 shares during the period. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Price Performance

RPRX opened at $67.30 on Monday. The company has a fifty day moving average price of $60.82 and a two-hundred day moving average price of $53.81. The firm has a market capitalization of $38.70 billion, a PE ratio of 56.08, a P/E/G ratio of 1.33 and a beta of 0.36. Royalty Pharma PLC has a 52 week low of $37.31 and a 52 week high of $69.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.29 and a current ratio of 1.29.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be given a $0.2350 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Royalty Pharma's dividend payout ratio (DPR) is currently 78.33%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. TD Cowen raised their price target on Royalty Pharma from $65.00 to $68.00 and gave the company a "buy" rating in a report on Tuesday, September 8th. Citigroup boosted their price objective on Royalty Pharma from $70.00 to $78.00 and gave the stock a "buy" rating in a report on Thursday. Weiss Ratings upgraded shares of Royalty Pharma from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, September 14th. The Goldman Sachs Group restated a "buy" rating and set a $66.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. Finally, Morgan Stanley raised their target price on shares of Royalty Pharma from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Wednesday, October 7th. Eight investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Royalty Pharma has an average rating of "Buy" and a consensus target price of $63.29.

Insider Buying and Selling at Royalty Pharma

In related news, EVP Marshall Urist sold 4,126 shares of the company's 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the transaction, the executive vice president directly owned 270,401 shares in the company, valued at $15,826,570.53. The trade was a 27.00% decrease in their position. 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 worth $12,324,407 over the last 90 days. 18.84% of the stock is owned by corporate insiders.

Royalty Pharma Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to companies and inventors in exchange for royalty interests in medicines. It acquires existing royalties and helps finance drug development and commercialization through royalty-based transactions and other forms of funding.

The company's portfolio includes royalty interests in medicines across a range of therapeutic areas, spanning both approved treatments and products in development. Royalty Pharma generally earns revenue when these medicines are sold; it does not operate as a conventional drug manufacturer or commercialize medicines itself.

Founded in 1996 by Pablo Legorreta, the company became publicly listed in 2020.

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