30,000 Shares in Royalty Pharma PLC $RPRX Purchased by Monetta Financial Services Inc.

Monetta Financial Services Inc. acquired a new position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 30,000 shares of the biopharmaceutical company's stock, valued at approximately $1,682,000. Royalty Pharma comprises about 1.1% of Monetta Financial Services Inc.'s investment portfolio, making the stock its 25th largest holding.

Other large investors have also modified their holdings of the company. Phillips Wealth Planners LLC lifted its stake 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 worth $521,000 after acquiring an additional 242 shares during the last quarter. Strs Ohio grew its position in Royalty Pharma by 2.8% in the 4th quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company's stock valued at $360,000 after acquiring an additional 252 shares during the last quarter. Glenmede Trust Co. NA grew its position in Royalty Pharma by 3.4% in the 1st quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company's stock valued at $375,000 after acquiring an additional 254 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake 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 purchasing an additional 255 shares during the period. Finally, Cary Street Partners Financial LLC boosted its stake in shares of Royalty Pharma by 1.1% during the fourth quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company's stock valued at $943,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Up 3.4%

Shares of Royalty Pharma stock opened at $61.73 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $61.80. The firm's 50-day moving average is $57.13 and its two-hundred day moving average is $51.61. The stock has a market cap of $35.49 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 1.39 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The business had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. As a group, research analysts expect that Royalty Pharma PLC will post 5.3 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors 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 dividend on an annualized basis and a yield of 1.5%. Royalty Pharma's payout ratio is 64.83%.

Insiders Place Their Bets

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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 462,596 shares of company stock worth $25,989,538 over the last 90 days. Company insiders own 18.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RPRX. Bank of America restated a "buy" rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Citigroup lifted their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, May 7th. TD Cowen boosted their price objective on shares of Royalty Pharma from $50.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, July 13th. JPMorgan Chase & Co. upped their target price on shares of Royalty Pharma from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $66.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $60.86.

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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