Arrowstreet Capital Limited Partnership Acquires 31,091 Shares of Royalty Pharma PLC $RPRX

Key Points

• Arrowstreet Capital increased its stake in Royalty Pharma by 0.9% in the fourth quarter, adding 31,091 shares to bring its total holdings to 3,313,265 shares valued at about $128 million.
• Several other institutional investors also trimmed or added to RPRX positions, and institutions now own 54.35% of the company, while insiders hold 18.84%.
• Royalty Pharma reported better-than-expected EPS of $1.30 for the latest quarter, paid a quarterly dividend of $0.235 per share, and has a consensus Wall Street rating of Buy with an average target price of $53.71.

Arrowstreet Capital Limited Partnership boosted its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,313,265 shares of the biopharmaceutical company's stock after acquiring an additional 31,091 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.57% of Royalty Pharma worth $128,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RPRX. Phillips Wealth Planners LLC increased its holdings in shares of Royalty Pharma by 1.9% during the fourth quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company's stock worth $521,000 after buying an additional 242 shares in the last quarter. Strs Ohio increased its holdings in shares of Royalty Pharma by 2.8% during the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company's stock worth $360,000 after buying an additional 252 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Royalty Pharma by 0.6% during 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 buying an additional 255 shares in the last quarter. Cary Street Partners Financial LLC increased its holdings 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 worth $943,000 after buying an additional 260 shares in the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 288 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Insiders Place Their Bets

In other Royalty Pharma news, EVP Marshall Urist sold 13,684 shares of the firm's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $52.75, for a total value of $721,831.00. Following the completion of the sale, the executive vice president directly owned 18,197 shares in the company, valued at approximately $959,891.75. This trade represents a 42.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the transaction, the director directly owned 191,803 shares in the company, valued at $10,165,559. This trade represents a 1.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 199,185 shares of company stock worth $10,082,926. 18.84% of the stock is currently owned by company insiders.

Royalty Pharma Stock Down 1.1%

Royalty Pharma stock opened at $54.27 on Tuesday. The firm has a market capitalization of $31.25 billion, a PE ratio of 36.92, a P/E/G ratio of 1.51 and a beta of 0.43. 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 company's 50-day moving average is $51.71 and its 200-day moving average is $45.72. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $56.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.08. The firm had revenue of $630.58 million during the quarter, compared to the consensus estimate of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. Sell-side analysts anticipate that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.235 per share. The ex-dividend date was Friday, May 15th. This represents a $0.94 annualized dividend and a dividend yield of 1.7%. Royalty Pharma's dividend payout ratio is 63.95%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RPRX. Wall Street Zen raised shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. UBS Group increased their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Weiss Ratings cut shares of Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 15th. JPMorgan Chase & Co. increased their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, TD Cowen reissued a "buy" rating on shares of Royalty Pharma in a research note on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Royalty Pharma currently has a consensus rating of "Buy" and an average target price of $53.71.

Royalty Pharma 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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