Carmignac Gestion Purchases Shares of 631,200 Royalty Pharma PLC $RPRX

Key Points

• Carmignac Gestion purchased 631,200 shares of Royalty Pharma worth approximately $30.3 million, establishing a roughly 0.11% stake. Institutional investors collectively own 54.35% of the company.
• Royalty Pharma reported quarterly EPS of $1.30, exceeding analysts’ $1.22 estimate, although revenue of $630.6 million fell short of the $881.7 million consensus forecast.
• The company declared a quarterly dividend of $0.235, equal to an annualized $0.94 and a 1.6% yield. Analysts maintain a consensus “Buy” rating with a $56.57 target price, while the stock recently traded at $58.43.

Carmignac Gestion purchased a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 631,200 shares of the biopharmaceutical company's stock, valued at approximately $30,279,000. Carmignac Gestion owned approximately 0.11% of Royalty Pharma as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. NewEdge Advisors LLC purchased a new position in Royalty Pharma in the 1st quarter worth $207,000. Glenmede Trust Co. NA boosted its position in Royalty Pharma by 3.4% during the first quarter. Glenmede Trust Co. NA now owns 7,812 shares of the biopharmaceutical company's stock valued at $375,000 after buying an additional 254 shares during the period. Vestor Capital LLC boosted its position in Royalty Pharma by 597.4% during the first quarter. Vestor Capital LLC now owns 83,688 shares of the biopharmaceutical company's stock valued at $4,014,000 after buying an additional 71,688 shares during the period. Bank of America Corp DE grew its stake in shares of Royalty Pharma by 29.0% during the first quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company's stock valued at $167,696,000 after buying an additional 786,921 shares during the last quarter. Finally, Bull Harbor Capital LLC bought a new position in shares of Royalty Pharma during the first quarter valued at about $280,000. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $58.43 on Monday. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $60.44. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a 50 day simple moving average of $56.19 and a two-hundred day simple moving average of $49.93. The stock has a market cap of $33.65 billion, a P/E ratio of 39.75, a price-to-earnings-growth ratio of 10.35 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.08. The firm had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. On average, analysts forecast that Royalty Pharma PLC will post 5.18 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a $0.235 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.94 annualized dividend and a yield of 1.6%. Royalty Pharma's payout ratio is 63.95%.

Insider Activity at Royalty Pharma

In other news, Director Gregory Norden sold 3,045 shares of the firm's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the sale, the director directly owned 191,803 shares of the company's stock, valued at approximately $10,165,559. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $53.98, for a total transaction of $3,476,258.02. 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 393,009 shares of company stock valued at $21,601,827 in the last 90 days. 18.84% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Royalty Pharma from $61.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. Wall Street Zen upgraded Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. UBS Group lifted their price target on Royalty Pharma from $51.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. TD Cowen boosted their price objective on Royalty Pharma from $50.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Finally, Weiss Ratings lowered Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $56.57.

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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