CI Investments Inc. Has $8.33 Million Stock Holdings in Royalty Pharma PLC $RPRX

Key Points

• CI Investments Inc. boosted its Royalty Pharma stake by 154.8% in the first quarter, ending with 173,663 shares valued at about $8.33 million.
• Royalty Pharma reported Q1 EPS of $1.30, topping estimates, though revenue of $630.58 million fell short of analyst expectations.
• The company declared a quarterly dividend of $0.235 per share, while analysts remain mostly upbeat with a Buy consensus and an average price target of $56.57.

CI Investments Inc. increased its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 154.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,663 shares of the biopharmaceutical company's stock after buying an additional 105,516 shares during the period. CI Investments Inc.'s holdings in Royalty Pharma were worth $8,331,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. ABN Amro Investment Solutions bought a new stake in shares of Royalty Pharma during the first quarter valued at approximately $1,541,000. PNC Financial Services Group Inc. lifted its holdings in Royalty Pharma by 19.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 15,931 shares of the biopharmaceutical company's stock worth $764,000 after buying an additional 2,597 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new position in shares of Royalty Pharma during the first quarter valued at $95,000. Andra AP fonden bought a new position in Royalty Pharma in the first quarter valued at about $8,515,000. Finally, Meeder Advisory Services Inc. increased its position in Royalty Pharma by 2.8% in the first quarter. Meeder Advisory Services Inc. now owns 18,948 shares of the biopharmaceutical company's stock worth $909,000 after purchasing an additional 517 shares during the period. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Stock Up 0.5%

Royalty Pharma stock opened at $59.02 on Friday. The company has a 50 day moving average of $55.48 and a 200-day moving average of $49.14. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a twelve month low of $34.08 and a twelve month high of $59.44. The stock has a market capitalization of $33.99 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 10.40 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The business had revenue of $630.58 million for the quarter, compared to analysts' expectations of $881.69 million. On average, equities research analysts anticipate that Royalty Pharma PLC will post 5.18 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a dividend of $0.235 per share. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RPRX. Wall Street Zen upgraded shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. TD Cowen upped their target price 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. Citigroup increased their price target on Royalty Pharma from $50.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Weiss Ratings lowered Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, May 15th. Finally, UBS Group upped their price objective on Royalty Pharma from $51.00 to $57.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Royalty Pharma currently has a consensus rating of "Buy" and an average price target of $56.57.

Insider Buying and Selling

In other Royalty Pharma news, EVP Marshall Urist sold 9,099 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value of $508,452.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the business's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the transaction, the director owned 191,803 shares in the company, valued at approximately $10,165,559. The trade was a 1.56% 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. Over the last ninety days, insiders have sold 427,800 shares of company stock worth $23,333,723. Insiders own 18.84% of the company's stock.

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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