Commerzbank Aktiengesellschaft FI Invests $1.20 Million in Royalty Pharma PLC $RPRX

Key Points

• Commerzbank Aktiengesellschaft FI purchased a new 21,407-share stake in Royalty Pharma valued at approximately $1.2 million. Institutional investors now own 54.35% of the company.
• Royalty Pharma exceeded quarterly earnings expectations, reporting $1.32 in EPS versus the $1.27 consensus, although revenue of $674.14 million fell short of the $758.93 million estimate.
• The company declared a quarterly dividend of $0.235 per share, equivalent to $0.94 annually and a 1.6% yield. Analysts maintain a consensus “Buy” rating with an average price target of $60.86, while insiders have sold nearly $20 million of stock over the past 90 days.

Commerzbank Aktiengesellschaft FI purchased a new stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,407 shares of the biopharmaceutical company's stock, valued at approximately $1,200,000.

Other large investors have also recently modified their holdings of the company. Barton Investment Management bought a new stake in shares of Royalty Pharma in the 1st quarter worth approximately $905,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Royalty Pharma by 16.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company's stock worth $6,662,000 after purchasing an additional 24,048 shares during the last quarter. Qsemble Capital Management LP bought a new stake in shares of Royalty Pharma in the 4th quarter worth approximately $2,875,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Royalty Pharma in the fourth quarter valued at $4,923,000. Finally, Thrivent Financial for Lutherans increased its position in shares of Royalty Pharma by 10.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 233,320 shares of the biopharmaceutical company's stock valued at $9,016,000 after buying an additional 22,015 shares during the period. Institutional investors own 54.35% of the company's stock.

Insider Activity

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 shares were sold at an average price of $55.88, for a total value of $508,452.12. The sale was disclosed in a 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, EVP Christopher Hite sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $56.52, for a total transaction of $5,652,000.00. Following the sale, the executive vice president directly owned 459,399 shares in the company, valued at approximately $25,965,231.48. This represents a 17.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 362,596 shares of company stock worth $19,992,538. Corporate insiders own 18.84% of the company's stock.

Royalty Pharma Trading Up 0.4%

Shares of NASDAQ RPRX opened at $59.69 on Wednesday. The stock has a market capitalization of $34.32 billion, a P/E ratio of 41.17, a PEG ratio of 1.37 and a beta of 0.43. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80. The business's 50 day moving average is $56.99 and its two-hundred day moving average is $51.46. Royalty Pharma PLC has a 1-year low of $34.08 and a 1-year high of $60.44.

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

Royalty Pharma Dividend Announcement

The business 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 dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma's dividend payout ratio is 64.83%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on RPRX shares. Wall Street Zen downgraded shares of Royalty Pharma from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. UBS Group lifted their target price on Royalty Pharma from $51.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. The Goldman Sachs Group reissued a "buy" rating and set a $66.00 price objective on shares of Royalty Pharma in a report on Thursday, August 6th. Morgan Stanley reissued an "overweight" rating and issued a $65.00 target price on shares of Royalty Pharma in a report on Thursday, August 6th. Finally, Bank of America reiterated a "buy" rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $60.86.

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.

Want to see what other hedge funds are holding RPRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royalty Pharma PLC (NASDAQ:RPRX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source