Cooper Investors PTY Ltd. reduced its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 22.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,249 shares of the biopharmaceutical company's stock after selling 47,572 shares during the quarter. Royalty Pharma comprises approximately 4.2% of Cooper Investors PTY Ltd.'s holdings, making the stock its 8th largest position. Cooper Investors PTY Ltd.'s holdings in Royalty Pharma were worth $9,209,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. LM Advisors LLC bought a new position in shares of Royalty Pharma during the 4th quarter valued at about $26,000. Blue Trust Inc. increased its position in Royalty Pharma by 173.4% during the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 437 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new position in shares of Royalty Pharma during the fourth quarter valued at approximately $30,000. Private Trust Co. NA grew its holdings in shares of Royalty Pharma by 52.9% in the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 288 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Royalty Pharma by 34.7% during the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 282 shares during the period. Institutional investors own 54.35% of the company's stock.
Insiders Place Their Bets
In related news, CFO Terrance P. Coyne sold 64,399 shares of the company'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. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total value of $508,452.12. 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. In the last 90 days, insiders have sold 393,009 shares of company stock worth $21,601,827. 18.84% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the stock. UBS Group increased their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a "buy" rating in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Citigroup increased their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. TD Cowen lifted their price target on Royalty Pharma from $50.00 to $65.00 and gave the company a "buy" rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. boosted their price target on Royalty Pharma from $50.00 to $58.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $56.57.
Get Our Latest Report on RPRX
Royalty Pharma Stock Up 0.5%
Shares of Royalty Pharma stock opened at $57.48 on Wednesday. The firm's 50 day moving average price is $56.32 and its 200-day moving average price is $50.17. 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 52-week low of $34.08 and a 52-week high of $60.44. The company has a market cap of $33.10 billion, a P/E ratio of 39.10, a PEG ratio of 10.13 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, topping the consensus estimate of $1.22 by $0.08. The firm had revenue of $630.58 million during the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. On average, sell-side analysts predict that Royalty Pharma PLC will post 5.18 EPS 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. Stockholders of record on Friday, August 14th will be issued a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma's dividend payout ratio is currently 63.95%.
About Royalty Pharma
(
Free Report)
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.
Further Reading
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).
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