Dai ichi Life Insurance Company Ltd Has $6.19 Million Stock Position in Royalty Pharma PLC $RPRX

Key Points

• Dai ichi Life Insurance reduced its stake in Royalty Pharma by 15.8% in the first quarter, selling 24,173 shares and ending with 129,074 shares worth about $6.19 million.
• Royalty Pharma reported Q1 earnings per share of $1.30, beating analyst expectations, though revenue of $630.6 million came in below estimates. The company also has a quarterly dividend of $0.235 per share, implying a 1.6% annual yield.
• Analyst sentiment remains positive, with several firms raising price targets and the stock carrying a consensus Buy rating and average target price of $56.57.

Dai ichi Life Insurance Company Ltd lowered its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 15.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,074 shares of the biopharmaceutical company's stock after selling 24,173 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in Royalty Pharma were worth $6,192,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Barton Investment Management acquired a new stake in Royalty Pharma during the first quarter worth about $905,000. Nomura Asset Management Co. Ltd. raised its holdings in Royalty Pharma by 16.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company's stock valued at $6,662,000 after acquiring an additional 24,048 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Royalty Pharma in the 4th quarter valued at approximately $4,923,000. Qsemble Capital Management LP bought a new stake in shares of Royalty Pharma in the 4th quarter worth approximately $2,875,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of Royalty Pharma by 10.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 233,320 shares of the biopharmaceutical company's stock worth $9,016,000 after acquiring an additional 22,015 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Stock Down 0.3%

NASDAQ RPRX opened at $58.83 on Friday. Royalty Pharma PLC has a 1-year low of $34.08 and a 1-year high of $59.72. The company has a market capitalization of $33.88 billion, a price-to-earnings ratio of 40.02, a PEG ratio of 10.42 and a beta of 0.43. The stock's 50 day moving average is $55.60 and its two-hundred day moving average is $49.21. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86.

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

Royalty Pharma Dividend Announcement

The business 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 $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma's dividend payout ratio is 63.95%.

Analyst Ratings Changes

A number of analysts have recently issued reports on RPRX shares. 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 raised their target price on Royalty Pharma from $51.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, April 21st. TD Cowen lifted their price target on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Morgan Stanley lifted their price target on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. Finally, 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. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $56.57.

Insider Buying and Selling

In other news, Director Gregory Norden sold 3,045 shares of the company'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 sale, the director owned 191,803 shares of the company's stock, valued at approximately $10,165,559. This represents a 1.56% decrease in their position. The transaction was disclosed in a document filed 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, 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 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 three months, insiders have sold 427,800 shares of company stock valued at $23,333,723. 18.84% of the stock is owned by insiders.

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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