Engineers Gate Manager LP Grows Position in Royalty Pharma PLC $RPRX

Engineers Gate Manager LP boosted its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 141.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,994 shares of the biopharmaceutical company's stock after acquiring an additional 80,771 shares during the quarter. Engineers Gate Manager LP's holdings in Royalty Pharma were worth $7,737,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. LM Advisors LLC acquired a new position in Royalty Pharma during the 4th quarter worth approximately $26,000. Blue Trust Inc. raised its holdings in shares of Royalty Pharma by 173.4% in the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 437 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new stake in shares of Royalty Pharma during the 4th quarter worth $30,000. CoreCap Advisors LLC grew its stake in shares of Royalty Pharma by 89.2% during the second quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 413 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake 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 purchasing an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Insiders Place Their Bets

In related news, EVP Marshall Urist sold 9,099 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total transaction of $508,452.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of the firm's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the transaction, the executive vice president directly owned 559,399 shares in the company, valued at $30,431,305.60. The trade was a 21.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 398,197 shares of company stock worth $22,513,280 over the last ninety days. Corporate insiders own 18.84% of the company's stock.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $58.75 on Friday. The firm has a market cap of $33.78 billion, a price-to-earnings ratio of 40.52, a PEG ratio of 1.43 and a beta of 0.44. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.80 and a current ratio of 2.80. Royalty Pharma PLC has a 1 year low of $34.63 and a 1 year high of $64.38. The stock's 50-day moving average is $59.32 and its two-hundred day moving average is $53.58.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.27 by $0.05. The firm had revenue of $674.14 million for the quarter, compared to the consensus estimate of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. Analysts predict that Royalty Pharma PLC will post 5.32 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 14th were given a dividend of $0.235 per share. The ex-dividend date was Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma's dividend payout ratio (DPR) is 64.83%.

Analyst Ratings Changes

RPRX has been the topic of a number of analyst reports. Bank of America restated a "buy" rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Morgan Stanley reaffirmed an "overweight" rating and set a $65.00 price objective on shares of Royalty Pharma in a research report on Thursday, August 6th. The Goldman Sachs Group reiterated a "buy" rating and issued a $66.00 price objective on shares of Royalty Pharma in a report on Thursday, August 6th. Wall Street Zen lowered Royalty Pharma from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 30th. Finally, JPMorgan Chase & Co. boosted their target price on Royalty Pharma from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma currently has a consensus rating of "Buy" and a consensus target price of $61.29.

Royalty Pharma Company Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to life sciences companies in exchange for rights to receive future royalty payments from commercialized or late-stage therapies. Rather than developing and marketing medicines itself, the company invests in pharmaceutical and biotechnology innovations and seeks to generate income from the resulting royalty streams.

Its portfolio is linked to a range of therapies across areas including oncology, immunology, neuroscience, rare diseases and other specialty markets.

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