Foster Victor Wealth Advisors LLC Acquires 33,055 Shares of Royalty Pharma PLC $RPRX

Key Points

• Foster Victor Wealth Advisors increased its Royalty Pharma stake by 15.5% in the third quarter, adding 33,055 shares to own 246,728 shares valued at approximately $14.87 million. Institutional investors hold 54.35% of RPRX.
• Analysts remain broadly positive, with eight Buy ratings and a consensus price target of $61.57. Royalty Pharma shares opened at $62.15, near their 52-week high of $64.38.
• Royalty Pharma reported quarterly EPS of $1.32, beating estimates, and declared a quarterly dividend of $0.235, equivalent to a 1.5% yield. Insiders sold 208,252 shares worth about $12.3 million over the past three months under pre-arranged trading plans.

Foster Victor Wealth Advisors LLC raised its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 15.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 246,728 shares of the biopharmaceutical company's stock after buying an additional 33,055 shares during the quarter. Foster Victor Wealth Advisors LLC's holdings in Royalty Pharma were worth $14,870,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. AMG Asset Management Group Inc. bought a new stake in shares of Royalty Pharma in the third quarter valued at approximately $212,000. Crossmark Global Holdings Inc. increased its position in Royalty Pharma by 21.9% during the third quarter. Crossmark Global Holdings Inc. now owns 11,902 shares of the biopharmaceutical company's stock worth $695,000 after acquiring an additional 2,139 shares during the period. Hosking Partners LLP increased its position in Royalty Pharma by 0.4% during the third quarter. Hosking Partners LLP now owns 489,935 shares of the biopharmaceutical company's stock worth $28,593,000 after acquiring an additional 1,827 shares during the period. Nisa Investment Advisors LLC raised its stake in Royalty Pharma by 60.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 39,174 shares of the biopharmaceutical company's stock valued at $2,286,000 after purchasing an additional 14,774 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Royalty Pharma by 28.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,168,427 shares of the biopharmaceutical company's stock valued at $68,189,000 after purchasing an additional 256,841 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RPRX shares. JPMorgan Chase & Co. increased their price target on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, August 7th. TD Cowen raised their price target on shares of Royalty Pharma from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Tuesday, September 8th. The Goldman Sachs Group restated a "buy" rating and set a $66.00 price objective on shares of Royalty Pharma in a report on Thursday, August 6th. Morgan Stanley upped their price objective on shares of Royalty Pharma from $65.00 to $67.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. Finally, Wall Street Zen lowered shares of Royalty Pharma from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 26th. Eight analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Royalty Pharma has a consensus rating of "Buy" and a consensus target price of $61.57.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $62.15 on Thursday. Royalty Pharma PLC has a 1-year low of $35.92 and a 1-year high of $64.38. The firm has a market capitalization of $35.74 billion, a PE ratio of 42.86, a PEG ratio of 1.71 and a beta of 0.42. The business's 50 day moving average is $59.62 and its 200-day moving average is $56.06. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.05. The business had revenue of $674.14 million for the quarter, compared to analysts' expectations of $758.93 million. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. Sell-side analysts predict that Royalty Pharma PLC will post 5.29 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be issued a $0.2350 dividend. This represents a $0.94 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, November 13th. Royalty Pharma's payout ratio is 64.83%.

Insider Buying and Selling at Royalty Pharma

In other news, EVP Christopher Hite sold 100,000 shares of the stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the transaction, the executive vice president owned 270,401 shares in the company, valued at approximately $15,826,570.53. This represents a 27.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $57.10, for a total transaction of $235,594.60. 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. Insiders sold a total of 208,252 shares of company stock worth $12,324,407 in the last three months. Insiders own 18.84% of the company's stock.

About Royalty Pharma

Royalty Pharma plc NASDAQ: RPRX is a biopharmaceutical royalty investment company that provides funding to life sciences companies, academic institutions, and other organizations in exchange for rights to future payments tied to approved or development-stage medicines. Its business model gives innovators access to capital while allowing Royalty Pharma to participate in the long-term commercial success of pharmaceutical products.

The company acquires and manages royalty interests across a broad range of therapeutic areas, including immunology, oncology, neuroscience, rare diseases, and infectious diseases.

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