Geode Capital Management LLC Acquires 102,430 Shares of Royalty Pharma PLC $RPRX

Key Points

• Geode Capital Management increased its stake in Royalty Pharma by 1.3% in the fourth quarter, buying 102,430 additional shares and bringing its holdings to 7,719,843 shares worth about $297.5 million.
• Insider selling was notable recently, with Director Gregory Norden and CFO Terrance P. Coyne both selling shares under pre-arranged 10b5-1 plans; insiders sold 199,185 shares worth about $10.1 million over the last quarter.
• Royalty Pharma beat quarterly EPS estimates with earnings of $1.30 per share, and it also announced a $0.235 quarterly dividend, translating to a 1.7% annual yield.

Geode Capital Management LLC boosted its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,719,843 shares of the biopharmaceutical company's stock after buying an additional 102,430 shares during the period. Geode Capital Management LLC owned approximately 1.34% of Royalty Pharma worth $297,465,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Capital International Investors increased its position in shares of Royalty Pharma by 24.4% during the third quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company's stock valued at $960,064,000 after purchasing an additional 5,332,074 shares during the period. Dorsey Asset Management LLC bought a new stake in shares of Royalty Pharma during the third quarter valued at approximately $82,924,000. Qube Research & Technologies Ltd increased its position in shares of Royalty Pharma by 737.3% during the third quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company's stock valued at $87,557,000 after purchasing an additional 2,185,366 shares during the period. Millennium Management LLC increased its position in shares of Royalty Pharma by 379.2% during the third quarter. Millennium Management LLC now owns 2,235,133 shares of the biopharmaceutical company's stock valued at $78,855,000 after purchasing an additional 1,768,702 shares during the period. Finally, Clark Capital Management Group Inc. bought a new stake in shares of Royalty Pharma during the third quarter valued at approximately $61,805,000. 54.35% of the stock is owned by institutional investors.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, Director Gregory Norden sold 3,045 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the transaction, 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 ownership of the stock. The transaction 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, CFO Terrance P. Coyne sold 64,399 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. 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. Over the last quarter, insiders have sold 199,185 shares of company stock valued at $10,082,926. 18.84% of the stock is currently owned by company insiders.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $55.18 on Tuesday. The business's 50-day simple moving average is $50.08 and its 200 day simple moving average is $44.61. The stock has a market cap of $31.77 billion, a price-to-earnings ratio of 37.54, a P/E/G ratio of 1.53 and a beta of 0.40. Royalty Pharma PLC has a 12-month low of $32.65 and a 12-month high of $56.07. 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 (NASDAQ:RPRX - Get Free Report) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The firm had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. As a group, research analysts anticipate that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.94 annualized dividend and a yield of 1.7%. Royalty Pharma's dividend payout ratio is presently 63.95%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Weiss Ratings cut Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, May 15th. Morgan Stanley boosted their price objective on Royalty Pharma from $61.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, April 10th. Wall Street Zen upgraded Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. TD Cowen restated a "buy" rating on shares of Royalty Pharma in a research report on Friday, February 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Royalty Pharma from $50.00 to $58.00 and gave the company 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.com, Royalty Pharma currently has a consensus rating of "Buy" and an average price target of $53.71.

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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