Headlands Technologies LLC acquired a new stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 90,729 shares of the biopharmaceutical company's stock, valued at approximately $5,087,000.
Other institutional investors also recently modified their holdings of the company. Morgan Stanley increased its stake in Royalty Pharma by 25.2% in the fourth quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company's stock valued at $2,135,790,000 after purchasing an additional 11,110,115 shares in the last quarter. Capital International Investors increased its position in shares of Royalty Pharma by 14.3% during the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company's stock worth $1,201,870,000 after acquiring an additional 3,891,615 shares in the last quarter. State Street Corp raised its holdings in shares of Royalty Pharma by 3.7% in the 4th quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company's stock worth $411,502,000 after acquiring an additional 376,888 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Royalty Pharma by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company's stock worth $297,465,000 after acquiring an additional 102,430 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Royalty Pharma by 9.7% in the 4th quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company's stock valued at $197,331,000 after acquiring an additional 449,498 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.
Royalty Pharma Price Performance
Shares of Royalty Pharma stock opened at $60.85 on Monday. The firm has a market capitalization of $34.99 billion, a PE ratio of 41.97, a price-to-earnings-growth ratio of 1.42 and a beta of 0.43. 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 PLC has a 12 month low of $34.08 and a 12 month high of $62.46. The business's 50-day moving average price is $58.16 and its 200-day moving average price is $52.50.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.05. The company had revenue of $674.14 million during 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%. Sell-side analysts forecast that Royalty Pharma PLC will post 5.3 EPS for the current fiscal year.
Royalty Pharma Dividend Announcement
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 $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, August 14th. Royalty Pharma's payout ratio is presently 64.83%.
Analyst Ratings Changes
RPRX has been the subject of a number of recent research reports. Weiss Ratings reissued a "buy (b-)" rating on shares of Royalty Pharma in a report on Wednesday, August 12th. Bank of America reissued a "buy" rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. Morgan Stanley reissued an "overweight" rating and set a $65.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. The Goldman Sachs Group reissued a "buy" rating and set a $66.00 target price on shares of Royalty Pharma in a report on Thursday, August 6th. Finally, TD Cowen upped their price target on Royalty Pharma from $50.00 to $65.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $60.86.
Check Out Our Latest Stock Report on RPRX
Insider Buying and Selling
In other news, EVP Marshall Urist sold 9,099 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total value of $508,452.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $59.97, for a total transaction of $5,997,000.00. Following the transaction, the executive vice president directly owned 370,401 shares in the company, valued at approximately $22,212,947.97. This represents a 21.26% decrease in their position. 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 90 days, insiders sold 398,197 shares of company stock valued at $22,513,280. Company insiders own 18.84% of the company's stock.
About Royalty Pharma
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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.
See Also
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).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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