Hillsdale Investment Management Inc. Acquires 23,700 Shares of Royalty Pharma PLC $RPRX

Hillsdale Investment Management Inc. lifted its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 5,266.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,150 shares of the biopharmaceutical company's stock after acquiring an additional 23,700 shares during the period. Hillsdale Investment Management Inc.'s holdings in Royalty Pharma were worth $933,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Strs Ohio increased its position in shares of Royalty Pharma by 2.8% during the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company's stock worth $360,000 after acquiring an additional 252 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Royalty Pharma by 0.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company's stock worth $1,673,000 after purchasing an additional 255 shares in the last quarter. Cary Street Partners Financial LLC grew its position in Royalty Pharma by 1.1% in the 4th quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company's stock worth $943,000 after purchasing an additional 260 shares in the last quarter. Private Trust Co. NA grew its position in Royalty Pharma by 52.9% in the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 288 shares in the last quarter. Finally, Hudson Bay Capital Management LP grew its position in Royalty Pharma by 1.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 29,384 shares of the biopharmaceutical company's stock worth $1,037,000 after purchasing an additional 289 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Stock Down 1.0%

RPRX opened at $55.18 on Tuesday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. The stock has a market cap of $31.77 billion, a price-to-earnings ratio of 37.54, a PEG ratio of 1.53 and a beta of 0.40. Royalty Pharma PLC has a twelve month low of $32.65 and a twelve month high of $56.07. The company's 50-day moving average price is $50.08 and its two-hundred day moving average price is $44.61.

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 analysts' consensus estimates of $1.22 by $0.08. The firm had revenue of $630.58 million for the quarter, compared to analysts' expectations of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. As a group, equities analysts expect that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Announces Dividend

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

Insider Activity at Royalty Pharma

In related news, EVP Marshall Urist sold 13,684 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $52.75, for a total transaction of $721,831.00. Following the sale, the executive vice president directly owned 18,197 shares in the company, valued at approximately $959,891.75. This represents a 42.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $53.00, for a total transaction of $161,385.00. Following the sale, the director owned 191,803 shares in the company, valued at $10,165,559. The trade was a 1.56% 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. In the last ninety days, insiders have sold 199,185 shares of company stock worth $10,082,926. 18.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RPRX shares. TD Cowen reaffirmed a "buy" rating on shares of Royalty Pharma in a research report on Friday, February 27th. Citigroup upped their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their price objective on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Royalty Pharma in a research report on Thursday, February 12th. Finally, UBS Group upped their price objective on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a "buy" rating in a research report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $53.71.

About Royalty Pharma

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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