Los Angeles Capital Management LLC Purchases 212,294 Shares of Royalty Pharma PLC $RPRX

Key Points

• Los Angeles Capital Management LLC increased its Royalty Pharma stake by 20.9% in the fourth quarter, buying 212,294 additional shares and bringing its total holding to 1,229,036 shares worth about $45.4 million.
• Royalty Pharma reported better-than-expected earnings for the quarter, posting $1.30 EPS versus estimates of $1.22, though revenue of $630.58 million came in below analyst expectations.
• The company also declared a quarterly dividend of $0.235 per share, while analysts remain broadly positive with a consensus Buy rating and an average price target of $53.71.

Los Angeles Capital Management LLC lifted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 20.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,229,036 shares of the biopharmaceutical company's stock after purchasing an additional 212,294 shares during the quarter. Los Angeles Capital Management LLC owned about 0.21% of Royalty Pharma worth $45,401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in RPRX. Royal Bank of Canada boosted its position in shares of Royalty Pharma by 367.7% during the 1st quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company's stock worth $6,342,000 after purchasing an additional 160,191 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Royalty Pharma by 20.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company's stock worth $2,490,000 after purchasing an additional 13,489 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Royalty Pharma during the 1st quarter worth about $264,000. Intech Investment Management LLC boosted its position in shares of Royalty Pharma by 41.0% during the 1st quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company's stock worth $1,494,000 after purchasing an additional 13,951 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Royalty Pharma by 21.4% during the 2nd quarter. Invesco Ltd. now owns 1,559,378 shares of the biopharmaceutical company's stock worth $56,184,000 after purchasing an additional 274,960 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Trading Up 1.5%

NASDAQ:RPRX opened at $55.87 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market cap of $32.17 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 1.54 and a beta of 0.43. Royalty Pharma PLC has a 52 week low of $33.37 and a 52 week high of $56.07. The firm has a 50-day moving average price of $50.81 and a two-hundred day moving average price of $45.01.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. The firm had revenue of $630.58 million during the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. On average, equities analysts expect that Royalty Pharma PLC will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently disclosed 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 is Friday, May 15th. This represents a $0.94 annualized dividend and a yield of 1.7%. Royalty Pharma's dividend payout ratio (DPR) is 63.95%.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, EVP Marshall Urist sold 13,684 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $52.75, for a total value of $721,831.00. Following the completion of the sale, the executive vice president owned 18,197 shares in the company, valued at approximately $959,891.75. This trade represents a 42.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 transaction of $3,476,258.02. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 199,185 shares of company stock worth $10,082,926. Insiders own 18.84% of the company's stock.

Analysts Set New Price Targets

RPRX has been the topic of a number of research analyst reports. Weiss Ratings cut shares of Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, May 15th. Morgan Stanley increased their price objective on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, April 10th. TD Cowen reaffirmed a "buy" rating on shares of Royalty Pharma in a research report on Friday, February 27th. Wall Street Zen raised shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $53.71.

Royalty Pharma 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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