Quantinno Capital Management LP Buys 41,417 Shares of Royalty Pharma PLC $RPRX

Key Points

• Quantinno Capital Management increased its Royalty Pharma stake by 12.1% in the first quarter, buying 41,417 shares to own 382,571 shares valued at approximately $18.35 million. Institutional investors collectively own 54.35% of RPRX.
• Insiders have sold 393,009 shares worth about $21.6 million over the past three months, including significant sales by executives Christopher Hite and Terrance P. Coyne under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a positive outlook, with seven Buy ratings and an average price target of $56.57. Royalty Pharma also announced a quarterly dividend of $0.235 per share, representing a 1.6% annualized yield.

Quantinno Capital Management LP increased its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 382,571 shares of the biopharmaceutical company's stock after buying an additional 41,417 shares during the period. Quantinno Capital Management LP owned 0.07% of Royalty Pharma worth $18,352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RPRX. LM Advisors LLC bought a new position in Royalty Pharma in the fourth quarter worth approximately $26,000. Lloyd Advisory Services LLC. bought a new stake in shares of Royalty Pharma during the fourth quarter valued at approximately $30,000. Private Trust Co. NA increased its holdings in shares of Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 288 shares in the last quarter. Blue Trust Inc. raised its position in shares of Royalty Pharma by 173.4% during the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 437 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of Royalty Pharma by 66.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company's stock worth $43,000 after purchasing an additional 446 shares during the period. 54.35% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Christopher Hite sold 100,000 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $56.52, for a total transaction of $5,652,000.00. Following the transaction, the executive vice president directly owned 459,399 shares in the company, valued at approximately $25,965,231.48. The trade was a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total transaction 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. In the last three months, insiders have sold 393,009 shares of company stock worth $21,601,827. Company insiders own 18.84% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RPRX shares. Weiss Ratings downgraded shares of Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, May 15th. TD Cowen upped their price objective on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Morgan Stanley raised their price objective on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. Wall Street Zen upgraded shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Finally, Citigroup boosted their target price 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. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Royalty Pharma presently has an average rating of "Buy" and an average target price of $56.57.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock opened at $58.43 on Monday. The stock has a fifty day simple moving average of $56.19 and a 200 day simple moving average of $49.93. Royalty Pharma PLC has a 12-month low of $34.08 and a 12-month high of $60.44. The company has a market capitalization of $33.65 billion, a P/E ratio of 39.75, a price-to-earnings-growth ratio of 10.35 and a beta of 0.43. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The business had revenue of $630.58 million during the quarter, compared to analyst estimates of $881.69 million. On average, sell-side analysts anticipate that Royalty Pharma PLC will post 5.18 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, August 14th. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. Royalty Pharma's dividend payout ratio is currently 63.95%.

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.

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.