Rockefeller Capital Management L.P. Purchases 81,747 Shares of Royalty Pharma PLC $RPRX

Key Points

• Rockefeller Capital Management sharply increased its stake in Royalty Pharma, buying 81,747 shares in the fourth quarter and lifting its holdings by 1,347.4% to 87,814 shares worth about $3.39 million.
• Royalty Pharma reported Q1 earnings of $1.30 per share, beating Wall Street estimates, though revenue of $630.6 million came in well below expectations.
• Analysts remain broadly positive on the stock, with a consensus Buy rating and an average price target of $53.71, while the company also paid a quarterly dividend of $0.235 per share.

Rockefeller Capital Management L.P. increased its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 1,347.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,814 shares of the biopharmaceutical company's stock after acquiring an additional 81,747 shares during the period. Rockefeller Capital Management L.P.'s holdings in Royalty Pharma were worth $3,393,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Phillips Wealth Planners LLC grew its stake in Royalty Pharma by 1.9% in the 4th quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company's stock valued at $521,000 after purchasing an additional 242 shares during the period. Strs Ohio grew its position in Royalty Pharma by 2.8% during the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company's stock valued at $360,000 after buying an additional 252 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Royalty Pharma by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company's stock valued at $1,673,000 after buying an additional 255 shares during the period. Cary Street Partners Financial LLC increased its holdings in Royalty Pharma by 1.1% during the fourth quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company's stock worth $943,000 after buying an additional 260 shares during the last quarter. Finally, Private Trust Co. NA raised its position in Royalty Pharma by 52.9% in the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 288 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Stock Performance

Shares of RPRX opened at $56.23 on Monday. Royalty Pharma PLC has a 1-year low of $34.08 and a 1-year high of $56.50. The company has a market capitalization of $32.38 billion, a P/E ratio of 38.25, a P/E/G ratio of 1.55 and a beta of 0.43. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The firm's 50 day simple moving average is $52.81 and its 200 day simple moving average is $46.64.

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, topping analysts' consensus estimates of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The business had revenue of $630.58 million during the quarter, compared to analysts' expectations of $881.69 million. Sell-side analysts forecast that Royalty Pharma PLC will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 15th. Royalty Pharma's dividend payout ratio (DPR) is presently 63.95%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group increased their price target on Royalty Pharma from $51.00 to $57.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. Morgan Stanley increased their target price 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. Weiss Ratings lowered shares of Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, May 15th. Wall Street Zen raised shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $53.71.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, Director Gregory Norden sold 3,045 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the sale, the director directly owned 191,803 shares in the company, valued at $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 is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of Royalty Pharma stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $54.40, for a total value of $8,160,000.00. Following the completion of the transaction, the executive vice president owned 559,399 shares in the company, valued at approximately $30,431,305.60. This represents a 21.14% decrease in their position. 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 three months, insiders sold 323,492 shares of company stock valued at $17,160,920. Company insiders own 18.84% of the company's stock.

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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