Royalty Pharma PLC $RPRX Shares Purchased by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its stake in Royalty Pharma by 31.2% in the fourth quarter, buying an additional 253,379 shares and bringing its total holdings to 1,065,103 shares worth about $41.2 million.
• Insiders have been selling shares, including Director Gregory Norden and CFO Terrance P. Coyne, with total insider sales of 199,185 shares valued at about $10.1 million over the last 90 days.
• Royalty Pharma reported mixed quarterly results, beating EPS estimates at $1.30 but falling short on revenue, while also announcing a $0.235 quarterly dividend and receiving mostly bullish analyst ratings with a consensus “Buy” target of $53.71.

BNP Paribas Financial Markets boosted its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 31.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,065,103 shares of the biopharmaceutical company's stock after purchasing an additional 253,379 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.18% of Royalty Pharma worth $41,156,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RPRX. Lloyd Advisory Services LLC. acquired a new position in Royalty Pharma in the fourth quarter worth $30,000. Smartleaf Asset Management LLC boosted its holdings in Royalty Pharma by 868.1% in the third quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 790 shares during the period. Private Trust Co. NA boosted its holdings 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 purchasing an additional 288 shares during the period. Larson Financial Group LLC boosted its holdings in Royalty Pharma by 31.9% in the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 306 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Royalty Pharma by 16.9% in the third quarter. Fifth Third Bancorp now owns 2,499 shares of the biopharmaceutical company's stock worth $88,000 after purchasing an additional 362 shares during the period. Institutional investors and hedge funds own 54.35% of the company's stock.

Insider Activity at Royalty Pharma

In related news, Director Gregory Norden sold 3,045 shares of Royalty Pharma 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 sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Royalty Pharma 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. 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. Insiders have sold a total of 199,185 shares of company stock worth $10,082,926 over the last ninety days. 18.84% of the stock is currently owned by corporate insiders.

Royalty Pharma Stock Performance

RPRX stock opened at $54.97 on Thursday. 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 stock has a market capitalization of $31.65 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 1.48 and a beta of 0.43. Royalty Pharma PLC has a 1 year low of $33.25 and a 1 year high of $56.07. The stock's fifty day moving average is $50.44 and its two-hundred day moving average is $44.82.

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

Royalty Pharma Announces Dividend

The business also recently disclosed 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 payout ratio is currently 63.95%.

Analyst Upgrades and Downgrades

RPRX has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Citigroup raised their target price on Royalty Pharma from $50.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Weiss Ratings cut Royalty Pharma from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 15th. TD Cowen reiterated a "buy" rating on shares of Royalty Pharma in a research note on Friday, February 27th. Finally, Morgan Stanley raised their target price on Royalty Pharma from $61.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $53.71.

Royalty Pharma Company 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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