Royalty Pharma PLC $RPRX Stock Acquired by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its Royalty Pharma stake by 15.7% in the third quarter, bringing its holdings to 387,373 shares worth approximately $22.6 million. Institutional investors own 54.35% of RPRX.
• Royalty Pharma insiders sold 208,252 shares valued at roughly $12.3 million over the past three months, including a 100,000-share sale by EVP Christopher Hite under a pre-arranged trading plan.
• RPRX traded at $65.93, near its 52-week high, while analysts maintained an overall “Buy” consensus with an average price target of $61.57. The company also declared a quarterly dividend of $0.235 per share, implying a 1.4% yield.

Asset Management One Co. Ltd. lifted its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 15.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 387,373 shares of the biopharmaceutical company's stock after buying an additional 52,495 shares during the period. Asset Management One Co. Ltd. owned about 0.07% of Royalty Pharma worth $22,607,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in RPRX. Viewpoint Investment Partners Corp bought a new position in shares of Royalty Pharma during the 3rd quarter valued at approximately $479,000. Signaturefd LLC increased its position in Royalty Pharma by 13.4% during the third quarter. Signaturefd LLC now owns 4,818 shares of the biopharmaceutical company's stock valued at $281,000 after acquiring an additional 569 shares during the last quarter. Wedbush Securities Inc. bought a new position in Royalty Pharma during the third quarter valued at $250,000. Yousif Capital Management LLC raised its stake in shares of Royalty Pharma by 7.0% in the third quarter. Yousif Capital Management LLC now owns 7,424 shares of the biopharmaceutical company's stock valued at $433,000 after acquiring an additional 485 shares during the period. Finally, MBL Wealth LLC raised its stake in shares of Royalty Pharma by 7.3% in the third quarter. MBL Wealth LLC now owns 3,908 shares of the biopharmaceutical company's stock valued at $228,000 after acquiring an additional 266 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00. Following the completion of the sale, the executive vice president directly owned 270,401 shares in the company, valued at $15,826,570.53. The trade was a 27.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of Royalty Pharma stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $57.10, for a total value of $235,594.60. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 208,252 shares of company stock worth $12,324,407 in the last three months. Corporate insiders own 18.84% of the company's stock.

Royalty Pharma Stock Up 1.7%

NASDAQ:RPRX opened at $65.93 on Friday. The company has a market cap of $37.91 billion, a price-to-earnings ratio of 45.47, a price-to-earnings-growth ratio of 1.78 and a beta of 0.42. Royalty Pharma PLC has a twelve month low of $36.03 and a twelve month high of $66.29. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88. The stock has a fifty day simple moving average of $60.15 and a 200-day simple moving average of $52.99.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The firm had revenue of $674.14 million for the quarter, compared to analysts' expectations of $758.93 million. Analysts anticipate that Royalty Pharma PLC will post 5.29 EPS for the current year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be issued a $0.2350 dividend. This represents a $0.94 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Royalty Pharma's dividend payout ratio is currently 64.83%.

Analyst Ratings Changes

RPRX has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of Royalty Pharma from $65.00 to $67.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 7th. Weiss Ratings raised shares of Royalty Pharma from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, September 14th. Bank of America reissued a "buy" rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. The Goldman Sachs Group restated a "buy" rating and set a $66.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. Finally, Wall Street Zen lowered Royalty Pharma from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 26th. Eight investment analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, Royalty Pharma currently has an average rating of "Buy" and a consensus target price of $61.57.

About Royalty Pharma

Royalty Pharma plc NASDAQ: RPRX is a biopharmaceutical royalty investment company that provides funding to life sciences companies, academic institutions, and other organizations in exchange for rights to future payments tied to approved or development-stage medicines. Its business model gives innovators access to capital while allowing Royalty Pharma to participate in the long-term commercial success of pharmaceutical products.

The company acquires and manages royalty interests across a broad range of therapeutic areas, including immunology, oncology, neuroscience, rare diseases, and infectious diseases.

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