Tidal Investments LLC Has $6.63 Million Holdings in Royalty Pharma PLC $RPRX

Key Points

• Tidal Investments increased its Royalty Pharma stake by 298.6% during the second quarter, holding 118,323 shares valued at approximately $6.63 million. Institutional investors and hedge funds own 54.35% of RPRX.
• Analysts remain broadly bullish, with eight Buy ratings and a consensus target price of $61.29. Recent targets range from $62 to $68.
• Royalty Pharma reported quarterly EPS of $1.32, exceeding estimates of $1.27, though revenue of $674.14 million fell short of the $758.93 million consensus. The company also pays a quarterly dividend of $0.235 per share, representing a 1.6% yield.

Tidal Investments LLC raised its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 298.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,323 shares of the biopharmaceutical company's stock after buying an additional 88,642 shares during the period. Tidal Investments LLC's holdings in Royalty Pharma were worth $6,634,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RPRX. LM Advisors LLC bought a new position in shares of Royalty Pharma during the 4th quarter worth approximately $26,000. Lloyd Advisory Services LLC. acquired a new position in shares of Royalty Pharma during the 4th quarter worth approximately $30,000. Blue Trust Inc. raised its stake in Royalty Pharma by 173.4% in the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company's stock valued at $33,000 after acquiring an additional 437 shares during the period. CIBC Private Wealth Group LLC raised its stake in Royalty Pharma by 66.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company's stock valued at $43,000 after acquiring an additional 446 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in Royalty Pharma by 31.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company's stock valued at $45,000 after purchasing an additional 306 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Royalty Pharma

In related news, EVP Marshall Urist sold 9,099 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total transaction of $508,452.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $59.97, for a total transaction of $5,997,000.00. Following the transaction, the executive vice president directly owned 370,401 shares in the company, valued at approximately $22,212,947.97. This represents a 21.26% decrease in their ownership of the stock. 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 three months, insiders sold 398,197 shares of company stock valued at $22,513,280. 18.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RPRX has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $66.00 price objective on shares of Royalty Pharma in a research report on Thursday, August 6th. Morgan Stanley reissued an "overweight" rating and issued a $65.00 price objective on shares of Royalty Pharma in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on shares of Royalty Pharma from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. TD Cowen lifted their target price on shares of Royalty Pharma from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Tuesday, September 8th. Finally, Wall Street Zen raised shares of Royalty Pharma from a "buy" rating to a "strong-buy" rating in a report on Saturday. Eight investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $61.29.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $58.61 on Friday. The firm has a market cap of $33.70 billion, a P/E ratio of 40.42, a price-to-earnings-growth ratio of 1.38 and a beta of 0.44. The business's 50 day moving average is $59.33 and its 200-day moving average is $53.62. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 1-year low of $34.63 and a 1-year high of $64.38.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The business had revenue of $674.14 million during the quarter, compared to the consensus estimate of $758.93 million. Equities research analysts predict that Royalty Pharma PLC will post 5.32 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 14th were issued a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma's dividend payout ratio (DPR) is currently 64.83%.

Royalty Pharma Company Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to life sciences companies in exchange for rights to receive future royalty payments from commercialized or late-stage therapies. Rather than developing and marketing medicines itself, the company invests in pharmaceutical and biotechnology innovations and seeks to generate income from the resulting royalty streams.

Its portfolio is linked to a range of therapies across areas including oncology, immunology, neuroscience, rare diseases and other specialty markets.

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