Highland Capital Management LLC boosted its holdings in shares of Royalty Pharma plc (NASDAQ: RPRX – Get Rating) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,094 shares of the biopharmaceutical company stock after purchasing an additional 689 shares during the period. Highland Capital Management LLC’s holdings in Royalty Pharma were worth $ 2,030,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of RPRX. Marathon Asset Mgmt Ltd purchased a new stake in shares of Royalty Pharma in the 4th quarter valued at approximately $ 89,357,000. State Street Corp lifted its position in shares of Royalty Pharma by 21.3% in the 4th quarter. State Street Corp now owns 7,077,330 shares of the biopharmaceutical company stock valued at $ 282,032,000 after acquiring an additional 1,242,585 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Royalty Pharma by 27.3% in the 4th quarter. Geode Capital Management LLC now owns 5,304,122 shares of the biopharmaceutical company stock valued at $ 211,110,000 after acquiring an additional 1,136,073 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Royalty Pharma by 71.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,702,989 shares of the biopharmaceutical company stock valued at $ 61,546,000 after acquiring an additional 709,683 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Royalty Pharma by 85.8% in the 4th quarter. Swiss National Bank now owns 1,298,510 shares of the biopharmaceutical company stock valued at $ 51,746,000 after acquiring an additional 599,500 shares in the last quarter. Institutional investors and hedge funds own 51.68% of the company stock.
A number of equities research analysts have issued reports on RPRX shares. UBS Group started coverage on shares of Royalty Pharma in a research report on Monday, June 13th. They issued a “buy” rating and a $ 47.00 target price for the company. Morgan Stanley upgraded shares of Royalty Pharma from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $ 46.00 to $ 48.00 in a research report on Wednesday, April 6th. The Goldman Sachs Group started coverage on shares of Royalty Pharma in a research report on Wednesday, April 27th. They issued a “buy” rating and a $ 56.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Royalty Pharma from a “neutral” rating to an “overweight” rating and set a $ 50.00 target price for the company in a research report on Thursday, April 14th. They noted that the move was a valuation call. Finally, StockNews.com started coverage on shares of Royalty Pharma in a report on Thursday, March 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $ 50.57.
In other news, EVP Marshall Urist sold 23,333 shares of Royalty Pharma stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $ 39.85, for a total transaction of $ 929,820.05. Following the sale, the executive vice president now directly owns 46,667 shares in the company, valued at approximately $ 1,859,679.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rory B. Riggs sold 26,304 shares of Royalty Pharma stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $ 40.09, for a total transaction of $ 1,054,527.36. Following the sale, the director now owns 575,408 shares in the company, valued at $ 23,068,106.72. The disclosure for this sale can be found here. Insiders sold a total of 422,970 shares of company stock worth $ 17,289,100 over the last 90 days. Company insiders own 25.86% of the company stock.
Shares of RPRX opened at $ 42.56 on Wednesday. The company has a market capitalization of $ 25.84 billion, a PE ratio of 42.56, a price-to-earnings-growth ratio of 1.19 and a beta of 0.36. Royalty Pharma plc has a one year low of $ 34.86 and a one year high of $ 44.75. The company has a debt-to-equity ratio of 0.70, a current ratio of 21.95 and a quick ratio of 21.95. The company fifty day moving average price is $ 40.77 and its 200 day moving average price is $ 40.02.
Royalty Pharma (NASDAQ: RPRX – Get Rating) last announced its earnings results on Thursday, May 5th. The biopharmaceutical company reported $ 0.61 EPS for the quarter, missing the consensus estimate of $ 0.72 by ($ 0.11). The firm had revenue of $ 605.00 million during the quarter, compared to the estimate consensus of $ 583.77 million. Royalty Pharma had a return on equity of 16.75% and a net margin of 26.46%. Analysts anticipate that Royalty Pharma plc will post 2.97 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, May 20th were given a $ 0.19 dividend. The ex-dividend date of this dividend was Thursday, May 19th. This represents a $ 0.76 annualized dividend and a yield of 1.79%. Royalty Pharma’s dividend payout ratio is 76.00%.
Royalty Pharma Profile: (Get Rating)
Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.
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