CenterBook Partners LP Increases Stock Position in Royalty Pharma PLC $RPRX

CenterBook Partners LP lifted its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 152.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,022 shares of the biopharmaceutical company’s stock after acquiring an additional 96,015 shares during the quarter. CenterBook Partners LP’s holdings in Royalty Pharma were worth $5,730,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Augustine Asset Management Inc. lifted its stake in shares of Royalty Pharma by 4.4% in the 2nd quarter. Augustine Asset Management Inc. now owns 6,722 shares of the biopharmaceutical company’s stock worth $242,000 after purchasing an additional 283 shares during the period. Keybank National Association OH raised its holdings in Royalty Pharma by 1.0% in the 2nd quarter. Keybank National Association OH now owns 33,139 shares of the biopharmaceutical company’s stock worth $1,194,000 after purchasing an additional 321 shares during the period. Applied Finance Capital Management LLC lifted its position in Royalty Pharma by 3.0% during the first quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company’s stock valued at $351,000 after purchasing an additional 329 shares in the last quarter. Fifth Third Bancorp grew its holdings in Royalty Pharma by 19.2% during the second quarter. Fifth Third Bancorp now owns 2,137 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 344 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Royalty Pharma by 42.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 402 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Trading Up 1.4%

Royalty Pharma stock opened at $38.92 on Friday. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $41.24. The firm’s 50 day moving average price is $37.04 and its 200-day moving average price is $35.89. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.48 and a quick ratio of 3.48. The stock has a market cap of $22.47 billion, a P/E ratio of 29.48, a PEG ratio of 2.02 and a beta of 0.56.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.06. The company had revenue of $609.29 million during the quarter, compared to analysts’ expectations of $765.01 million. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. On average, equities analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, November 14th. Royalty Pharma’s dividend payout ratio is currently 66.67%.

Insiders Place Their Bets

In related news, CFO Terrance P. Coyne sold 69,594 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $39.30, for a total value of $2,735,044.20. Following the completion of the transaction, the chief financial officer owned 54,760 shares of the company’s stock, valued at approximately $2,152,068. This trade represents a 55.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP George W. Lloyd sold 132,426 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $38.34, for a total value of $5,077,212.84. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 274,614 shares of company stock valued at $10,662,321. 18.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RPRX. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Morgan Stanley reduced their price objective on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. The Goldman Sachs Group initiated coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, TD Cowen cut shares of Royalty Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Royalty Pharma has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Royalty Pharma Profile

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.