Prudential PLC Has $4.68 Million Stake in Royalty Pharma PLC $RPRX

Prudential PLC lifted its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 8.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 129,838 shares of the biopharmaceutical company’s stock after purchasing an additional 10,395 shares during the quarter. Prudential PLC’s holdings in Royalty Pharma were worth $4,678,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. USA Financial Formulas bought a new stake in Royalty Pharma during the 2nd quarter worth approximately $32,000. Summit Securities Group LLC acquired a new position in shares of Royalty Pharma in the first quarter valued at approximately $36,000. WPG Advisers LLC acquired a new position in shares of Royalty Pharma in the first quarter valued at approximately $39,000. MassMutual Private Wealth & Trust FSB increased its position in shares of 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 worth $49,000 after acquiring an additional 402 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Royalty Pharma by 113.8% during the second quarter. Farther Finance Advisors LLC now owns 1,428 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 760 shares during the period. Institutional investors own 54.35% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Terrance P. Coyne sold 69,594 shares of Royalty Pharma 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 $2,152,068. This trade represents a 55.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP George W. Lloyd sold 132,426 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $38.34, for a total transaction of $5,077,212.84. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 274,614 shares of company stock valued at $10,662,321. Corporate insiders own 18.90% of the company’s stock.

Analyst Ratings Changes

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

Royalty Pharma Stock Performance

RPRX opened at $38.92 on Friday. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $41.24. The firm has a market capitalization of $22.47 billion, a PE ratio of 29.48, a PEG ratio of 2.02 and a beta of 0.56. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. The business’s 50-day simple moving average is $37.04 and its 200 day simple moving average is $35.89.

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

Royalty Pharma Announces Dividend

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

About Royalty Pharma

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.