Patient Capital Management LLC Boosts Stake in Royalty Pharma PLC $RPRX

Patient Capital Management LLC boosted its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,117,850 shares of the biopharmaceutical company’s stock after purchasing an additional 129,862 shares during the period. Royalty Pharma comprises 4.4% of Patient Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Patient Capital Management LLC owned about 0.53% of Royalty Pharma worth $109,998,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in RPRX. Norges Bank bought a new position in shares of Royalty Pharma during the 2nd quarter worth approximately $181,388,000. Arrowstreet Capital Limited Partnership raised its stake in Royalty Pharma by 118.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,976,480 shares of the biopharmaceutical company’s stock worth $107,243,000 after acquiring an additional 1,615,706 shares in the last quarter. Amundi lifted its holdings in shares of Royalty Pharma by 126.1% during the second quarter. Amundi now owns 2,797,471 shares of the biopharmaceutical company’s stock valued at $101,240,000 after acquiring an additional 1,560,093 shares during the period. Jupiter Asset Management Ltd. boosted its stake in shares of Royalty Pharma by 126.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,470,706 shares of the biopharmaceutical company’s stock valued at $89,020,000 after purchasing an additional 1,380,115 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Royalty Pharma by 7.1% in the 2nd quarter. State Street Corp now owns 10,194,938 shares of the biopharmaceutical company’s stock valued at $367,324,000 after purchasing an additional 678,810 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Stock Down 1.2%

NASDAQ:RPRX opened at $39.09 on Wednesday. The company has a market cap of $22.56 billion, a price-to-earnings ratio of 29.61, a P/E/G ratio of 1.51 and a beta of 0.43. 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 stock’s fifty day moving average price is $39.31 and its two-hundred day moving average price is $37.48. Royalty Pharma PLC has a 52-week low of $29.66 and a 52-week high of $41.70.

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

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, February 20th. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s dividend payout ratio is currently 66.67%.

Insider Activity

In related news, CFO Terrance P. Coyne sold 69,594 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $39.30, for a total transaction of $2,735,044.20. Following the completion of the sale, the chief financial officer directly owned 54,760 shares of the company’s stock, valued at $2,152,068. The trade was a 55.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP George W. Lloyd sold 132,426 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $38.34, for a total transaction of $5,077,212.84. The SEC filing for this sale provides additional information. Insiders sold a total of 956,093 shares of company stock worth $37,290,345 in the last ninety days. Insiders own 18.90% of the company’s stock.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of recent analyst reports. Cowen reiterated a “buy” rating on shares of Royalty Pharma in a research report on Thursday, December 11th. TD Cowen upped their price objective on shares of Royalty Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Weiss Ratings cut shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Leerink Partners set a $45.00 target price on Royalty Pharma in a report on Thursday, December 11th. Finally, Morgan Stanley dropped their price target on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Royalty Pharma has a consensus rating of “Moderate Buy” and a consensus target price of $45.60.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.