Royalty Pharma PLC $RPRX Shares Purchased by Formidable Asset Management LLC

Formidable Asset Management LLC lifted its position in Royalty Pharma PLC (NASDAQ:RPRX) by 54.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,737 shares of the biopharmaceutical company’s stock after purchasing an additional 19,540 shares during the quarter. Formidable Asset Management LLC’s holdings in Royalty Pharma were worth $2,072,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in Royalty Pharma by 8.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 26,774 shares of the biopharmaceutical company’s stock worth $1,048,000 after purchasing an additional 2,088 shares during the period. J. Safra Sarasin Holding AG purchased a new stake in shares of Royalty Pharma in the 4th quarter valued at approximately $3,479,000. Eastern Bank grew its stake in shares of Royalty Pharma by 71.1% in the 4th quarter. Eastern Bank now owns 635,122 shares of the biopharmaceutical company’s stock valued at $24,541,000 after buying an additional 263,867 shares during the period. Pallas Capital Advisors LLC increased its holdings in shares of Royalty Pharma by 6.3% during the 4th quarter. Pallas Capital Advisors LLC now owns 111,126 shares of the biopharmaceutical company’s stock worth $4,294,000 after buying an additional 6,544 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Royalty Pharma by 438.0% during the 4th quarter. SG Americas Securities LLC now owns 288,202 shares of the biopharmaceutical company’s stock worth $11,136,000 after buying an additional 234,629 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

Shares of RPRX opened at $48.57 on Friday. The firm has a 50-day simple moving average of $45.07 and a two-hundred day simple moving average of $40.54. The stock has a market cap of $28.02 billion, a PE ratio of 35.98 and a beta of 0.39. Royalty Pharma PLC has a 1-year low of $29.66 and a 1-year high of $49.06. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.40 and a quick ratio of 2.40.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.33 by $0.13. The firm had revenue of $621.99 million for the quarter, compared to analyst estimates of $839.97 million. Royalty Pharma had a net margin of 32.38% and a return on equity of 28.21%. As a group, analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th were paid a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.9%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, February 20th. Royalty Pharma’s payout ratio is currently 69.63%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RPRX. The Goldman Sachs Group reiterated a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. Morgan Stanley restated an “overweight” rating and issued a $61.00 target price on shares of Royalty Pharma in a research report on Thursday, February 12th. UBS Group raised Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Friday, January 30th. Finally, Leerink Partners set a $45.00 price target on Royalty Pharma in a report on Thursday, December 11th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma has a consensus rating of “Buy” and a consensus price target of $48.67.

Insider Buying and Selling at Royalty Pharma

In related news, EVP Marshall Urist sold 20,000 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $39.52, for a total value of $790,400.00. Following the sale, the executive vice president owned 40,000 shares in the company, valued at approximately $1,580,800. The trade was a 33.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Terrance P. Coyne sold 114,954 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $42.84, for a total value of $4,924,629.36. Following the transaction, the chief financial officer directly owned 23,972 shares in the company, valued at approximately $1,026,960.48. The trade was a 82.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 497,496 shares of company stock valued at $21,224,025. Company insiders own 18.90% of the company’s stock.

Royalty Pharma Profile

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.