R Squared Ltd Purchases Shares of 15,351 Royalty Pharma PLC $RPRX

R Squared Ltd bought a new stake in Royalty Pharma PLC (NASDAQ:RPRX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,351 shares of the biopharmaceutical company’s stock, valued at approximately $736,000.

Several other institutional investors and hedge funds have also bought and sold shares of RPRX. Morgan Stanley increased its position in shares of Royalty Pharma by 25.2% during the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after purchasing an additional 11,110,115 shares during the last quarter. Capital International Investors grew its stake in shares of Royalty Pharma by 14.3% in the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock valued at $1,201,870,000 after buying an additional 3,891,615 shares in the last quarter. State Street Corp increased its holdings in Royalty Pharma by 3.7% during the fourth quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock worth $411,502,000 after buying an additional 376,888 shares during the last quarter. Geode Capital Management LLC increased its holdings in Royalty Pharma by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock worth $297,465,000 after buying an additional 102,430 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Royalty Pharma by 9.7% in the fourth quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock valued at $197,331,000 after acquiring an additional 449,498 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

Shares of RPRX traded up $0.89 during trading hours on Tuesday, hitting $57.81. 661,987 shares of the company were exchanged, compared to its average volume of 3,676,533. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $58.18. The company has a market cap of $33.29 billion, a price-to-earnings ratio of 39.31, a P/E/G ratio of 1.59 and a beta of 0.43. The firm’s fifty day moving average is $53.70 and its 200 day moving average is $47.43.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The firm had revenue of $630.58 million for the quarter, compared to the consensus estimate of $881.69 million. On average, equities analysts anticipate that Royalty Pharma PLC will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a $0.235 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, May 15th. Royalty Pharma’s dividend payout ratio (DPR) is presently 63.95%.

Insider Activity at Royalty Pharma

In other Royalty Pharma news, EVP Marshall Urist sold 9,099 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total value of $508,452.12. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total transaction of $3,476,258.02. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 427,800 shares of company stock valued at $23,333,723. 18.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RPRX shares. JPMorgan Chase & Co. upped their target price on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Citigroup raised their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings cut shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Finally, UBS Group raised their price objective on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Royalty Pharma currently has an average rating of “Buy” and a consensus target price of $53.71.

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.