Royalty Pharma PLC $RPRX is Torray Investment Partners LLC’s Largest Position

Torray Investment Partners LLC trimmed its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 13.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 645,425 shares of the biopharmaceutical company’s stock after selling 98,930 shares during the period. Royalty Pharma makes up 4.5% of Torray Investment Partners LLC’s investment portfolio, making the stock its largest holding. Torray Investment Partners LLC owned about 0.11% of Royalty Pharma worth $30,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Morgan Stanley grew its holdings in shares of Royalty Pharma by 25.2% during the fourth 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 increased its position in shares of Royalty Pharma by 14.3% during the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock worth $1,201,870,000 after purchasing an additional 3,891,615 shares in the last quarter. Norges Bank purchased a new stake in shares of Royalty Pharma in the 4th quarter valued at about $131,923,000. Dorsey Asset Management LLC purchased a new stake in shares of Royalty Pharma in the 3rd quarter valued at about $82,924,000. Finally, Qube Research & Technologies Ltd boosted its position in shares of Royalty Pharma by 737.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock valued at $87,557,000 after purchasing an additional 2,185,366 shares during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX traded down $1.53 during midday trading on Friday, reaching $56.43. 2,518,723 shares of the company were exchanged, compared to its average volume of 3,280,736. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $58.84. The stock has a fifty day simple moving average of $54.35 and a 200 day simple moving average of $47.90. The stock has a market cap of $32.49 billion, a P/E ratio of 38.39, a PEG ratio of 1.59 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The firm had revenue of $630.58 million for the quarter, compared to analysts’ expectations of $881.69 million. On average, research analysts forecast that Royalty Pharma PLC will post 5.06 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.94 annualized dividend and a dividend yield of 1.7%. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $56.52, for a total value of $5,652,000.00. Following the transaction, the executive vice president directly owned 459,399 shares in the company, valued at $25,965,231.48. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 shares were sold at an average price of $53.98, for a total transaction of $3,476,258.02. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 427,800 shares of company stock valued at $23,333,723 in the last ninety days. Company insiders own 18.84% of the company’s stock.

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.