Royalty Pharma PLC $RPRX Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 4.2% during the third quarter, Holdings Channel reports. The institutional investor owned 215,483 shares of the biopharmaceutical company’s stock after buying an additional 8,718 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Royalty Pharma were worth $12,576,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RPRX. Bank of America Corp DE lifted its holdings in Royalty Pharma by 29.0% during the 1st quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock worth $167,696,000 after buying an additional 786,921 shares during the last quarter. Amundi increased its holdings in shares of Royalty Pharma by 15.3% in the 1st quarter. Amundi now owns 3,088,773 shares of the biopharmaceutical company’s stock valued at $148,168,000 after acquiring an additional 409,394 shares during the last quarter. Dorsey Asset Management LLC increased its holdings in shares of Royalty Pharma by 0.8% in the 1st quarter. Dorsey Asset Management LLC now owns 2,276,570 shares of the biopharmaceutical company’s stock valued at $109,207,000 after acquiring an additional 17,101 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Royalty Pharma by 2,562.2% during the 1st quarter. Hsbc Holdings PLC now owns 1,544,018 shares of the biopharmaceutical company’s stock worth $74,000,000 after acquiring an additional 1,486,020 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Royalty Pharma by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,273,705 shares of the biopharmaceutical company’s stock worth $61,100,000 after acquiring an additional 5,661 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $62.25 on Wednesday. The company has a fifty day moving average of $59.56 and a two-hundred day moving average of $55.96. The company has a market capitalization of $35.79 billion, a PE ratio of 42.93, a P/E/G ratio of 1.65 and a beta of 0.42. Royalty Pharma PLC has a 1 year low of $35.92 and a 1 year high of $64.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%. The business had revenue of $674.14 million for the quarter, compared to analysts’ expectations of $758.93 million. As a group, analysts expect that Royalty Pharma PLC will post 5.29 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be given a $0.2350 dividend. This represents a $0.94 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, November 13th. Royalty Pharma’s payout ratio is 64.83%.

Analyst Ratings Changes

Several research firms recently weighed in on RPRX. Weiss Ratings upgraded Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 14th. Bank of America reiterated a “buy” rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. TD Cowen increased their price target on shares of Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Tuesday, September 8th. JPMorgan Chase & Co. raised their price objective on shares of Royalty Pharma from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Finally, Morgan Stanley boosted their price objective on shares of Royalty Pharma from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Eight equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Royalty Pharma presently has an average rating of “Buy” and an average price target of $61.57.

Insider Activity

In other news, EVP Marshall Urist sold 4,126 shares of Royalty Pharma stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $57.10, for a total value of $235,594.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the transaction, the executive vice president owned 270,401 shares in the company, valued at approximately $15,826,570.53. This trade represents a 27.00% decrease in their ownership of the stock. 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. Insiders sold a total of 208,252 shares of company stock worth $12,324,407 in the last 90 days. 18.84% of the stock is currently owned by insiders.

Royalty Pharma Profile

Royalty Pharma plc (NASDAQ:RPRX) is a biopharmaceutical royalty investment company that provides funding to life sciences companies, academic institutions, and other organizations in exchange for rights to future payments tied to approved or development-stage medicines. Its business model gives innovators access to capital while allowing Royalty Pharma to participate in the long-term commercial success of pharmaceutical products.

The company acquires and manages royalty interests across a broad range of therapeutic areas, including immunology, oncology, neuroscience, rare diseases, and infectious diseases.