Formidable Asset Management LLC Has $2.11 Million Holdings in Royalty Pharma PLC $RPRX

Formidable Asset Management LLC decreased its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 21.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,969 shares of the biopharmaceutical company’s stock after selling 11,768 shares during the quarter. Formidable Asset Management LLC’s holdings in Royalty Pharma were worth $2,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RPRX. Pictet Asset Management Holding SA lifted its position in shares of Royalty Pharma by 12.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 352,428 shares of the biopharmaceutical company’s stock worth $16,664,000 after purchasing an additional 38,918 shares during the period. Barton Investment Management acquired a new stake in shares of Royalty Pharma during the first quarter worth $905,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Royalty Pharma during the first quarter worth $244,000. Blue Trust Inc. increased its position in shares of Royalty Pharma by 173.4% during the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 437 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in Royalty Pharma during the first quarter worth $102,000. Institutional investors and hedge funds own 54.35% of the company’s stock.

Insider Activity at Royalty Pharma

In other Royalty Pharma news, Director Gregory Norden sold 3,045 shares of Royalty Pharma stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the sale, the director directly owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of Royalty Pharma stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the completion of the sale, the executive vice president directly owned 559,399 shares of the company’s stock, valued at approximately $30,431,305.60. This trade represents a 21.14% 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. Over the last three months, insiders have sold 323,492 shares of company stock valued at $17,160,920. Company insiders own 18.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RPRX. Morgan Stanley boosted their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, April 10th. JPMorgan Chase & Co. increased their price target on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Citigroup lifted their price objective on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Finally, Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Royalty Pharma presently has a consensus rating of “Buy” and an average price target of $53.71.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $56.23 on Monday. The stock has a market capitalization of $32.38 billion, a price-to-earnings ratio of 38.25, a PEG ratio of 1.55 and a beta of 0.43. Royalty Pharma PLC has a 52-week low of $34.08 and a 52-week high of $56.50. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. The stock’s 50 day moving average price is $52.81 and its two-hundred day moving average price is $46.64.

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

Royalty Pharma Announces Dividend

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

Royalty Pharma Company 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.