Rockefeller Capital Management L.P. Increases Stake in Royalty Pharma PLC $RPRX

Rockefeller Capital Management L.P. lifted its position in Royalty Pharma PLC (NASDAQ:RPRX) by 1,347.4% in the 4th quarter, Holdings Channel reports. The fund owned 87,814 shares of the biopharmaceutical company’s stock after acquiring an additional 81,747 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Royalty Pharma were worth $3,393,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Morgan Stanley increased its stake 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 valued at $2,135,790,000 after purchasing an additional 11,110,115 shares in the last quarter. Capital International Investors raised its position in shares of Royalty Pharma by 24.4% in the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock worth $960,064,000 after purchasing an additional 5,332,074 shares during the last quarter. Norges Bank bought a new position in Royalty Pharma in the 4th quarter worth about $131,923,000. Dorsey Asset Management LLC purchased a new stake in Royalty Pharma during the 3rd quarter valued at about $82,924,000. Finally, Qube Research & Technologies Ltd increased its stake in Royalty Pharma by 737.3% during 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 in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. UBS Group raised their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. upped their price objective on Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.71.

Royalty Pharma Price Performance

NASDAQ RPRX opened at $56.23 on Monday. The company has a 50-day moving average price of $52.81 and a 200-day moving average price of $46.64. Royalty Pharma PLC has a 52 week low of $34.08 and a 52 week high of $56.50. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $32.38 billion, a P/E ratio of 38.25, a PEG ratio of 1.55 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last posted 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. The company had revenue of $630.58 million for the quarter, compared to the consensus estimate of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. Equities research analysts anticipate that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Announces Dividend

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

Insider Buying and Selling at Royalty Pharma

In related news, EVP Marshall Urist sold 13,684 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $52.75, for a total value of $721,831.00. Following the transaction, the executive vice president directly owned 18,197 shares of the company’s stock, valued at approximately $959,891.75. This trade represents a 42.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the transaction, the director directly owned 191,803 shares in the company, valued at approximately $10,165,559. This represents a 1.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 323,492 shares of company stock worth $17,160,920. 18.84% of the stock is owned by insiders.

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.