Mediolanum International Funds Ltd Sells 40,296 Shares of Royalty Pharma PLC $RPRX

Mediolanum International Funds Ltd reduced its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 64.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,813 shares of the biopharmaceutical company’s stock after selling 40,296 shares during the period. Mediolanum International Funds Ltd’s holdings in Royalty Pharma were worth $1,011,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in RPRX. Phillips Wealth Planners LLC increased its holdings in Royalty Pharma by 1.9% in the 4th quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock worth $521,000 after acquiring an additional 242 shares in the last quarter. Strs Ohio boosted its position in shares of Royalty Pharma by 2.8% in the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock worth $360,000 after purchasing an additional 252 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Royalty Pharma by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock worth $1,673,000 after purchasing an additional 255 shares during the period. Cary Street Partners Financial LLC increased its stake in shares of Royalty Pharma by 1.1% in the fourth quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock worth $943,000 after purchasing an additional 260 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Royalty Pharma by 34.7% in the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 282 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RPRX shares. Citigroup lifted their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. 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 research note on Thursday, May 7th. Weiss Ratings cut Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. UBS Group boosted their price objective on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and a consensus price target of $56.57.

Royalty Pharma Trading Up 2.0%

Royalty Pharma stock opened at $58.42 on Wednesday. The stock has a market cap of $33.64 billion, a P/E ratio of 39.74, a PEG ratio of 10.15 and a beta of 0.43. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $59.44. The firm’s 50 day moving average price is $55.26 and its 200-day moving average price is $48.86.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, topping 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 firm had revenue of $630.58 million for the quarter, compared to the consensus estimate of $881.69 million. On average, equities analysts predict that Royalty Pharma PLC will post 5.18 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a $0.235 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.94 annualized dividend and a yield of 1.6%. Royalty Pharma’s payout ratio is presently 63.95%.

Insider Activity at Royalty Pharma

In other news, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $56.52, for a total value of $5,652,000.00. Following the sale, the executive vice president directly owned 459,399 shares of the company’s stock, valued at approximately $25,965,231.48. The trade was a 17.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value of $508,452.12. 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 have sold 427,800 shares of company stock worth $23,333,723 in the last quarter. 18.84% of the stock is owned by company 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.