OMERS ADMINISTRATION Corp Acquires 9,712 Shares of Royalty Pharma PLC $RPRX

OMERS ADMINISTRATION Corp lifted its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 14.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,307 shares of the biopharmaceutical company’s stock after buying an additional 9,712 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Royalty Pharma were worth $3,804,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of RPRX. LM Advisors LLC acquired a new stake in Royalty Pharma in the fourth quarter valued at about $26,000. Lloyd Advisory Services LLC. acquired a new position in Royalty Pharma during the fourth quarter worth about $30,000. Private Trust Co. NA raised its stake in Royalty Pharma by 52.9% during the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 288 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Royalty Pharma by 173.4% in the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 437 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Royalty Pharma by 66.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 446 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on RPRX. JPMorgan Chase & Co. lifted their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Citigroup raised their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. TD Cowen upped their price target on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, UBS Group increased their price target on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $56.57.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $58.73 on Tuesday. The business has a 50 day moving average of $55.73 and a 200-day moving average of $49.40. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $59.72. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market capitalization of $33.82 billion, a P/E ratio of 39.95, a P/E/G ratio of 10.42 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last posted 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 business had revenue of $630.58 million for the quarter, compared to the consensus estimate of $881.69 million. On average, equities research analysts predict that Royalty Pharma PLC will post 5.18 earnings per share for the current year.

Royalty Pharma Announces Dividend

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

Insider Buying and Selling at Royalty Pharma

In other news, CFO Terrance P. Coyne sold 64,399 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total value of $3,476,258.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $52.75, for a total transaction of $721,831.00. Following the transaction, the executive vice president owned 18,197 shares of the company’s stock, valued at approximately $959,891.75. The trade was a 42.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 393,009 shares of company stock worth $21,601,827 in the last three months. 18.84% of the stock is currently owned by company insiders.

Royalty Pharma 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.