Creative Planning Buys 9,718 Shares of Royalty Pharma PLC $RPRX

Creative Planning raised its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 22.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,553 shares of the biopharmaceutical company’s stock after acquiring an additional 9,718 shares during the period. Creative Planning’s holdings in Royalty Pharma were worth $1,893,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Jupiter Asset Management Ltd. increased its position in shares of Royalty Pharma by 126.5% in the second quarter. Jupiter Asset Management Ltd. now owns 2,470,706 shares of the biopharmaceutical company’s stock worth $89,020,000 after purchasing an additional 1,380,115 shares during the period. Nuveen LLC bought a new stake in Royalty Pharma during the first quarter worth about $27,749,000. AQR Capital Management LLC grew its stake in Royalty Pharma by 37.0% during the first quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company’s stock worth $80,381,000 after buying an additional 704,414 shares in the last quarter. Nordea Investment Management AB increased its holdings in Royalty Pharma by 603.9% in the 2nd quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock valued at $23,701,000 after buying an additional 562,799 shares during the period. Finally, Invesco Ltd. increased its holdings in Royalty Pharma by 34.1% in the 1st quarter. Invesco Ltd. now owns 1,284,418 shares of the biopharmaceutical company’s stock valued at $39,984,000 after buying an additional 326,525 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Trading Up 0.8%

RPRX opened at $39.84 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.48 and a quick ratio of 3.48. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $41.24. The company’s 50 day moving average price is $37.30 and its two-hundred day moving average price is $36.05. The firm has a market capitalization of $23.00 billion, a price-to-earnings ratio of 30.18, a PEG ratio of 2.08 and a beta of 0.56.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. The company had revenue of $609.29 million for the quarter, compared to analyst estimates of $765.01 million. As a group, research analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, November 14th. Royalty Pharma’s payout ratio is 66.67%.

Insider Activity

In other news, EVP George W. Lloyd sold 132,426 shares of the stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $38.34, for a total value of $5,077,212.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Terrance P. Coyne sold 69,582 shares of Royalty Pharma stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $38.55, for a total value of $2,682,386.10. Following the completion of the transaction, the chief financial officer directly owned 51,010 shares in the company, valued at approximately $1,966,435.50. This represents a 57.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 344,196 shares of company stock valued at $13,344,707. Insiders own 18.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RPRX. The Goldman Sachs Group started coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They set a “buy” rating and a $42.00 price target for the company. Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Morgan Stanley decreased their price target on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Weiss Ratings downgraded Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, TD Cowen lowered Royalty Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.00.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.