Eastern Bank Acquires 263,867 Shares of Royalty Pharma PLC $RPRX

Eastern Bank lifted its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 71.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 635,122 shares of the biopharmaceutical company’s stock after purchasing an additional 263,867 shares during the period. Eastern Bank owned 0.11% of Royalty Pharma worth $24,541,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its holdings in Royalty Pharma by 868.1% during the third quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 790 shares during the period. Financial Consulate Inc. purchased a new stake in Royalty Pharma in the third quarter worth about $35,000. Larson Financial Group LLC raised its stake in shares of Royalty Pharma by 31.9% in the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 306 shares during the period. Richardson Financial Services Inc. purchased a new position in shares of Royalty Pharma during the 3rd quarter valued at about $54,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Royalty Pharma by 44.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,060 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 632 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, EVP Marshall Urist sold 20,000 shares of Royalty Pharma stock in a transaction on Friday, January 16th. The shares were sold at an average price of $39.52, for a total value of $790,400.00. Following the sale, the executive vice president directly owned 40,000 shares in the company, valued at approximately $1,580,800. The trade was a 33.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Terrance P. Coyne sold 114,954 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $42.84, for a total transaction of $4,924,629.36. Following the completion of the sale, the chief financial officer owned 23,972 shares in the company, valued at approximately $1,026,960.48. The trade was a 82.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 532,287 shares of company stock worth $22,215,917 in the last three months. Insiders own 18.90% of the company’s stock.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $46.35 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a twelve month low of $29.66 and a twelve month high of $47.86. The business has a 50-day moving average price of $44.42 and a 200-day moving average price of $40.25. The firm has a market cap of $26.74 billion, a price-to-earnings ratio of 34.33 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.13. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%.The company had revenue of $621.99 million for the quarter, compared to the consensus estimate of $839.97 million. As a group, equities research analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th were given a dividend of $0.235 per share. The ex-dividend date was Friday, February 20th. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a dividend yield of 2.0%. Royalty Pharma’s dividend payout ratio (DPR) is 69.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 price target on shares of Royalty Pharma in a report on Thursday, February 12th. Leerink Partners set a $45.00 price target on shares of Royalty Pharma in a research report on Thursday, December 11th. Weiss Ratings raised shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 12th. Finally, UBS Group upgraded shares of Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Friday, January 30th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $48.67.

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.