Asset Management One Co. Ltd. Sells 17,023 Shares of Royalty Pharma PLC $RPRX

Asset Management One Co. Ltd. decreased its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 8.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 190,909 shares of the biopharmaceutical company’s stock after selling 17,023 shares during the period. Asset Management One Co. Ltd.’s holdings in Royalty Pharma were worth $7,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital International Investors increased 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 valued at $960,064,000 after buying an additional 5,332,074 shares in the last quarter. Swedbank AB boosted its stake in Royalty Pharma by 0.4% in the 3rd quarter. Swedbank AB now owns 12,200,270 shares of the biopharmaceutical company’s stock worth $430,426,000 after purchasing an additional 42,800 shares during the period. State Street Corp boosted its stake in Royalty Pharma by 0.8% in the 3rd quarter. State Street Corp now owns 10,272,753 shares of the biopharmaceutical company’s stock worth $362,423,000 after purchasing an additional 77,815 shares during the period. Victory Capital Management Inc. boosted its stake in Royalty Pharma by 3.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,657,407 shares of the biopharmaceutical company’s stock worth $164,313,000 after purchasing an additional 165,727 shares during the period. Finally, Northern Trust Corp boosted its stake in Royalty Pharma by 1.3% in the 3rd quarter. Northern Trust Corp now owns 4,075,239 shares of the biopharmaceutical company’s stock worth $143,774,000 after purchasing an additional 53,389 shares during the period. Institutional investors own 54.35% of the company’s stock.

Insider Activity at Royalty Pharma

In related news, CFO Terrance P. Coyne sold 34,791 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $48.33, for a total transaction of $1,681,449.03. Following the sale, the chief financial officer owned 32,916 shares in the company, valued at approximately $1,590,830.28. This trade represents a 51.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 20,000 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $41.09, for a total transaction of $821,800.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 387,914 shares of company stock worth $16,879,974 in the last quarter. 18.84% of the stock is currently owned by company insiders.

Royalty Pharma Stock Up 0.4%

Shares of RPRX opened at $49.48 on Wednesday. Royalty Pharma PLC has a 12 month low of $31.58 and a 12 month high of $50.08. The firm’s 50 day moving average is $46.66 and its 200-day moving average is $41.78. The stock has a market capitalization of $28.54 billion, a PE ratio of 36.65, a P/E/G ratio of 3.15 and a beta of 0.39. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.88.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.13. The business had revenue of $621.99 million for the quarter, compared to analyst estimates of $839.97 million. Royalty Pharma had a net margin of 32.38% and a return on equity of 28.21%. Equities research analysts forecast that Royalty Pharma PLC will post 5.08 EPS for the current year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $0.235 per share. The ex-dividend date is Friday, May 15th. This represents a $0.94 annualized dividend and a dividend yield of 1.9%. Royalty Pharma’s dividend payout ratio (DPR) is currently 69.63%.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of research analyst reports. Morgan Stanley upped their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Citigroup upped their target price on shares of Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Wall Street Zen lowered shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Royalty Pharma presently has an average rating of “Buy” and a consensus target price of $50.33.

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.