Royalty Pharma PLC $RPRX Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC increased its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 28.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,822 shares of the biopharmaceutical company’s stock after acquiring an additional 38,629 shares during the period. Moran Wealth Management LLC’s holdings in Royalty Pharma were worth $8,434,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Morgan Stanley raised its holdings in Royalty Pharma by 25.2% during the fourth quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after purchasing an additional 11,110,115 shares in the last quarter. Capital International Investors boosted its stake in Royalty Pharma by 14.3% during the 4th quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock valued at $1,201,870,000 after purchasing an additional 3,891,615 shares in the last quarter. State Street Corp boosted its stake in Royalty Pharma by 3.7% during the 4th quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock valued at $411,502,000 after purchasing an additional 376,888 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Royalty Pharma by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock valued at $297,465,000 after purchasing an additional 102,430 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Royalty Pharma by 9.7% during the 4th quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock valued at $197,331,000 after purchasing an additional 449,498 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Insider Buying and Selling

In related news, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma 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 SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of Royalty Pharma stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the transaction, the director directly owned 191,803 shares in the company, valued at $10,165,559. This represents a 1.56% 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 sold 427,800 shares of company stock valued at $23,333,723 over the last ninety days. 18.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RPRX has been the topic of a number of research reports. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. lifted their target price on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Citigroup boosted their price target on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, UBS Group upped their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $53.71.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $57.77 on Friday. The firm has a market cap of $33.27 billion, a price-to-earnings ratio of 39.30, a price-to-earnings-growth ratio of 1.59 and a beta of 0.43. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $57.80. The firm’s 50 day moving average price is $53.56 and its two-hundred day moving average price is $47.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The company had revenue of $630.58 million during the quarter, compared to the consensus estimate of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. On average, research analysts predict that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s payout ratio is 63.95%.

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.