Monetta Financial Services Inc. Invests $1.68 Million in Royalty Pharma PLC $RPRX

Monetta Financial Services Inc. acquired a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 30,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,682,000. Royalty Pharma comprises 1.1% of Monetta Financial Services Inc.’s investment portfolio, making the stock its 25th largest holding.

A number of other institutional investors have also recently made changes to their positions in the business. LM Advisors LLC purchased a new position in Royalty Pharma during the 4th quarter worth $26,000. Lloyd Advisory Services LLC. purchased a new stake in Royalty Pharma in the fourth quarter valued at about $30,000. Private Trust Co. NA raised its stake in Royalty Pharma by 52.9% in the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 288 shares during the last quarter. Blue Trust Inc. boosted its holdings in 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 in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in 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 in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX opened at $61.73 on Thursday. The company has a 50 day simple moving average of $57.13 and a two-hundred day simple moving average of $51.61. The stock has a market cap of $35.49 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 1.39 and a beta of 0.43. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 12 month low of $34.08 and a 12 month high of $61.80.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The firm had revenue of $674.14 million for the quarter, compared to analyst estimates of $758.93 million. As a group, analysts predict that Royalty Pharma PLC will post 5.3 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is currently 64.83%.

Insiders Place Their Bets

In other Royalty Pharma 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 transaction of $3,476,258.02. The transaction was disclosed in a document filed 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 9,099 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total value of $508,452.12. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 462,596 shares of company stock valued at $25,989,538. Company insiders own 18.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America restated a “buy” rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $66.00 target price on shares of Royalty Pharma in a research note on Thursday, August 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Royalty Pharma in a research report on Wednesday, August 12th. Citigroup upped their price target on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Royalty Pharma in a report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma has a consensus rating of “Buy” and a consensus target price of $60.86.

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.