Capital International Investors Buys 5,332,074 Shares of Royalty Pharma PLC $RPRX

Capital International Investors increased its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 24.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,212,694 shares of the biopharmaceutical company’s stock after buying an additional 5,332,074 shares during the period. Capital International Investors’ holdings in Royalty Pharma were worth $960,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RPRX. Swedbank AB raised its stake in Royalty Pharma by 0.4% during the third quarter. Swedbank AB now owns 12,200,270 shares of the biopharmaceutical company’s stock valued at $430,426,000 after buying an additional 42,800 shares during the last quarter. State Street Corp grew its stake in shares of Royalty Pharma by 7.1% in the second quarter. State Street Corp now owns 10,194,938 shares of the biopharmaceutical company’s stock worth $367,324,000 after acquiring an additional 678,810 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Royalty Pharma by 2.2% during the second quarter. Geode Capital Management LLC now owns 8,176,504 shares of the biopharmaceutical company’s stock valued at $299,494,000 after acquiring an additional 177,036 shares in the last quarter. Norges Bank purchased a new position in shares of Royalty Pharma in the 2nd quarter worth about $181,388,000. Finally, Victory Capital Management Inc. raised its position in shares of 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 last quarter. Institutional investors own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Morgan Stanley reissued an “overweight” rating and set a $61.00 price objective on shares of Royalty Pharma in a research report on Thursday, February 12th. UBS Group raised shares of Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a report on Friday, January 30th. Wall Street Zen cut shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. The Goldman Sachs Group reissued a “buy” rating on shares of Royalty Pharma in a research report on Thursday, February 12th. Finally, Citigroup boosted their price objective on shares of Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $48.67.

Royalty Pharma Price Performance

NASDAQ RPRX opened at $45.97 on Wednesday. Royalty Pharma PLC has a one year low of $29.66 and a one year high of $47.86. The stock has a 50-day moving average of $42.81 and a 200 day moving average of $39.37. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.40 and a current ratio of 2.40. The company has a market capitalization of $26.52 billion, a price-to-earnings ratio of 34.05 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last posted 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. The business had revenue of $621.99 million for the quarter, compared to analysts’ expectations of $839.97 million. Royalty Pharma had a net margin of 32.38% and a return on equity of 28.21%. On average, sell-side analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current 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 issued a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, February 20th. This is a positive change 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 is presently 69.63%.

Insider Activity at Royalty Pharma

In other Royalty Pharma news, CFO Terrance P. Coyne sold 114,954 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $42.84, for a total value of $4,924,629.36. Following the completion of the sale, the chief financial officer owned 23,972 shares of the company’s stock, valued at approximately $1,026,960.48. The trade was a 82.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marshall Urist sold 20,000 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $40.26, for a total transaction of $805,200.00. Following the sale, the executive vice president owned 20,000 shares of the company’s stock, valued at approximately $805,200. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 737,078 shares of company stock worth $29,862,002 over the last quarter. Company insiders own 18.90% of the company’s stock.

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.