Dorsey Asset Management LLC Has $109.21 Million Stock Position in Royalty Pharma PLC $RPRX

Dorsey Asset Management LLC raised its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,276,570 shares of the biopharmaceutical company’s stock after purchasing an additional 17,101 shares during the period. Royalty Pharma accounts for about 8.7% of Dorsey Asset Management LLC’s holdings, making the stock its 6th biggest position. Dorsey Asset Management LLC’s holdings in Royalty Pharma were worth $109,207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Phillips Wealth Planners LLC boosted its holdings in Royalty Pharma by 1.9% in the 4th quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock worth $521,000 after buying an additional 242 shares during the period. Strs Ohio raised its holdings in Royalty Pharma by 2.8% during the 4th quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock valued at $360,000 after acquiring an additional 252 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Royalty Pharma by 0.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock worth $1,673,000 after acquiring an additional 255 shares in the last quarter. Cary Street Partners Financial LLC lifted its position in shares of Royalty Pharma by 1.1% during the fourth quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock worth $943,000 after acquiring an additional 260 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of Royalty Pharma by 34.7% in the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 282 shares during the period. Institutional investors own 54.35% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Christopher Hite sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total value of $8,160,000.00. Following the transaction, the executive vice president directly owned 559,399 shares in the company, valued at approximately $30,431,305.60. This represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total transaction of $3,476,258.02. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 427,800 shares of company stock worth $23,333,723 over the last three months. Company insiders own 18.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RPRX. UBS Group lifted their price target on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised their target price on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Citigroup lifted their target price on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Morgan Stanley increased their price target on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Finally, TD Cowen raised their price objective on shares of Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $56.57.

Royalty Pharma Trading Down 0.3%

Shares of RPRX stock opened at $58.83 on Friday. The company has a market capitalization of $33.88 billion, a PE ratio of 40.02, a price-to-earnings-growth ratio of 10.42 and a beta of 0.43. Royalty Pharma PLC has a 52-week low of $34.08 and a 52-week high of $59.72. The business’s fifty day moving average is $55.60 and its 200 day moving average is $49.21. 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 posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.22 by $0.08. The business had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. On average, equities research analysts anticipate that Royalty Pharma PLC will post 5.18 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is 63.95%.

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.