Royalty Pharma PLC $RPRX Stock: Foster Victor Wealth Advisors LLC Boosts Stake

Foster Victor Wealth Advisors LLC increased its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 15.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,728 shares of the biopharmaceutical company’s stock after buying an additional 33,055 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Royalty Pharma were worth $14,870,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. AMG Asset Management Group Inc. bought a new position in shares of Royalty Pharma during the third quarter valued at $212,000. Crossmark Global Holdings Inc. boosted its stake in shares of Royalty Pharma by 21.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 11,902 shares of the biopharmaceutical company’s stock valued at $695,000 after purchasing an additional 2,139 shares in the last quarter. Hosking Partners LLP boosted its stake in shares of Royalty Pharma by 0.4% in the 3rd quarter. Hosking Partners LLP now owns 489,935 shares of the biopharmaceutical company’s stock valued at $28,593,000 after purchasing an additional 1,827 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Royalty Pharma by 60.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 39,174 shares of the biopharmaceutical company’s stock worth $2,286,000 after purchasing an additional 14,774 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Royalty Pharma by 28.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,168,427 shares of the biopharmaceutical company’s stock worth $68,189,000 after purchasing an additional 256,841 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Insider Buying and Selling

In other news, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the transaction, the executive vice president directly owned 270,401 shares in the company, valued at approximately $15,826,570.53. This represents a 27.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $57.10, for a total transaction of $235,594.60. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 208,252 shares of company stock worth $12,324,407 over the last quarter. 18.84% of the stock is owned by company insiders.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $62.15 on Thursday. The stock has a 50-day simple moving average of $59.62 and a 200 day simple moving average of $56.06. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 12-month low of $35.92 and a 12-month high of $64.38. The stock has a market capitalization of $35.74 billion, a price-to-earnings ratio of 42.86, a P/E/G ratio of 1.71 and a beta of 0.42.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS 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. On average, research analysts anticipate that Royalty Pharma PLC will post 5.29 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be given a dividend of $0.2350 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, November 13th. Royalty Pharma’s dividend payout ratio is presently 64.83%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RPRX. TD Cowen lifted their price target on shares of Royalty Pharma from $65.00 to $68.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. Bank of America reaffirmed a “buy” rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Morgan Stanley upped their price objective on shares of Royalty Pharma from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Weiss Ratings raised shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $61.57.

Royalty Pharma Profile

Royalty Pharma plc (NASDAQ:RPRX) is a biopharmaceutical royalty investment company that provides funding to life sciences companies, academic institutions, and other organizations in exchange for rights to future payments tied to approved or development-stage medicines. Its business model gives innovators access to capital while allowing Royalty Pharma to participate in the long-term commercial success of pharmaceutical products.

The company acquires and manages royalty interests across a broad range of therapeutic areas, including immunology, oncology, neuroscience, rare diseases, and infectious diseases.