S&CO Inc. Buys Shares of 358,302 Royalty Pharma PLC $RPRX

S&CO Inc. bought a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 358,302 shares of the biopharmaceutical company’s stock, valued at approximately $20,089,000. Royalty Pharma accounts for approximately 1.2% of S&CO Inc.’s investment portfolio, making the stock its 23rd largest holding. S&CO Inc. owned 0.06% of Royalty Pharma as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Barton Investment Management acquired a new position in Royalty Pharma in the first quarter valued at approximately $905,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Royalty Pharma by 16.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock valued at $6,662,000 after purchasing an additional 24,048 shares during the last quarter. Qsemble Capital Management LP acquired a new stake in shares of Royalty Pharma during the 4th quarter worth approximately $2,875,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Royalty Pharma during the 4th quarter worth approximately $4,923,000. Finally, Thrivent Financial for Lutherans raised its position in shares of Royalty Pharma by 10.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 233,320 shares of the biopharmaceutical company’s stock worth $9,016,000 after purchasing an additional 22,015 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on RPRX shares. UBS Group boosted their price objective on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. TD Cowen increased their target price on Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Bank of America reiterated a “buy” rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Morgan Stanley restated an “overweight” rating and set a $65.00 price target on shares of Royalty Pharma in a research report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, Royalty Pharma currently has an average rating of “Buy” and a consensus price target of $60.86.

Insider Activity

In related news, EVP Christopher Hite sold 150,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 559,399 shares in the company, valued at $30,431,305.60. This represents a 21.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total transaction of $3,476,258.02. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 376,280 shares of company stock valued at $20,714,369. Company insiders own 18.84% of the company’s stock.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $58.60 on Friday. Royalty Pharma PLC has a 12-month low of $34.08 and a 12-month high of $60.44. The firm has a market capitalization of $33.74 billion, a price-to-earnings ratio of 40.41, a price-to-earnings-growth ratio of 1.37 and a beta of 0.43. The business has a 50 day simple moving average of $56.81 and a 200 day simple moving average of $51.12. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The firm had revenue of $674.14 million for the quarter, compared to analysts’ expectations of $758.93 million. On average, equities research analysts anticipate that Royalty Pharma PLC will post 5.3 EPS for the current year.

Royalty Pharma Announces Dividend

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 issued 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 of this dividend is Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is 64.83%.

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.