Great Lakes Advisors LLC Invests $882,000 in Royalty Pharma PLC $RPRX

Great Lakes Advisors LLC purchased a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 15,726 shares of the biopharmaceutical company’s stock, valued at approximately $882,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. LM Advisors LLC bought a new position in Royalty Pharma in the 4th quarter valued at $26,000. Lloyd Advisory Services LLC. bought a new stake in shares of Royalty Pharma during the fourth quarter worth $30,000. Blue Trust Inc. grew its holdings in shares of Royalty Pharma by 173.4% during the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 437 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Royalty Pharma by 66.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 446 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Royalty Pharma by 31.9% in the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 306 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $61.31 on Friday. The business’s 50-day simple moving average is $57.36 and its 200 day simple moving average is $51.81. The stock has a market cap of $35.25 billion, a price-to-earnings ratio of 42.28, a P/E/G ratio of 1.43 and a beta of 0.43. Royalty Pharma PLC has a 12-month low of $34.08 and a 12-month high of $62.13. 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 (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $758.93 million. As a group, research analysts anticipate that Royalty Pharma PLC will post 5.3 earnings per share for the current 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. The ex-dividend date is Friday, August 14th. This represents a $0.94 annualized dividend and a dividend yield of 1.5%. Royalty Pharma’s payout ratio is currently 64.83%.

Analysts Set New Price Targets

A number of research firms recently issued reports on RPRX. JPMorgan Chase & Co. lifted their price target on Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Bank of America reissued a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Royalty Pharma in a research report on Wednesday, August 12th. Citigroup boosted their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, TD Cowen upped their target price on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $60.86.

Insider Transactions at Royalty Pharma

In related news, CFO Terrance P. Coyne sold 64,399 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $59.97, for a total transaction of $5,997,000.00. Following the completion of the transaction, the executive vice president directly owned 370,401 shares in the company, valued at approximately $22,212,947.97. The trade was a 21.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 462,596 shares of company stock worth $25,989,538 in the last quarter. 18.84% of the stock is owned by company insiders.

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.