Maridea Wealth Management LLC Makes New Investment in Royalty Pharma PLC $RPRX

Maridea Wealth Management LLC acquired a new position in Royalty Pharma PLC (NASDAQ:RPRX) during the third quarter, according to its most recent filing with the SEC. The firm acquired 16,492 shares of the biopharmaceutical company’s stock, valued at approximately $604,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in Royalty Pharma by 868.1% in the third quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 790 shares in the last quarter. Financial Consulate Inc. bought a new position in Royalty Pharma in the 3rd quarter worth $35,000. Richardson Financial Services Inc. purchased a new stake in shares of Royalty Pharma in the 3rd quarter worth about $54,000. Farther Finance Advisors LLC boosted its stake in shares of Royalty Pharma by 44.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,060 shares of the biopharmaceutical company’s stock valued at $73,000 after purchasing an additional 632 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Royalty Pharma by 16.9% during the 3rd quarter. Fifth Third Bancorp now owns 2,499 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 362 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Down 0.2%

RPRX stock opened at $45.34 on Thursday. The business has a 50 day moving average of $40.82 and a 200 day moving average of $38.45. The firm has a market cap of $26.17 billion, a PE ratio of 33.59 and a beta of 0.42. Royalty Pharma PLC has a twelve month low of $29.66 and a twelve month high of $46.14. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.88.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%.The firm had revenue of $621.99 million for the quarter, compared to analysts’ expectations of $839.97 million. On average, research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 20th will be given a dividend of $0.235 per share. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.94 annualized dividend and a yield of 2.1%. Royalty Pharma’s payout ratio is currently 65.19%.

Insider Transactions at Royalty Pharma

In related news, CFO Terrance P. Coyne sold 20,163 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $43.29, for a total value of $872,856.27. Following the completion of the transaction, the chief financial officer directly owned 22,885 shares in the company, valued at $990,691.65. The trade was a 46.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marshall Urist sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $41.09, for a total value of $821,800.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,034,602 shares of company stock valued at $41,353,043. 18.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RPRX has been the subject of several research analyst reports. UBS Group upgraded shares of Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Friday, January 30th. TD Cowen restated a “buy” rating on shares of Royalty Pharma in a research note on Thursday, December 11th. Citigroup upped their price target on Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, Royalty Pharma presently has a consensus rating of “Buy” and an average price target of $48.67.

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.