JPMorgan Chase & Co. Has $62.08 Million Stock Holdings in Royalty Pharma PLC $RPRX

JPMorgan Chase & Co. grew its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 28.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,759,620 shares of the biopharmaceutical company’s stock after purchasing an additional 386,108 shares during the quarter. JPMorgan Chase & Co. owned about 0.30% of Royalty Pharma worth $62,079,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada increased its holdings in Royalty Pharma by 367.7% in the first quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock valued at $6,342,000 after purchasing an additional 160,191 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Royalty Pharma by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock valued at $2,490,000 after acquiring an additional 13,489 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Royalty Pharma in the 1st quarter valued at approximately $264,000. Intech Investment Management LLC raised its position in shares of Royalty Pharma by 41.0% in the 1st quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock valued at $1,494,000 after acquiring an additional 13,951 shares during the period. Finally, D.A. Davidson & CO. boosted its stake in Royalty Pharma by 4.3% during the 2nd quarter. D.A. Davidson & CO. now owns 39,247 shares of the biopharmaceutical company’s stock worth $1,414,000 after acquiring an additional 1,612 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RPRX shares. TD Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a research note on Thursday, December 11th. Morgan Stanley reissued an “overweight” rating and issued a $61.00 price target on shares of Royalty Pharma in a report on Thursday, February 12th. Citigroup lifted their target price on Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. The Goldman Sachs Group reissued a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Finally, UBS Group raised Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Friday, January 30th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $48.67.

Royalty Pharma Trading Down 0.2%

RPRX opened at $45.40 on Wednesday. The stock has a market capitalization of $26.19 billion, a P/E ratio of 33.63 and a beta of 0.42. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 12 month low of $29.66 and a 12 month high of $46.14. The firm’s fifty day simple moving average is $41.36 and its 200 day simple moving average is $38.68.

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

Royalty Pharma Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th will be given a dividend of $0.235 per share. This is an increase 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 dividend on an annualized basis and a yield of 2.1%. Royalty Pharma’s payout ratio is currently 69.63%.

Insider Transactions at Royalty Pharma

In related news, EVP Marshall Urist sold 23,334 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $39.15, for a total transaction of $913,526.10. Following the completion of the transaction, the executive vice president owned 160,000 shares in the company, valued at approximately $6,264,000. This represents a 12.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Terrance P. Coyne sold 114,954 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $42.84, for a total transaction of $4,924,629.36. Following the completion of the transaction, the chief financial officer directly owned 23,972 shares of the company’s stock, valued at approximately $1,026,960.48. This trade represents a 82.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 965,020 shares of company stock valued at $38,670,657 in the last ninety days. 18.90% of the stock is currently owned by corporate 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.