USS Investment Management Ltd Increases Stake in Royalty Pharma PLC $RPRX

USS Investment Management Ltd increased its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 21.2% during the 1st quarter, Holdings Channel reports. The fund owned 122,359 shares of the biopharmaceutical company’s stock after purchasing an additional 21,417 shares during the quarter. USS Investment Management Ltd’s holdings in Royalty Pharma were worth $5,870,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in RPRX. Royal Bank of Canada raised its holdings in shares of Royalty Pharma by 367.7% in the 1st 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Royalty Pharma by 20.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock worth $2,490,000 after buying an additional 13,489 shares during the last quarter. Focus Partners Wealth purchased a new stake in Royalty Pharma during the 1st quarter worth about $264,000. Intech Investment Management LLC boosted its position in shares of Royalty Pharma by 41.0% during the 1st quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock worth $1,494,000 after acquiring an additional 13,951 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Royalty Pharma by 21.4% during the 2nd quarter. Invesco Ltd. now owns 1,559,378 shares of the biopharmaceutical company’s stock worth $56,184,000 after acquiring an additional 274,960 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Insider Transactions at Royalty Pharma

In other news, EVP Marshall Urist sold 9,099 shares of Royalty Pharma stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $55.88, for a total value of $508,452.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $56.52, for a total transaction of $5,652,000.00. Following the completion of the sale, the executive vice president owned 459,399 shares of the company’s stock, valued at approximately $25,965,231.48. This trade represents a 17.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 427,800 shares of company stock worth $23,333,723 in the last three months. Corporate insiders own 18.84% of the company’s stock.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $57.77 on Friday. The stock’s 50-day moving average is $53.40 and its two-hundred day moving average is $47.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $57.80. The firm has a market cap of $33.27 billion, a price-to-earnings ratio of 39.30, a PEG ratio of 1.53 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.08. The business had revenue of $630.58 million during the quarter, compared to the consensus estimate of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. Analysts predict that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a $0.235 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a yield of 1.6%. Royalty Pharma’s payout ratio is currently 63.95%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their target price on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. UBS Group upped their price target on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Weiss Ratings cut shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Finally, Citigroup boosted their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma presently has a consensus rating of “Buy” and a consensus target price of $53.71.

About Royalty Pharma

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.