NewEdge Wealth LLC Takes $533,000 Position in Royalty Pharma PLC $RPRX

NewEdge Wealth LLC purchased a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 11,101 shares of the biopharmaceutical company’s stock, valued at approximately $533,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LM Advisors LLC bought a new stake in Royalty Pharma in the 4th quarter worth about $26,000. Lloyd Advisory Services LLC. bought a new position in shares of Royalty Pharma during the 4th quarter worth approximately $30,000. Private Trust Co. NA boosted its stake in shares of Royalty Pharma by 52.9% in the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 288 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Royalty Pharma by 173.4% in the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 437 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Royalty Pharma by 66.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 446 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Royalty Pharma

In other news, Director Gregory Norden sold 3,045 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $53.00, for a total value of $161,385.00. Following the sale, the director owned 191,803 shares of the company’s stock, valued at $10,165,559. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total transaction of $3,476,258.02. 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 393,009 shares of company stock worth $21,601,827 over the last three months. Company insiders own 18.84% of the company’s stock.

Royalty Pharma Stock Up 2.1%

Shares of NASDAQ RPRX opened at $59.97 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market capitalization of $34.53 billion, a PE ratio of 40.80, a P/E/G ratio of 10.40 and a beta of 0.43. Royalty Pharma PLC has a one year low of $34.08 and a one year high of $60.08. The business’s fifty day moving average price is $55.88 and its 200-day moving average price is $49.54.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The company had revenue of $630.58 million during the quarter, compared to analyst estimates of $881.69 million. On average, equities research analysts anticipate that Royalty Pharma PLC will post 5.18 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings cut Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. TD Cowen upped their price objective on Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Morgan Stanley lifted their target price on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $56.57.

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.