The Manufacturers Life Insurance Company Buys 219,772 Shares of Royalty Pharma PLC $RPRX

The Manufacturers Life Insurance Company raised its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 244.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 309,737 shares of the biopharmaceutical company’s stock after purchasing an additional 219,772 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Royalty Pharma worth $14,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RPRX. TD Cowen raised their target price on shares of Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Morgan Stanley upped their price target 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 increased their price objective on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Weiss Ratings cut Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Finally, Citigroup boosted their target price on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma presently has an average rating of “Buy” and a consensus price target of $56.57.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, CFO Terrance P. Coyne sold 64,399 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total transaction of $3,476,258.02. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value of $508,452.12. The SEC filing for this sale provides additional information. 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 ninety days. 18.84% of the stock is owned by insiders.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $58.43 on Monday. The business has a fifty day moving average of $56.19 and a 200 day moving average of $49.93. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $60.44. 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 firm has a market capitalization of $33.65 billion, a price-to-earnings ratio of 39.75, a price-to-earnings-growth ratio of 10.35 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The firm had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. As a group, research analysts expect that Royalty Pharma PLC will post 5.18 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a $0.235 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio is presently 63.95%.

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.