16,492 Shares in Royalty Pharma PLC $RPRX Acquired by Maridea Wealth Management LLC

Maridea Wealth Management LLC bought a new position in Royalty Pharma PLC (NASDAQ:RPRX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 16,492 shares of the biopharmaceutical company’s stock, valued at approximately $604,000.

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

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $45.34 on Thursday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.88. The stock has a market cap of $26.17 billion, a PE ratio of 33.59 and a beta of 0.42. The company’s fifty day moving average is $40.82 and its 200 day moving average is $38.45. Royalty Pharma PLC has a 52 week low of $29.66 and a 52 week high of $46.14.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating 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. Research analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th will be paid a $0.235 dividend. 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 presently 65.19%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RPRX. UBS Group raised shares of Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Friday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 price objective on shares of Royalty Pharma in a report on Thursday, February 12th. Leerink Partners set a $45.00 target price on shares of Royalty Pharma in a research report on Thursday, December 11th. Finally, TD Cowen restated a “buy” rating on shares of Royalty Pharma in a research report on Thursday, December 11th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $48.67.

Insider Activity at Royalty Pharma

In other Royalty Pharma news, CFO Terrance P. Coyne sold 20,163 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $43.29, for a total transaction of $872,856.27. Following the completion of the sale, the chief financial officer owned 22,885 shares of the company’s stock, valued at $990,691.65. This represents a 46.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Marshall Urist sold 20,000 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $41.09, for a total transaction of $821,800.00. The SEC filing for this sale provides additional information. Insiders sold 1,034,602 shares of company stock valued at $41,353,043 in the last quarter. Corporate insiders own 18.90% of the company’s stock.

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.