HighTower Advisors LLC Buys 61,166 Shares of Royalty Pharma PLC $RPRX

HighTower Advisors LLC boosted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 27.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,122 shares of the biopharmaceutical company’s stock after purchasing an additional 61,166 shares during the quarter. HighTower Advisors LLC’s holdings in Royalty Pharma were worth $10,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Royalty Pharma by 28.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 140,131 shares of the biopharmaceutical company’s stock valued at $4,944,000 after buying an additional 31,045 shares during the last quarter. Regal Partners Ltd raised its stake in Royalty Pharma by 6.7% in the third quarter. Regal Partners Ltd now owns 1,435,126 shares of the biopharmaceutical company’s stock valued at $50,631,000 after buying an additional 89,930 shares during the last quarter. Nordea Investment Management AB raised its stake in Royalty Pharma by 4.7% in the fourth quarter. Nordea Investment Management AB now owns 812,663 shares of the biopharmaceutical company’s stock valued at $31,604,000 after buying an additional 36,664 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Royalty Pharma by 15.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,268,044 shares of the biopharmaceutical company’s stock valued at $48,997,000 after buying an additional 166,403 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in Royalty Pharma in the third quarter valued at about $19,514,000. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

Shares of NASDAQ:RPRX opened at $54.50 on Tuesday. Royalty Pharma PLC has a 52-week low of $32.15 and a 52-week high of $54.64. The stock has a market cap of $31.38 billion, a price-to-earnings ratio of 37.08, a PEG ratio of 1.50 and a beta of 0.40. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average price of $49.20 and a 200-day moving average price of $44.08.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) 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 firm had revenue of $631.00 million during the quarter, compared to analysts’ expectations of $881.69 million. Equities analysts predict that Royalty Pharma PLC will post 5.05 EPS for the current year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.235 per share. The ex-dividend date is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.7%. Royalty Pharma’s dividend payout ratio (DPR) is presently 63.95%.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of research analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Morgan Stanley increased their price target on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Citigroup increased their price target on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings cut Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.71.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, Director Gregory Norden sold 3,045 shares of Royalty Pharma stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the completion of the transaction, the director owned 191,803 shares in the company, valued at approximately $10,165,559. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 34,791 shares of Royalty Pharma stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $49.78, for a total value of $1,731,895.98. 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. In the last quarter, insiders sold 169,577 shares of company stock worth $8,234,191. Insiders own 18.84% of the company’s stock.

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.