NewEdge Wealth LLC Makes New $533,000 Investment in Royalty Pharma PLC $RPRX

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

Several other institutional investors and hedge funds also recently made changes to their positions in RPRX. Barton Investment Management bought a new position in Royalty Pharma during the first quarter worth $905,000. Nomura Asset Management Co. Ltd. increased its stake in Royalty Pharma by 16.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock valued at $6,662,000 after purchasing an additional 24,048 shares in the last quarter. Qsemble Capital Management LP bought a new stake in Royalty Pharma in the fourth quarter valued at $2,875,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Royalty Pharma during the fourth quarter valued at about $4,923,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of Royalty Pharma by 10.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 233,320 shares of the biopharmaceutical company’s stock worth $9,016,000 after purchasing an additional 22,015 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Stock Up 2.1%

Shares of NASDAQ RPRX opened at $59.97 on Wednesday. The stock has a market capitalization of $34.53 billion, a P/E ratio of 40.80, a P/E/G ratio of 10.40 and a beta of 0.43. The company has a 50-day moving average price of $55.88 and a 200-day moving average price of $49.54. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $60.08. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66.

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, topping analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The company had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. On average, equities research analysts forecast that Royalty Pharma PLC will post 5.18 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued 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 of this dividend is Friday, August 14th. Royalty Pharma’s payout ratio is currently 63.95%.

Insider Buying and Selling

In other news, CFO Terrance P. Coyne sold 64,399 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total value of $3,476,258.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $56.52, for a total value of $5,652,000.00. Following the transaction, the executive vice president directly owned 459,399 shares in the company, valued at approximately $25,965,231.48. The trade was a 17.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 393,009 shares of company stock valued at $21,601,827. Company insiders own 18.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RPRX. Morgan Stanley raised their target price on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. TD Cowen upped their price target on Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. JPMorgan Chase & Co. increased their price target on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. UBS Group raised their price objective on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $56.57.

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.