Carmignac Gestion Invests $30.28 Million in Royalty Pharma PLC $RPRX

Carmignac Gestion bought a new stake in Royalty Pharma PLC (NASDAQ:RPRX) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 631,200 shares of the biopharmaceutical company’s stock, valued at approximately $30,279,000.

Other hedge funds also recently made changes to their positions in the company. LM Advisors LLC bought a new position in Royalty Pharma in the fourth quarter worth $26,000. Lloyd Advisory Services LLC. bought a new stake in shares of Royalty Pharma during the 4th quarter valued at $30,000. Private Trust Co. NA boosted its holdings 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 valued at $32,000 after buying an additional 288 shares in the last quarter. Blue Trust Inc. grew its position 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 period. Finally, CIBC Private Wealth Group LLC grew its position 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 period. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of recent research reports. TD Cowen lifted their price target on shares of Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. upped their price objective on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Morgan Stanley raised their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. UBS Group lifted their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Citigroup boosted their price target on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $56.57.

Insider Activity

In other news, 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 value of $3,476,258.02. The sale 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, Director Gregory Norden sold 3,045 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $53.00, for a total transaction of $161,385.00. Following the sale, the director owned 191,803 shares in the company, valued at approximately $10,165,559. The trade was a 1.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 393,009 shares of company stock valued at $21,601,827 over the last ninety days. 18.84% of the stock is currently owned by corporate insiders.

Royalty Pharma Price Performance

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

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) 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 analysts’ expectations of $881.69 million. As a group, equities analysts expect that Royalty Pharma PLC will post 5.18 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a $0.235 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.94 annualized dividend and a yield of 1.6%. Royalty Pharma’s payout ratio is 63.95%.

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.