Edgestream Partners L.P. Decreases Stock Holdings in Royalty Pharma PLC $RPRX

Edgestream Partners L.P. reduced its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 36.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,942 shares of the biopharmaceutical company’s stock after selling 37,986 shares during the quarter. Edgestream Partners L.P.’s holdings in Royalty Pharma were worth $3,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. LM Advisors LLC bought a new position in Royalty Pharma in the 4th quarter valued at $26,000. Blue Trust Inc. increased its position 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 valued at $33,000 after purchasing an additional 437 shares during the last quarter. Lloyd Advisory Services LLC. bought a new stake in shares of Royalty Pharma during the 4th quarter worth $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 purchasing an additional 288 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Royalty Pharma by 34.7% during the 1st quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 282 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Down 1.0%

Shares of NASDAQ RPRX opened at $58.43 on Friday. 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 stock has a market capitalization of $33.65 billion, a PE ratio of 39.75, a P/E/G ratio of 10.35 and a beta of 0.43. Royalty Pharma PLC has a one year low of $34.08 and a one year high of $60.44. The business’s fifty day moving average price is $56.19 and its 200-day moving average price is $49.86.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share 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 company had revenue of $630.58 million during the quarter, compared to analyst estimates of $881.69 million. On average, equities research analysts anticipate that Royalty Pharma PLC will post 5.18 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given 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 is Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

Insider Buying and Selling at Royalty Pharma

In other news, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 150,000 shares of Royalty Pharma stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the completion of the transaction, the executive vice president owned 559,399 shares of the company’s stock, valued at $30,431,305.60. The trade was a 21.14% decrease in their position. 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. Insiders have sold 393,009 shares of company stock worth $21,601,827 over the last ninety days. Company insiders own 18.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group increased their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. TD Cowen boosted 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. Citigroup boosted their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and a consensus target price 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.