Intech Investment Management LLC Raises Stock Holdings in Royalty Pharma PLC $RPRX

Intech Investment Management LLC lifted its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,363 shares of the biopharmaceutical company’s stock after acquiring an additional 5,371 shares during the period. Intech Investment Management LLC’s holdings in Royalty Pharma were worth $1,923,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Planning grew its position in Royalty Pharma by 22.7% during the 2nd quarter. Creative Planning now owns 52,553 shares of the biopharmaceutical company’s stock worth $1,893,000 after purchasing an additional 9,718 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Royalty Pharma by 28.5% during the second quarter. SG Americas Securities LLC now owns 68,705 shares of the biopharmaceutical company’s stock worth $2,475,000 after buying an additional 15,218 shares during the period. Monetta Financial Services Inc. purchased a new position in shares of Royalty Pharma during the second quarter worth about $1,081,000. Police & Firemen s Retirement System of New Jersey raised its stake in Royalty Pharma by 4.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 59,291 shares of the biopharmaceutical company’s stock valued at $2,136,000 after acquiring an additional 2,425 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Royalty Pharma by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 8,176,504 shares of the biopharmaceutical company’s stock valued at $299,494,000 after acquiring an additional 177,036 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Trading Up 1.4%

Shares of Royalty Pharma stock opened at $38.92 on Friday. The company has a 50-day moving average of $37.04 and a two-hundred day moving average of $35.89. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $41.24. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.89. The stock has a market cap of $22.47 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 2.02 and a beta of 0.56.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%.The business had revenue of $609.29 million for the quarter, compared to analysts’ expectations of $765.01 million. On average, research analysts anticipate that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a $0.22 dividend. The ex-dividend date is Friday, November 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. Royalty Pharma’s dividend payout ratio (DPR) is currently 66.67%.

Insiders Place Their Bets

In other Royalty Pharma news, CFO Terrance P. Coyne sold 69,594 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $39.30, for a total transaction of $2,735,044.20. Following the completion of the transaction, the chief financial officer directly owned 54,760 shares in the company, valued at approximately $2,152,068. This trade represents a 55.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP George W. Lloyd sold 132,426 shares of Royalty Pharma stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $38.34, for a total transaction of $5,077,212.84. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 274,614 shares of company stock valued at $10,662,321. Company insiders own 18.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on RPRX shares. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 15th. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Morgan Stanley cut their price objective on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. TD Cowen cut shares of Royalty Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Finally, The Goldman Sachs Group began coverage on shares of Royalty Pharma in a research note on Tuesday, September 30th. They set a “buy” rating and a $42.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Royalty Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

Royalty Pharma Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.