Neo Ivy Capital Management Buys New Position in Royalty Pharma PLC $RPRX

Neo Ivy Capital Management purchased a new position in Royalty Pharma PLC (NASDAQ:RPRX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,590 shares of the biopharmaceutical company’s stock, valued at approximately $797,000.

A number of other large investors have also modified their holdings of RPRX. Royal Bank of Canada raised its position in shares of Royalty Pharma by 367.7% in the 1st quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock valued at $6,342,000 after purchasing an additional 160,191 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Royalty Pharma by 20.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock worth $2,490,000 after purchasing an additional 13,489 shares during the last quarter. Focus Partners Wealth purchased a new stake in Royalty Pharma during the 1st quarter worth approximately $264,000. Intech Investment Management LLC increased its stake in Royalty Pharma by 41.0% during the 1st quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock valued at $1,494,000 after purchasing an additional 13,951 shares in the last quarter. Finally, Assetmark Inc. increased its stake in Royalty Pharma by 443.4% during the 2nd quarter. Assetmark Inc. now owns 3,304 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 2,696 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Insider Activity

In other Royalty Pharma news, EVP Marshall Urist sold 20,000 shares of Royalty Pharma stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $41.09, for a total transaction of $821,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Terrance P. Coyne sold 34,791 shares of Royalty Pharma stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $46.78, for a total value of $1,627,522.98. Following the transaction, the chief financial officer owned 45,761 shares of the company’s stock, valued at $2,140,699.58. The trade was a 43.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 737,078 shares of company stock worth $29,862,002 over the last ninety days. 18.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RPRX. Citigroup lifted their price objective on shares of Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. UBS Group raised Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Friday, January 30th. Morgan Stanley restated an “overweight” rating and issued a $61.00 target price on shares of Royalty Pharma in a research note on Thursday, February 12th. Weiss Ratings raised Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. Finally, TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $48.67.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX opened at $45.41 on Friday. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a 12 month low of $29.66 and a 12 month high of $47.86. The company has a 50 day simple moving average of $42.54 and a two-hundred day simple moving average of $39.22. The stock has a market cap of $26.20 billion, a price-to-earnings ratio of 33.64 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.33 by $0.13. Royalty Pharma had a net margin of 32.38% and a return on equity of 28.21%. The business had revenue of $621.99 million for the quarter, compared to the consensus estimate of $839.97 million. As a group, analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th will be issued a $0.235 dividend. The ex-dividend date of this dividend is Friday, February 20th. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.22. This represents a $0.94 annualized dividend and a yield of 2.1%. Royalty Pharma’s dividend payout ratio is currently 69.63%.

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.