Tudor Investment Corp ET AL Grows Stock Holdings in Royalty Pharma PLC $RPRX

Tudor Investment Corp ET AL lifted its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 34.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 863,835 shares of the biopharmaceutical company’s stock after buying an additional 221,099 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Royalty Pharma were worth $30,476,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of Royalty Pharma by 28.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,759,620 shares of the biopharmaceutical company’s stock valued at $62,079,000 after acquiring an additional 386,108 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Royalty Pharma in the 3rd quarter valued at $480,000. Alpine Global Management LLC acquired a new stake in Royalty Pharma in the 3rd quarter valued at $513,000. WBI Investments LLC purchased a new position in Royalty Pharma in the third quarter valued at about $1,915,000. Finally, Danske Bank A S acquired a new position in shares of Royalty Pharma during the third quarter worth about $17,134,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RPRX shares. Leerink Partners set a $45.00 target price on Royalty Pharma in a research note on Thursday, December 11th. The Goldman Sachs Group restated a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. Morgan Stanley reiterated an “overweight” rating and set a $61.00 price objective on shares of Royalty Pharma in a research note on Thursday, February 12th. Weiss Ratings raised shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. Finally, Citigroup upped their target price on shares of Royalty Pharma from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $48.67.

Insider Transactions at Royalty Pharma

In other news, EVP Marshall Urist sold 20,000 shares of Royalty Pharma stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $41.09, for a total value of $821,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Terrance P. Coyne sold 114,954 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $42.84, for a total transaction of $4,924,629.36. Following the sale, the chief financial officer directly owned 23,972 shares of the company’s stock, valued at approximately $1,026,960.48. This represents a 82.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 517,496 shares of company stock worth $21,418,283. Insiders own 18.90% of the company’s stock.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $45.53 on Friday. Royalty Pharma PLC has a twelve month low of $29.66 and a twelve month high of $47.86. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $26.26 billion, a price-to-earnings ratio of 33.73 and a beta of 0.40. The business has a 50 day simple moving average of $43.68 and a 200-day simple moving average of $39.81.

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

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th were issued a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, February 20th. 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.