Dorsey Asset Management LLC Sells 90,980 Shares of Royalty Pharma PLC $RPRX

Dorsey Asset Management LLC lessened its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,259,469 shares of the biopharmaceutical company’s stock after selling 90,980 shares during the quarter. Royalty Pharma makes up approximately 7.6% of Dorsey Asset Management LLC’s investment portfolio, making the stock its 6th largest position. Dorsey Asset Management LLC’s holdings in Royalty Pharma were worth $87,306,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. LM Advisors LLC acquired a new position in Royalty Pharma during the fourth quarter worth approximately $26,000. Lloyd Advisory Services LLC. acquired a new position in Royalty Pharma during the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC increased its position in Royalty Pharma by 868.1% during the third quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 790 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Royalty Pharma by 52.9% in the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Royalty Pharma by 66.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 446 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. TD Cowen restated a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. Citigroup raised their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley raised their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Finally, Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $53.71.

Insider Buying and Selling

In related news, CFO Terrance P. Coyne sold 64,399 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $53.98, for a total transaction 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, EVP Marshall Urist sold 13,684 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $52.75, for a total value of $721,831.00. Following the sale, the executive vice president directly owned 18,197 shares in the company, valued at $959,891.75. This represents a 42.92% 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 have sold 199,185 shares of company stock valued at $10,082,926 over the last 90 days. 18.84% of the stock is owned by corporate insiders.

Royalty Pharma Trading Down 0.1%

Shares of NASDAQ:RPRX opened at $54.21 on Wednesday. The company has a market capitalization of $31.22 billion, a P/E ratio of 36.88, a P/E/G ratio of 1.49 and a beta of 0.43. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $56.50. 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 business’s 50 day simple moving average is $51.82 and its 200 day simple moving average is $45.82.

Royalty Pharma (NASDAQ:RPRX) last issued 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. The business had revenue of $630.58 million for the quarter, compared to the consensus estimate of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. On average, research analysts anticipate that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a yield of 1.7%. Royalty Pharma’s dividend payout ratio is currently 63.95%.

Royalty Pharma Company Profile

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.