Lansforsakringar Fondforvaltning AB publ Increases Stake in Royalty Pharma PLC $RPRX

Lansforsakringar Fondforvaltning AB publ boosted its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 9.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,789 shares of the biopharmaceutical company’s stock after buying an additional 13,910 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Royalty Pharma were worth $7,809,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. boosted its holdings in Royalty Pharma by 16.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock valued at $6,662,000 after purchasing an additional 24,048 shares during the period. Barton Investment Management purchased a new stake in Royalty Pharma during the 1st quarter worth about $905,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Royalty Pharma during the 4th quarter worth about $4,923,000. Regal Partners Ltd raised its position in Royalty Pharma by 6.7% in the 3rd quarter. Regal Partners Ltd now owns 1,435,126 shares of the biopharmaceutical company’s stock valued at $50,631,000 after purchasing an additional 89,930 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new position in shares of Royalty Pharma in the 4th quarter valued at about $2,875,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Insider Buying and Selling at Royalty Pharma

In related news, EVP Christopher Hite sold 150,000 shares of the firm’s 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 transaction, the executive vice president owned 559,399 shares of the company’s stock, valued at $30,431,305.60. This trade represents a 21.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of the business’s 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. 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. In the last three months, insiders have sold 288,701 shares of company stock valued at $15,479,471. Company insiders own 18.84% of the company’s stock.

Wall Street Analyst Weigh In

RPRX has been the subject of a number of analyst reports. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. UBS Group raised their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Morgan Stanley lifted their price target 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. JPMorgan Chase & Co. increased their price objective 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. Finally, Citigroup raised their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $53.71.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $55.78 on Thursday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a twelve month low of $34.08 and a twelve month high of $57.22. The stock has a 50 day moving average of $53.23 and a two-hundred day moving average of $47.02. The stock has a market cap of $32.12 billion, a P/E ratio of 37.95, a P/E/G ratio of 1.54 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The business had revenue of $630.58 million for the quarter, compared to analysts’ expectations of $881.69 million. On average, research analysts forecast that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Dividend Announcement

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

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.