Hohimer Wealth Management LLC Buys 143,912 Shares of Royalty Pharma PLC $RPRX

Hohimer Wealth Management LLC purchased a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 143,912 shares of the biopharmaceutical company’s stock, valued at approximately $8,399,000. Royalty Pharma makes up about 0.6% of Hohimer Wealth Management LLC’s investment portfolio, making the stock its 24th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M Holdings Securities Inc. acquired a new stake in Royalty Pharma during the 3rd quarter worth $297,000. Ethic Inc. grew its stake in Royalty Pharma by 37.6% in the third quarter. Ethic Inc. now owns 6,324 shares of the biopharmaceutical company’s stock valued at $369,000 after acquiring an additional 1,727 shares during the period. Pictet Asset Management Holding SA grew its stake in Royalty Pharma by 13.2% in the third quarter. Pictet Asset Management Holding SA now owns 343,561 shares of the biopharmaceutical company’s stock valued at $20,041,000 after acquiring an additional 40,095 shares during the period. Calamos Wealth Management LLC grew its stake in Royalty Pharma by 3.8% in the third quarter. Calamos Wealth Management LLC now owns 196,188 shares of the biopharmaceutical company’s stock valued at $11,450,000 after acquiring an additional 7,224 shares during the period. Finally, Calamos Advisors LLC increased its holdings in shares of Royalty Pharma by 8.2% in the third quarter. Calamos Advisors LLC now owns 620,555 shares of the biopharmaceutical company’s stock worth $36,216,000 after acquiring an additional 47,034 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Insider Transactions at Royalty Pharma

In other news, EVP Marshall Urist sold 4,126 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $57.10, for a total transaction of $235,594.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total value of $5,853,000.00. Following the transaction, the executive vice president directly owned 270,401 shares of the company’s stock, valued at $15,826,570.53. This represents a 27.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 208,252 shares of company stock worth $12,324,407. Corporate insiders own 18.84% of the company’s stock.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $67.30 on Monday. The company has a fifty day moving average price of $60.82 and a 200 day moving average price of $53.81. The firm has a market cap of $38.70 billion, a PE ratio of 56.08, a PEG ratio of 1.33 and a beta of 0.36. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.77. Royalty Pharma PLC has a 1-year low of $37.31 and a 1-year high of $69.77.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 13th will be issued a $0.2350 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Royalty Pharma’s payout ratio is 78.33%.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of research analyst reports. TD Cowen raised their price target on Royalty Pharma from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Wall Street Zen cut Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 26th. Morgan Stanley boosted their price objective on Royalty Pharma from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Citigroup increased their target price on Royalty Pharma from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Eight analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $63.29.

Royalty Pharma Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to companies and inventors in exchange for royalty interests in medicines. It acquires existing royalties and helps finance drug development and commercialization through royalty-based transactions and other forms of funding.

The company’s portfolio includes royalty interests in medicines across a range of therapeutic areas, spanning both approved treatments and products in development. Royalty Pharma generally earns revenue when these medicines are sold; it does not operate as a conventional drug manufacturer or commercialize medicines itself.

Founded in 1996 by Pablo Legorreta, the company became publicly listed in 2020.