17,886 Royalty Pharma PLC $RPRX Shares Bought by Machina Capital S.A.S.

Machina Capital S.A.S. increased its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 59.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,936 shares of the biopharmaceutical company’s stock after purchasing an additional 17,886 shares during the period. Machina Capital S.A.S.’s holdings in Royalty Pharma were worth $2,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RPRX. Provenance Wealth Advisors LLC bought a new position in Royalty Pharma in the 3rd quarter worth approximately $26,000. CoreCap Advisors LLC raised its position in shares of Royalty Pharma by 89.2% during the second quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 413 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Royalty Pharma by 34.7% in the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 282 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Royalty Pharma in the third quarter worth $62,000. Finally, IFP Advisors Inc lifted its holdings in shares of Royalty Pharma by 263.3% in the second quarter. IFP Advisors Inc now owns 1,188 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 861 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Insider Activity at Royalty Pharma

In other news, EVP Christopher Hite sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the completion of the transaction, the executive vice president directly owned 270,401 shares in the company, valued at approximately $15,826,570.53. This represents a 27.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 4,126 shares of the firm’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $57.10, for a total transaction of $235,594.60. 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 a total of 208,252 shares of company stock worth $12,324,407 over the last ninety days. Insiders own 18.84% of the company’s stock.

Wall Street Analyst Weigh In

RPRX has been the subject of a number of research reports. Bank of America restated a “buy” rating on shares of Royalty Pharma in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, September 14th. Citigroup lifted their price target on shares of Royalty Pharma from $70.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, November 5th. 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 report on Friday, August 7th. Finally, Morgan Stanley boosted their price target on shares of Royalty Pharma from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. Eight investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $63.29.

Royalty Pharma Price Performance

Shares of Royalty Pharma stock opened at $70.01 on Thursday. The stock has a 50 day moving average of $61.29 and a 200 day moving average of $54.25. Royalty Pharma PLC has a 12 month low of $37.31 and a 12 month high of $70.27. The firm has a market cap of $40.26 billion, a PE ratio of 58.34, a PEG ratio of 1.37 and a beta of 0.37. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be paid a $0.2350 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.94 dividend on an annualized basis and a yield of 1.3%. Royalty Pharma’s payout ratio is presently 78.33%.

Royalty Pharma Company 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.