Franklin Resources Inc. Buys 151,248 Shares of Royalty Pharma PLC $RPRX

Franklin Resources Inc. boosted its position in Royalty Pharma PLC (NASDAQ:RPRX) by 19.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 934,222 shares of the biopharmaceutical company’s stock after buying an additional 151,248 shares during the quarter. Franklin Resources Inc. owned approximately 0.17% of Royalty Pharma worth $33,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the business. USA Financial Formulas purchased a new position in Royalty Pharma in the 2nd quarter valued at approximately $32,000. Summit Securities Group LLC bought a new position in shares of Royalty Pharma in the 1st quarter worth $36,000. WPG Advisers LLC purchased a new stake in Royalty Pharma during the first quarter valued at about $39,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Royalty Pharma by 42.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 402 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Royalty Pharma by 113.8% during the second quarter. Farther Finance Advisors LLC now owns 1,428 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 760 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Trading Up 0.8%

Royalty Pharma stock opened at $39.84 on Thursday. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $41.24. The company has a market cap of $23.00 billion, a P/E ratio of 30.18, a P/E/G ratio of 2.08 and a beta of 0.56. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.89. The business has a 50-day simple moving average of $37.30 and a two-hundred day simple moving average of $36.05.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.06. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. The business had revenue of $609.29 million for the quarter, compared to analysts’ expectations of $765.01 million. Analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 14th. This represents a $0.88 annualized dividend and a yield of 2.2%. Royalty Pharma’s payout ratio is 66.67%.

Insider Activity

In other news, EVP George W. Lloyd sold 132,426 shares of Royalty Pharma stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $38.34, for a total transaction of $5,077,212.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Terrance P. Coyne sold 69,582 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $38.55, for a total value of $2,682,386.10. Following the transaction, the chief financial officer owned 51,010 shares of the company’s stock, valued at approximately $1,966,435.50. This trade represents a 57.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 344,196 shares of company stock valued at $13,344,707 in the last three months. 18.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley decreased their price objective on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. The Goldman Sachs Group started coverage on shares of Royalty Pharma in a research note on Tuesday, September 30th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, TD Cowen cut Royalty Pharma from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 17th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.