Royalty Pharma PLC $RPRX is Torray Investment Partners LLC’s Largest Position

Torray Investment Partners LLC reduced its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 13.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 645,425 shares of the biopharmaceutical company’s stock after selling 98,930 shares during the quarter. Royalty Pharma accounts for about 4.5% of Torray Investment Partners LLC’s investment portfolio, making the stock its biggest holding. Torray Investment Partners LLC’s holdings in Royalty Pharma were worth $30,961,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RPRX. Barton Investment Management acquired a new position in Royalty Pharma during the first quarter worth about $905,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Royalty Pharma by 16.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company’s stock valued at $6,662,000 after acquiring an additional 24,048 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Royalty Pharma during the 4th quarter worth approximately $4,923,000. Qsemble Capital Management LP acquired a new stake in shares of Royalty Pharma in the 4th quarter worth approximately $2,875,000. Finally, Nordea Investment Management AB grew its holdings in shares of Royalty Pharma by 4.7% in the 4th quarter. Nordea Investment Management AB now owns 812,663 shares of the biopharmaceutical company’s stock worth $31,604,000 after acquiring an additional 36,664 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Citigroup upped their target price on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Morgan Stanley raised their price target on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. UBS Group boosted their price objective on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, 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 note on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, Royalty Pharma presently has an average rating of “Buy” and a consensus target price of $53.71.

Royalty Pharma Price Performance

RPRX stock traded down $1.53 on Friday, reaching $56.43. The company had a trading volume of 2,518,723 shares, compared to its average volume of 3,280,736. The company’s fifty day moving average is $54.35 and its 200 day moving average is $47.90. The company has a market cap of $32.49 billion, a P/E ratio of 38.39, a PEG ratio of 1.59 and a beta of 0.43. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $58.84.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The company had revenue of $630.58 million during the quarter, compared to the consensus estimate of $881.69 million. On average, research analysts forecast that Royalty Pharma PLC will post 5.06 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed 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. This represents a $0.94 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 15th. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

Insider Activity

In other Royalty Pharma news, EVP Marshall Urist sold 13,684 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.06, for a total value of $726,073.04. Following the transaction, the executive vice president directly owned 31,881 shares in the company, valued at approximately $1,691,605.86. This represents a 30.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the executive vice president directly owned 559,399 shares in the company, valued at $30,431,305.60. This represents a 21.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 427,800 shares of company stock worth $23,333,723. Company insiders own 18.84% of the company’s stock.

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.