Quantinno Capital Management LP Boosts Stock Position in Royalty Pharma PLC $RPRX

Quantinno Capital Management LP raised its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 12.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 382,571 shares of the biopharmaceutical company’s stock after purchasing an additional 41,417 shares during the quarter. Quantinno Capital Management LP’s holdings in Royalty Pharma were worth $18,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of RPRX. Morgan Stanley increased its position in shares of Royalty Pharma by 25.2% during the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock valued at $2,135,790,000 after purchasing an additional 11,110,115 shares during the last quarter. Capital International Investors grew its position in Royalty Pharma by 14.3% during the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock valued at $1,201,870,000 after buying an additional 3,891,615 shares during the period. State Street Corp grew its position in Royalty Pharma by 3.7% during the fourth quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock valued at $411,502,000 after buying an additional 376,888 shares during the period. Geode Capital Management LLC increased its holdings in Royalty Pharma by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock worth $297,465,000 after buying an additional 102,430 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Royalty Pharma by 9.7% during the fourth quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock worth $197,331,000 after buying an additional 449,498 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Insider Buying and Selling

In other news, Director Gregory Norden sold 3,045 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.00, for a total value of $161,385.00. Following the sale, the director directly owned 191,803 shares of the company’s stock, valued at approximately $10,165,559. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 on Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total transaction of $8,160,000.00. Following the completion of the transaction, the executive vice president directly owned 559,399 shares of the company’s stock, valued at approximately $30,431,305.60. The trade was a 21.14% decrease in their ownership of the stock. 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. Insiders sold 393,009 shares of company stock valued at $21,601,827 over the last three months. Insiders own 18.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on RPRX. JPMorgan Chase & Co. boosted their target price 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. TD Cowen raised their price target on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. UBS Group lifted their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, Morgan Stanley upped their price objective on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and a consensus price target of $56.57.

Royalty Pharma Stock Performance

Shares of RPRX opened at $58.43 on Monday. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $60.44. The business has a 50-day moving average of $56.19 and a 200 day moving average of $49.93. The firm has a market cap of $33.65 billion, a P/E ratio of 39.75, a price-to-earnings-growth ratio of 10.35 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 (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. The business had revenue of $630.58 million for the quarter, compared to the consensus estimate of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. As a group, research analysts forecast that Royalty Pharma PLC will post 5.18 EPS for the current year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a dividend of $0.235 per share. The ex-dividend date is Friday, August 14th. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. Royalty Pharma’s dividend payout ratio is currently 63.95%.

Royalty Pharma 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.