CI Investments Inc. Has $8.33 Million Stock Holdings in Royalty Pharma PLC $RPRX

CI Investments Inc. grew its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 154.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,663 shares of the biopharmaceutical company’s stock after buying an additional 105,516 shares during the period. CI Investments Inc.’s holdings in Royalty Pharma were worth $8,331,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of RPRX. Barton Investment Management acquired a new stake in Royalty Pharma in the first quarter valued at $905,000. Nomura Asset Management Co. Ltd. grew its holdings in 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 worth $6,662,000 after acquiring an additional 24,048 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Royalty Pharma in the 4th quarter worth about $4,923,000. Qsemble Capital Management LP acquired a new stake in shares of Royalty Pharma in the 4th quarter valued at about $2,875,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of Royalty Pharma by 10.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 233,320 shares of the biopharmaceutical company’s stock valued at $9,016,000 after purchasing an additional 22,015 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. TD Cowen lifted their price target on Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Citigroup upped their price objective on Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their target price on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. UBS Group lifted their target price on Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Seven 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 an average target price of $56.57.

Royalty Pharma Stock Up 0.5%

NASDAQ:RPRX opened at $59.02 on Friday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. The stock has a 50 day moving average of $55.48 and a 200-day moving average of $49.14. The firm has a market capitalization of $33.99 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 10.40 and a beta of 0.43. Royalty Pharma PLC has a 52 week low of $34.08 and a 52 week high of $59.44.

Royalty Pharma (NASDAQ:RPRX) last issued its 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. The firm had revenue of $630.58 million for the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. Analysts predict that Royalty Pharma PLC will post 5.18 EPS for the current year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a $0.235 dividend. 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 (DPR) is presently 63.95%.

Insiders Place Their Bets

In related news, Director Gregory Norden sold 3,045 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was 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 in the company, valued at $10,165,559. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total value of $3,476,258.02. 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. In the last three months, insiders sold 427,800 shares of company stock worth $23,333,723. 18.84% of the stock is currently owned by corporate insiders.

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.