Patient Capital Management LLC Has $110 Million Stock Position in Royalty Pharma PLC $RPRX

Patient Capital Management LLC lifted its position in Royalty Pharma PLC (NASDAQ:RPRX) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,117,850 shares of the biopharmaceutical company’s stock after acquiring an additional 129,862 shares during the period. Royalty Pharma makes up approximately 4.4% of Patient Capital Management LLC’s holdings, making the stock its 8th biggest holding. Patient Capital Management LLC’s holdings in Royalty Pharma were worth $109,998,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. USA Financial Formulas acquired a new stake in Royalty Pharma in the second quarter worth $32,000. Financial Consulate Inc. acquired a new stake in Royalty Pharma during the 3rd quarter worth $35,000. Farther Finance Advisors LLC lifted its holdings in 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. Richardson Financial Services Inc. acquired a new position in Royalty Pharma in the third quarter valued at about $54,000. Finally, Fifth Third Bancorp grew its stake in Royalty Pharma by 19.2% in the second quarter. Fifth Third Bancorp now owns 2,137 shares of the biopharmaceutical company’s stock valued at $77,000 after acquiring an additional 344 shares during the period. Institutional investors own 54.35% of the company’s stock.

Insider Activity

In related news, CFO Terrance P. Coyne sold 69,582 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $38.42, for a total value of $2,673,340.44. Following the completion of the transaction, the chief financial officer directly owned 39,760 shares of the company’s stock, valued at approximately $1,527,579.20. This trade represents a 63.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marshall Urist sold 20,000 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $39.52, for a total transaction of $790,400.00. Following the transaction, the executive vice president owned 40,000 shares in the company, valued at approximately $1,580,800. The trade was a 33.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 956,093 shares of company stock valued at $37,290,345. 18.90% of the stock is owned by insiders.

Royalty Pharma Trading Down 1.2%

Shares of NASDAQ:RPRX opened at $39.09 on Wednesday. The company’s 50-day moving average price is $39.31 and its two-hundred day moving average price is $37.48. Royalty Pharma PLC has a one year low of $29.66 and a one year high of $41.70. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.48 and a quick ratio of 3.48. The stock has a market capitalization of $22.56 billion, a PE ratio of 29.61, a price-to-earnings-growth ratio of 1.51 and a beta of 0.43.

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

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.235 per share. The ex-dividend date is Friday, February 20th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s dividend payout ratio (DPR) is currently 66.67%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RPRX. TD Cowen raised their price target on Royalty Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday. The Goldman Sachs Group started coverage on shares of Royalty Pharma in a research note on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price target on the stock. Leerink Partners set a $45.00 price objective on shares of Royalty Pharma in a research report on Thursday, December 11th. Finally, Cowen restated a “buy” rating on shares of Royalty Pharma in a report on Thursday, December 11th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.60.

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.