Lansforsakringar Fondforvaltning AB publ Raises Stock Holdings in Royalty Pharma PLC $RPRX

Lansforsakringar Fondforvaltning AB publ grew its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 9.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 162,789 shares of the biopharmaceutical company’s stock after buying an additional 13,910 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Royalty Pharma were worth $7,809,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Nomura Asset Management Co. Ltd. raised its stake in Royalty Pharma by 16.2% in 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 purchasing an additional 24,048 shares during the last quarter. Barton Investment Management acquired a new stake in Royalty Pharma during the 1st quarter worth $905,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Royalty Pharma during the fourth quarter worth $4,923,000. Qsemble Capital Management LP purchased a new stake in shares of Royalty Pharma during the fourth quarter worth $2,875,000. Finally, Regal Partners Ltd raised its position in shares of Royalty Pharma by 6.7% in the third quarter. Regal Partners Ltd now owns 1,435,126 shares of the biopharmaceutical company’s stock valued at $50,631,000 after buying an additional 89,930 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RPRX. Morgan Stanley raised their target price on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. lifted their price objective on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. 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. Finally, UBS Group raised their target price on Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma currently has an average rating of “Buy” and a consensus price target of $53.71.

Royalty Pharma Trading Down 0.5%

NASDAQ RPRX opened at $55.78 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market capitalization of $32.12 billion, a P/E ratio of 37.95, a PEG ratio of 1.54 and a beta of 0.43. The firm’s 50-day moving average is $53.23 and its two-hundred day moving average is $47.02. Royalty Pharma PLC has a 12 month low of $34.08 and a 12 month high of $57.22.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The business had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. On average, sell-side analysts anticipate that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid 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 is 63.95%.

Insider Transactions at Royalty Pharma

In other news, EVP Marshall Urist sold 13,684 shares of Royalty Pharma stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $53.06, for a total value of $726,073.04. Following the completion of the sale, the executive vice president directly owned 31,881 shares of the company’s stock, valued at approximately $1,691,605.86. The trade was a 30.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 the business’s 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 288,701 shares of company stock valued at $15,479,471 over the last three months. 18.84% of the stock is currently owned by company 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.