Royalty Pharma PLC $RPRX Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 244.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,737 shares of the biopharmaceutical company’s stock after purchasing an additional 219,772 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Royalty Pharma were worth $14,858,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Morgan Stanley boosted its holdings in Royalty Pharma by 25.2% during the fourth quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after buying an additional 11,110,115 shares in the last quarter. Capital International Investors increased its holdings in Royalty Pharma by 14.3% in 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 in the last quarter. Norges Bank purchased a new position in Royalty Pharma in the fourth quarter valued at $131,923,000. Qube Research & Technologies Ltd raised its position in shares of Royalty Pharma by 737.3% in the third quarter. Qube Research & Technologies Ltd now owns 2,481,771 shares of the biopharmaceutical company’s stock worth $87,557,000 after acquiring an additional 2,185,366 shares during the period. Finally, Millennium Management LLC raised its position in shares of Royalty Pharma by 379.2% in the third quarter. Millennium Management LLC now owns 2,235,133 shares of the biopharmaceutical company’s stock worth $78,855,000 after acquiring an additional 1,768,702 shares during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $58.43 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market capitalization of $33.65 billion, a PE ratio of 39.75, a P/E/G ratio of 10.35 and a beta of 0.43. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $60.44. The company has a fifty day moving average of $56.19 and a two-hundred day moving average of $49.93.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (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 analyst estimates 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 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be paid a $0.235 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a yield of 1.6%. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Weiss Ratings cut Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 15th. Morgan Stanley upped their price target on Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, April 10th. Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Citigroup raised their price objective 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 boosted their price objective on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Royalty Pharma presently has a consensus rating of “Buy” and an average price target of $56.57.

Insider Transactions at Royalty Pharma

In other Royalty Pharma news, EVP Christopher Hite sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $56.52, for a total transaction of $5,652,000.00. Following the completion of the sale, the executive vice president directly owned 459,399 shares in the company, valued at approximately $25,965,231.48. The trade was a 17.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total value of $508,452.12. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 393,009 shares of company stock valued at $21,601,827. 18.84% of the stock is currently owned by corporate insiders.

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.