S&CO Inc. Makes New Investment in Royalty Pharma PLC $RPRX

S&CO Inc. purchased a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 358,302 shares of the biopharmaceutical company’s stock, valued at approximately $20,089,000. Royalty Pharma accounts for approximately 1.2% of S&CO Inc.’s holdings, making the stock its 23rd largest holding.

Other hedge funds also recently modified their holdings of the company. LM Advisors LLC bought a new position in Royalty Pharma during the fourth quarter valued at about $26,000. Blue Trust Inc. raised its position in Royalty Pharma by 173.4% in the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 437 shares in the last quarter. Lloyd Advisory Services LLC. bought a new stake in Royalty Pharma in the fourth quarter worth about $30,000. Private Trust Co. NA lifted its holdings in Royalty Pharma by 52.9% in the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 288 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its holdings in Royalty Pharma by 89.2% in the 2nd quarter. CoreCap Advisors LLC now owns 876 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 413 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Royalty Pharma

In related news, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $56.52, for a total value of $5,652,000.00. Following the completion of the sale, the executive vice president owned 459,399 shares in the company, valued at approximately $25,965,231.48. This represents a 17.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the firm’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 transaction of $508,452.12. 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 90 days, insiders sold 376,280 shares of company stock worth $20,714,369. 18.84% of the stock is owned by corporate insiders.

Royalty Pharma Price Performance

NASDAQ RPRX opened at $58.60 on Friday. The stock’s 50-day moving average price is $56.81 and its two-hundred day moving average price is $51.12. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.88. The company has a market cap of $33.74 billion, a PE ratio of 40.41, a PEG ratio of 1.37 and a beta of 0.43. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $60.44.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. Royalty Pharma had a net margin of 32.14% and a return on equity of 30.01%. The company had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. On average, analysts predict that Royalty Pharma PLC will post 5.3 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. Stockholders of record on Friday, August 14th will be issued a dividend of $0.235 per share. The ex-dividend date is Friday, August 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. Royalty Pharma’s payout ratio is currently 64.83%.

Analyst Ratings Changes

RPRX has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Royalty Pharma from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Royalty Pharma in a research note on Wednesday. TD Cowen increased their target price on shares of Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Bank of America restated a “buy” rating on shares of Royalty Pharma in a report on Wednesday, August 5th. Finally, Wall Street Zen lowered shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $60.86.

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.