HighTower Advisors LLC lowered its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX – Get Rating) by 5.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 158,953 shares of the biopharmaceutical company’s stock after selling 8,848 shares during the period. HighTower Advisors LLC’s holdings in Royalty Pharma were worth $6,290,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of RPRX. Envestnet Asset Management Inc. raised its stake in shares of Royalty Pharma by 34.3% during the first quarter. Envestnet Asset Management Inc. now owns 8,524 shares of the biopharmaceutical company’s stock valued at $332,000 after acquiring an additional 2,176 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Royalty Pharma by 9.4% during the first quarter. Advisor Group Holdings Inc. now owns 4,265 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 366 shares during the last quarter. US Bancorp DE raised its stake in Royalty Pharma by 48.1% during the first quarter. US Bancorp DE now owns 11,105 shares of the biopharmaceutical company’s stock worth $433,000 after buying an additional 3,608 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Royalty Pharma by 54.5% during the first quarter. PNC Financial Services Group Inc. now owns 3,423 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 1,208 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Royalty Pharma by 644.1% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,759 shares of the biopharmaceutical company’s stock worth $224,000 after buying an additional 4,985 shares during the last quarter. Institutional investors own 55.36% of the company’s stock.
Insider Activity
In other Royalty Pharma news, CEO Pablo G. Legorreta acquired 160,388 shares of Royalty Pharma stock in a transaction dated Tuesday, May 16th. The stock was purchased at an average cost of $33.57 per share, for a total transaction of $5,384,225.16. Following the completion of the acquisition, the chief executive officer now directly owns 160,388 shares of the company’s stock, valued at $5,384,225.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Pablo G. Legorreta acquired 160,388 shares of Royalty Pharma stock in a transaction on Tuesday, May 16th. The stock was acquired at an average cost of $33.57 per share, with a total value of $5,384,225.16. Following the transaction, the chief executive officer now owns 160,388 shares of the company’s stock, valued at approximately $5,384,225.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rory B. Riggs sold 9,926 shares of the company’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $36.95, for a total transaction of $366,765.70. Following the completion of the sale, the director now directly owns 1,586,786 shares of the company’s stock, valued at $58,631,742.70. The disclosure for this sale can be found here. Insiders sold 133,259 shares of company stock worth $4,943,087 over the last three months. 24.86% of the stock is currently owned by insiders.
Royalty Pharma Trading Up 2.7 %
Royalty Pharma (NASDAQ:RPRX – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The biopharmaceutical company reported $1.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.56. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Royalty Pharma had a net margin of 14.12% and a return on equity of 28.30%. Analysts predict that Royalty Pharma plc will post 4.17 EPS for the current fiscal year.
Royalty Pharma Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, May 19th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Thursday, May 18th. Royalty Pharma’s dividend payout ratio is currently 145.45%.
Analyst Upgrades and Downgrades
RPRX has been the subject of a number of analyst reports. StockNews.com downgraded shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Tigress Financial lifted their target price on shares of Royalty Pharma from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. UBS Group lowered their target price on shares of Royalty Pharma from $51.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, February 16th. TheStreet downgraded shares of Royalty Pharma from a “c-” rating to a “d+” rating in a research note on Tuesday, February 21st. Finally, Morgan Stanley lifted their price target on shares of Royalty Pharma from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, April 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.
Royalty Pharma Profile
Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.
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