Sumitomo Mitsui Trust Holdings Inc. raised its stake in Royalty Pharma plc (NASDAQ:RPRX – Free Report) by 27.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,287,830 shares of the biopharmaceutical company’s stock after acquiring an additional 279,667 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.21% of Royalty Pharma worth $46,401,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. M&T Bank Corp raised its holdings in Royalty Pharma by 2.5% in the 3rd quarter. M&T Bank Corp now owns 10,671 shares of the biopharmaceutical company’s stock valued at $428,000 after acquiring an additional 259 shares in the last quarter. Sectoral Asset Management Inc. raised its holdings in Royalty Pharma by 2.5% in the 4th quarter. Sectoral Asset Management Inc. now owns 12,440 shares of the biopharmaceutical company’s stock valued at $492,000 after acquiring an additional 300 shares in the last quarter. Argent Trust Co raised its holdings in Royalty Pharma by 3.6% in the 4th quarter. Argent Trust Co now owns 8,568 shares of the biopharmaceutical company’s stock valued at $339,000 after acquiring an additional 300 shares in the last quarter. Advisor Group Holdings Inc. raised its holdings in Royalty Pharma by 9.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,265 shares of the biopharmaceutical company’s stock valued at $151,000 after acquiring an additional 366 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Royalty Pharma by 4.7% in the 1st quarter. Sei Investments Co. now owns 8,392 shares of the biopharmaceutical company’s stock valued at $281,000 after acquiring an additional 379 shares in the last quarter. 48.06% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, CEO Pablo G. Legorreta purchased 130,000 shares of Royalty Pharma stock in a transaction on Wednesday, June 28th. The shares were purchased at an average price of $29.51 per share, for a total transaction of $3,836,300.00. Following the transaction, the chief executive officer now owns 600,000 shares of the company’s stock, valued at approximately $17,706,000. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Pablo G. Legorreta purchased 130,000 shares of Royalty Pharma stock in a transaction on Wednesday, June 28th. The shares were purchased at an average price of $29.51 per share, for a total transaction of $3,836,300.00. Following the transaction, the chief executive officer now owns 600,000 shares of the company’s stock, valued at approximately $17,706,000. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Terrance P. Coyne sold 37,500 shares of the company’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $31.07, for a total value of $1,165,125.00. Following the completion of the sale, the chief financial officer now owns 902,500 shares in the company, valued at approximately $28,040,675. The disclosure for this sale can be found here. In the last 90 days, insiders bought 485,388 shares of company stock valued at $15,543,025 and sold 1,900,622 shares valued at $62,403,628. Insiders own 18.72% of the company’s stock.
Royalty Pharma Price Performance
Royalty Pharma (NASDAQ:RPRX – Get Free Report) last issued its earnings results on Tuesday, May 9th. The biopharmaceutical company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.28. Royalty Pharma had a return on equity of 28.30% and a net margin of 14.12%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $914.72 million. Analysts anticipate that Royalty Pharma plc will post 4.15 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. TheStreet raised Royalty Pharma from a “d+” rating to a “c” rating in a report on Thursday, June 15th. Tigress Financial boosted their price target on Royalty Pharma from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Morgan Stanley boosted their price target on Royalty Pharma from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 10th. Finally, StockNews.com cut Royalty Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Royalty Pharma has a consensus rating of “Moderate Buy” and an average price target 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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