Hsbc Holdings PLC Acquires 1,486,020 Shares of Royalty Pharma PLC $RPRX

Hsbc Holdings PLC lifted its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 2,562.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,544,018 shares of the biopharmaceutical company’s stock after acquiring an additional 1,486,020 shares during the quarter. Hsbc Holdings PLC owned approximately 0.27% of Royalty Pharma worth $74,000,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LM Advisors LLC acquired a new stake in Royalty Pharma during the 4th quarter valued at $26,000. Blue Trust Inc. increased its holdings in shares of Royalty Pharma by 173.4% in the first quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 437 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in shares of Royalty Pharma in the fourth quarter valued at $30,000. Private Trust Co. NA raised its position in shares of Royalty Pharma by 52.9% in the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 288 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of Royalty Pharma by 66.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 446 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RPRX has been the subject of several research analyst reports. UBS Group lifted their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Weiss Ratings cut shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. Citigroup raised their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, JPMorgan Chase & Co. upped their target price on Royalty Pharma from $50.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $56.57.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $58.18 on Monday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. The stock has a market cap of $33.50 billion, a P/E ratio of 39.58, a price-to-earnings-growth ratio of 10.30 and a beta of 0.43. The stock has a 50 day simple moving average of $55.01 and a 200 day simple moving average of $48.59. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $59.44.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The business had revenue of $630.58 million for the quarter, compared to the consensus estimate of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. On average, research analysts predict that Royalty Pharma PLC will post 5.18 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced 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. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 14th. Royalty Pharma’s dividend payout ratio is 63.95%.

Insider Buying and Selling

In related news, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were 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 owned 459,399 shares of the company’s stock, valued at $25,965,231.48. This represents a 17.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total transaction of $508,452.12. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 427,800 shares of company stock valued at $23,333,723. Company insiders own 18.84% of the company’s stock.

About Royalty Pharma

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.