Royalty Pharma PLC $RPRX Stock Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. lifted its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 59.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,936 shares of the biopharmaceutical company’s stock after buying an additional 17,886 shares during the period. Machina Capital S.A.S.’s holdings in Royalty Pharma were worth $2,798,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Royalty Pharma by 29.0% during the 1st quarter. Bank of America Corp DE now owns 3,495,846 shares of the biopharmaceutical company’s stock valued at $167,696,000 after buying an additional 786,921 shares in the last quarter. Amundi lifted its holdings in shares of Royalty Pharma by 15.3% in the 1st quarter. Amundi now owns 3,088,773 shares of the biopharmaceutical company’s stock valued at $148,168,000 after acquiring an additional 409,394 shares during the last quarter. Dorsey Asset Management LLC lifted its holdings in shares of Royalty Pharma by 0.8% in the 1st quarter. Dorsey Asset Management LLC now owns 2,276,570 shares of the biopharmaceutical company’s stock valued at $109,207,000 after acquiring an additional 17,101 shares during the last quarter. Hsbc Holdings PLC grew its position in Royalty Pharma by 2,562.2% in the first quarter. Hsbc Holdings PLC now owns 1,544,018 shares of the biopharmaceutical company’s stock worth $74,000,000 after acquiring an additional 1,486,020 shares in the last quarter. Finally, Swiss National Bank grew its position in Royalty Pharma by 5.8% in the first quarter. Swiss National Bank now owns 1,191,100 shares of the biopharmaceutical company’s stock worth $57,137,000 after acquiring an additional 65,700 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Trading Up 0.8%

RPRX stock opened at $70.01 on Thursday. Royalty Pharma PLC has a twelve month low of $37.31 and a twelve month high of $70.27. The stock has a market capitalization of $40.26 billion, a price-to-earnings ratio of 58.34, a price-to-earnings-growth ratio of 1.37 and a beta of 0.37. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.77. The firm’s fifty day simple moving average is $61.29 and its two-hundred day simple moving average is $54.25.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be paid a dividend of $0.2350 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.3%. Royalty Pharma’s payout ratio is currently 78.33%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RPRX. Bank of America reissued a “buy” rating on shares of Royalty Pharma in a research note on Wednesday, August 5th. Morgan Stanley upped their price objective on Royalty Pharma from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Wall Street Zen lowered Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 26th. TD Cowen lifted their target price on Royalty Pharma from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. lifted their target price on Royalty Pharma from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $63.29.

Insider Transactions at Royalty Pharma

In related news, EVP Marshall Urist sold 4,126 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $57.10, for a total transaction of $235,594.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Christopher Hite sold 100,000 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $58.53, for a total transaction of $5,853,000.00. Following the completion of the sale, the executive vice president directly owned 270,401 shares in the company, valued at $15,826,570.53. This trade represents a 27.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 208,252 shares of company stock valued at $12,324,407. 18.84% of the stock is owned by corporate insiders.

Royalty Pharma Company Profile

Royalty Pharma plc is a biopharmaceutical royalty company that provides funding to companies and inventors in exchange for royalty interests in medicines. It acquires existing royalties and helps finance drug development and commercialization through royalty-based transactions and other forms of funding. The company’s portfolio includes royalty interests in medicines across a range of therapeutic areas, spanning both approved treatments and products in development. Royalty Pharma generally earns revenue when these medicines are sold; it does not operate as a conventional drug manufacturer or commercialize medicines itself.