Neo Ivy Capital Management Makes New Investment in Royalty Pharma PLC $RPRX

Neo Ivy Capital Management bought a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 22,590 shares of the biopharmaceutical company’s stock, valued at approximately $797,000.

Several other large investors have also recently made changes to their positions in the company. CWM LLC lifted its stake in Royalty Pharma by 1.5% in the 3rd quarter. CWM LLC now owns 18,591 shares of the biopharmaceutical company’s stock valued at $656,000 after buying an additional 281 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Royalty Pharma by 9.6% in the 3rd quarter. GAMMA Investing LLC now owns 3,306 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 289 shares during the last quarter. Merit Financial Group LLC increased its stake in Royalty Pharma by 3.5% during the 3rd quarter. Merit Financial Group LLC now owns 9,149 shares of the biopharmaceutical company’s stock worth $323,000 after buying an additional 306 shares in the last quarter. Wedmont Private Capital increased its stake in Royalty Pharma by 5.1% during the 3rd quarter. Wedmont Private Capital now owns 6,793 shares of the biopharmaceutical company’s stock worth $245,000 after buying an additional 331 shares in the last quarter. Finally, Xponance Inc. raised its holdings in shares of Royalty Pharma by 0.8% during the third quarter. Xponance Inc. now owns 41,254 shares of the biopharmaceutical company’s stock valued at $1,455,000 after acquiring an additional 331 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 other news, EVP Marshall Urist sold 20,000 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $41.09, for a total transaction of $821,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Terrance P. Coyne sold 34,791 shares of Royalty Pharma stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $46.78, for a total value of $1,627,522.98. Following the completion of the sale, the chief financial officer directly owned 45,761 shares of the company’s stock, valued at $2,140,699.58. The trade was a 43.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 737,078 shares of company stock valued at $29,862,002 in the last quarter. 18.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RPRX shares. Citigroup raised their target price on Royalty Pharma from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. UBS Group raised Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Friday, January 30th. Wall Street Zen lowered Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Leerink Partners set a $45.00 target price on shares of Royalty Pharma in a research note on Thursday, December 11th. Finally, Weiss Ratings raised shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 12th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $48.67.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $45.41 on Friday. The company’s 50-day moving average is $42.54 and its two-hundred day moving average is $39.22. Royalty Pharma PLC has a 1-year low of $29.66 and a 1-year high of $47.86. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.40 and a quick ratio of 2.40. The firm has a market capitalization of $26.20 billion, a price-to-earnings ratio of 33.64 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. The business had revenue of $621.99 million during the quarter, compared to analysts’ expectations of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. Analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 20th will be given a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, February 20th. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. Royalty Pharma’s dividend payout ratio is 69.63%.

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.