Entropy Technologies LP Lowers Holdings in Royalty Pharma PLC $RPRX

Entropy Technologies LP reduced its position in Royalty Pharma PLC (NASDAQ:RPRX) by 79.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,625 shares of the biopharmaceutical company’s stock after selling 70,027 shares during the quarter. Entropy Technologies LP’s holdings in Royalty Pharma were worth $893,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of RPRX. Morgan Stanley raised its position in Royalty Pharma by 25.2% during the 4th quarter. Morgan Stanley now owns 55,274,069 shares of the biopharmaceutical company’s stock worth $2,135,790,000 after buying an additional 11,110,115 shares during the last quarter. Capital International Investors boosted its holdings in shares of Royalty Pharma by 14.3% in the fourth quarter. Capital International Investors now owns 31,104,309 shares of the biopharmaceutical company’s stock valued at $1,201,870,000 after acquiring an additional 3,891,615 shares in the last quarter. State Street Corp boosted its holdings in shares of Royalty Pharma by 3.7% in the fourth quarter. State Street Corp now owns 10,649,641 shares of the biopharmaceutical company’s stock valued at $411,502,000 after acquiring an additional 376,888 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Royalty Pharma by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock worth $297,465,000 after acquiring an additional 102,430 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Royalty Pharma by 9.7% during the fourth quarter. Victory Capital Management Inc. now owns 5,106,905 shares of the biopharmaceutical company’s stock worth $197,331,000 after acquiring an additional 449,498 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $59.97 on Wednesday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $60.08. The stock has a market cap of $34.53 billion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 10.40 and a beta of 0.43. The firm’s fifty day simple moving average is $55.88 and its 200-day simple moving average is $49.54.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The firm had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. Analysts expect that Royalty Pharma PLC will post 5.18 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma’s dividend payout ratio is presently 63.95%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. TD Cowen boosted their target price on Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. increased their target price on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Morgan Stanley lifted their price target on Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $56.57.

Insider Activity at Royalty Pharma

In other Royalty Pharma news, EVP Christopher Hite sold 150,000 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $54.40, for a total value of $8,160,000.00. Following the completion of the transaction, the executive vice president directly owned 559,399 shares of the company’s stock, valued at approximately $30,431,305.60. This trade represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Terrance P. Coyne sold 64,399 shares of Royalty Pharma stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.98, for a total transaction of $3,476,258.02. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 393,009 shares of company stock valued at $21,601,827. 18.84% of the stock is currently owned by corporate insiders.

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.