Royalty Pharma PLC $RPRX Shares Purchased by American Century Companies Inc.

American Century Companies Inc. lifted its position in Royalty Pharma PLC (NASDAQ:RPRX) by 24.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,395 shares of the biopharmaceutical company’s stock after purchasing an additional 17,894 shares during the quarter. American Century Companies Inc.’s holdings in Royalty Pharma were worth $3,329,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RPRX. Nordea Investment Management AB raised its holdings in Royalty Pharma by 603.9% in the 2nd quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock valued at $23,701,000 after buying an additional 562,799 shares during the period. Cookson Peirce & Co. Inc. increased its position in shares of Royalty Pharma by 55.1% during the second quarter. Cookson Peirce & Co. Inc. now owns 34,263 shares of the biopharmaceutical company’s stock valued at $1,234,000 after acquiring an additional 12,171 shares during the last quarter. Creative Planning raised its stake in shares of Royalty Pharma by 22.7% in the 2nd quarter. Creative Planning now owns 52,553 shares of the biopharmaceutical company’s stock valued at $1,893,000 after acquiring an additional 9,718 shares during the period. Jupiter Asset Management Ltd. raised its stake in shares of Royalty Pharma by 126.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,470,706 shares of the biopharmaceutical company’s stock valued at $89,020,000 after acquiring an additional 1,380,115 shares during the period. Finally, Monetta Financial Services Inc. acquired a new position in shares of Royalty Pharma in the 2nd quarter worth approximately $1,081,000. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Down 2.7%

Royalty Pharma stock opened at $38.67 on Tuesday. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $41.24. The stock’s fifty day simple moving average is $37.93 and its 200-day simple moving average is $36.44. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $22.32 billion, a P/E ratio of 29.30, a P/E/G ratio of 2.09 and a beta of 0.46.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.06. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%.The firm had revenue of $609.29 million during the quarter, compared to analyst estimates of $765.01 million. As a group, equities analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, November 14th. Royalty Pharma’s dividend payout ratio (DPR) is presently 66.67%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RPRX. Weiss Ratings cut shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Morgan Stanley lowered their price target on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Wall Street Zen cut Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 28th. The Goldman Sachs Group began coverage on Royalty Pharma in a research note on Tuesday, September 30th. They set a “buy” rating and a $42.00 target price on the stock. Finally, TD Cowen downgraded Royalty Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 17th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Insider Buying and Selling

In related news, CFO Terrance P. Coyne sold 69,582 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $39.87, for a total value of $2,774,234.34. Following the sale, the chief financial officer owned 47,260 shares of the company’s stock, valued at $1,884,256.20. This trade represents a 59.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marshall Urist sold 23,333 shares of Royalty Pharma stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $39.93, for a total transaction of $931,686.69. Following the completion of the transaction, the executive vice president owned 183,334 shares of the company’s stock, valued at $7,320,526.62. This represents a 11.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 565,353 shares of company stock worth $22,153,184. Company insiders own 18.90% of the company’s stock.

About Royalty Pharma

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.