Goodman Advisory Group LLC Purchases New Stake in Royalty Pharma PLC $RPRX

Goodman Advisory Group LLC purchased a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 299,307 shares of the biopharmaceutical company’s stock, valued at approximately $10,560,000. Royalty Pharma makes up 2.6% of Goodman Advisory Group LLC’s investment portfolio, making the stock its 9th biggest position. Goodman Advisory Group LLC owned 0.05% of Royalty Pharma as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in shares of Royalty Pharma by 367.7% during the first quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock valued at $6,342,000 after buying an additional 160,191 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Royalty Pharma by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock worth $2,490,000 after acquiring an additional 13,489 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Royalty Pharma in the 1st quarter worth about $264,000. Intech Investment Management LLC lifted its position in Royalty Pharma by 41.0% in the 1st quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock valued at $1,494,000 after acquiring an additional 13,951 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in Royalty Pharma by 443.4% during the 2nd quarter. Assetmark Inc. now owns 3,304 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 2,696 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Insider Transactions at Royalty Pharma

In related news, EVP Marshall Urist sold 20,000 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $40.26, for a total transaction of $805,200.00. Following the sale, the executive vice president owned 20,000 shares of the company’s stock, valued at approximately $805,200. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Terrance P. Coyne sold 114,954 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $42.84, for a total value of $4,924,629.36. Following the completion of the transaction, the chief financial officer owned 23,972 shares of the company’s stock, valued at approximately $1,026,960.48. This represents a 82.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 737,078 shares of company stock valued at $29,862,002 over the last three months. Company insiders own 18.90% of the company’s stock.

Analyst Ratings Changes

RPRX has been the subject of a number of recent research reports. Wall Street Zen lowered Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. TD Cowen restated a “buy” rating on shares of Royalty Pharma in a report on Friday, February 27th. Citigroup upped their price target on Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Weiss Ratings raised Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. Finally, Leerink Partners set a $45.00 price objective on Royalty Pharma in a research note on Thursday, December 11th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $48.67.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $45.41 on Friday. The firm has a market cap of $26.20 billion, a P/E ratio of 33.64 and a beta of 0.40. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average is $42.54 and its 200-day moving average is $39.22. Royalty Pharma PLC has a 12-month low of $29.66 and a 12-month high of $47.86.

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

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th will be issued a $0.235 dividend. 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. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.1%. 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.