Brandywine Global Investment Management LLC Has $61.02 Million Position in Royalty Pharma PLC $RPRX

Brandywine Global Investment Management LLC grew its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,579,252 shares of the biopharmaceutical company’s stock after acquiring an additional 62,931 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Royalty Pharma were worth $61,022,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital International Investors grew its holdings in Royalty Pharma by 14.3% during 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 purchasing an additional 3,891,615 shares during the period. State Street Corp raised its holdings in Royalty Pharma by 0.8% in the third quarter. State Street Corp now owns 10,272,753 shares of the biopharmaceutical company’s stock worth $362,423,000 after purchasing an additional 77,815 shares during the period. Geode Capital Management LLC raised its holdings in Royalty Pharma by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 7,719,843 shares of the biopharmaceutical company’s stock worth $297,465,000 after purchasing an additional 102,430 shares during the period. Victory Capital Management Inc. raised its stake in Royalty Pharma by 3.7% during the 3rd quarter. Victory Capital Management Inc. now owns 4,657,407 shares of the biopharmaceutical company’s stock worth $164,313,000 after buying an additional 165,727 shares during the period. Finally, Northern Trust Corp grew its stake in Royalty Pharma by 1.3% in the third quarter. Northern Trust Corp now owns 4,075,239 shares of the biopharmaceutical company’s stock valued at $143,774,000 after acquiring an additional 53,389 shares during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

RPRX stock opened at $55.87 on Monday. The company has a market cap of $32.17 billion, a price-to-earnings ratio of 38.01, a P/E/G ratio of 1.54 and a beta of 0.43. Royalty Pharma PLC has a twelve month low of $33.37 and a twelve month high of $56.07. The business has a 50 day moving average price of $50.81 and a two-hundred day moving average price of $45.05. 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 (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. The company had revenue of $630.58 million for the quarter, compared to analysts’ expectations of $881.69 million. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%. Analysts anticipate that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be given a dividend of $0.235 per share. This represents a $0.94 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 15th. Royalty Pharma’s dividend payout ratio is 63.95%.

Analysts Set New Price Targets

RPRX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. Citigroup boosted their price objective on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. TD Cowen reaffirmed a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. Finally, Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $53.71.

Insiders Place Their Bets

In other news, Director Gregory Norden sold 3,045 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.00, for a total transaction of $161,385.00. Following the transaction, the director directly owned 191,803 shares in the company, valued at $10,165,559. The trade was a 1.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $52.75, for a total transaction of $721,831.00. Following the transaction, the executive vice president owned 18,197 shares in the company, valued at $959,891.75. This represents a 42.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 199,185 shares of company stock valued at $10,082,926. 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.