Sumitomo Mitsui Trust Group Inc. Raises Position in Royalty Pharma PLC $RPRX

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 15.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,268,044 shares of the biopharmaceutical company’s stock after acquiring an additional 166,403 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Royalty Pharma were worth $48,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Capital International Investors boosted its stake in shares of Royalty Pharma by 24.4% during the 3rd quarter. Capital International Investors now owns 27,212,694 shares of the biopharmaceutical company’s stock worth $960,064,000 after acquiring an additional 5,332,074 shares during the last quarter. Swedbank AB raised its position in shares of Royalty Pharma by 0.4% during the 3rd quarter. Swedbank AB now owns 12,200,270 shares of the biopharmaceutical company’s stock valued at $430,426,000 after purchasing an additional 42,800 shares during the period. State Street Corp raised its position in shares of Royalty Pharma by 0.8% during the 3rd quarter. State Street Corp now owns 10,272,753 shares of the biopharmaceutical company’s stock valued at $362,423,000 after purchasing an additional 77,815 shares during the period. Victory Capital Management Inc. raised its position in shares of 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 valued at $164,313,000 after purchasing an additional 165,727 shares during the period. Finally, Northern Trust Corp raised its position in shares of Royalty Pharma by 1.3% during the 3rd quarter. Northern Trust Corp now owns 4,075,239 shares of the biopharmaceutical company’s stock valued at $143,774,000 after purchasing an additional 53,389 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Insiders Place Their Bets

In other Royalty Pharma news, CFO Terrance P. Coyne sold 34,791 shares of Royalty Pharma stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $48.33, for a total value of $1,681,449.03. Following the completion of the transaction, the chief financial officer directly owned 32,916 shares of the company’s stock, valued at $1,590,830.28. This trade represents a 51.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 20,000 shares of Royalty Pharma 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 477,496 shares of company stock worth $20,408,425. 18.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RPRX has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. Citigroup raised their price objective on shares of Royalty Pharma from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. The Goldman Sachs Group restated a “buy” rating on shares of Royalty Pharma in a research report on Thursday, February 12th. Morgan Stanley raised their price objective on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. Finally, Wall Street Zen downgraded shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $49.00.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX opened at $48.70 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.40 and a current ratio of 2.40. The company has a market cap of $28.09 billion, a P/E ratio of 36.07, a P/E/G ratio of 3.12 and a beta of 0.39. The firm’s fifty day moving average is $46.26 and its two-hundred day moving average is $41.36. Royalty Pharma PLC has a 52-week low of $31.58 and a 52-week high of $49.06.

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

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.