Goodman Advisory Group LLC Has $7.99 Million Holdings in Royalty Pharma PLC $RPRX

Goodman Advisory Group LLC lessened its position in Royalty Pharma PLC (NASDAQ:RPRX) by 40.8% in the 1st quarter, Holdings Channel reports. The fund owned 166,598 shares of the biopharmaceutical company’s stock after selling 114,596 shares during the period. Royalty Pharma makes up approximately 2.1% of Goodman Advisory Group LLC’s investment portfolio, making the stock its 17th biggest holding. Goodman Advisory Group LLC’s holdings in Royalty Pharma were worth $7,992,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RPRX. Royal Bank of Canada raised its stake in Royalty Pharma by 367.7% during the 1st quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company’s stock valued at $6,342,000 after purchasing an additional 160,191 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Royalty Pharma by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock valued at $2,490,000 after buying an additional 13,489 shares in the last quarter. Focus Partners Wealth acquired a new position in Royalty Pharma during the first quarter valued at $264,000. Intech Investment Management LLC raised its position in Royalty Pharma by 41.0% during the first quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company’s stock valued at $1,494,000 after buying an additional 13,951 shares during the period. Finally, Invesco Ltd. lifted its stake in Royalty Pharma by 21.4% in the 2nd quarter. Invesco Ltd. now owns 1,559,378 shares of the biopharmaceutical company’s stock worth $56,184,000 after acquiring an additional 274,960 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $56.23 on Friday. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86. Royalty Pharma PLC has a 1 year low of $34.08 and a 1 year high of $56.50. The business has a fifty day simple moving average of $52.81 and a 200 day simple moving average of $46.59. The firm has a market cap of $32.38 billion, a price-to-earnings ratio of 38.25, a P/E/G ratio of 1.55 and a beta of 0.43.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a return on equity of 29.25% and a net margin of 33.88%.The firm had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. As a group, sell-side analysts predict that Royalty Pharma PLC will post 5.05 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a dividend of $0.235 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.7%. Royalty Pharma’s dividend payout ratio (DPR) is 63.95%.

Wall Street Analyst Weigh In

A number of brokerages have commented on RPRX. Citigroup raised their price objective on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings downgraded Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. UBS Group increased their price target on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Royalty Pharma has an average rating of “Buy” and an average target price of $53.71.

Insider Transactions at Royalty Pharma

In related news, EVP Marshall Urist sold 9,098 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $55.18, for a total value of $502,027.64. Following the transaction, the executive vice president owned 9,099 shares in the company, valued at approximately $502,082.82. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $53.00, for a total value of $161,385.00. Following the completion of the transaction, the director owned 191,803 shares in the company, valued at $10,165,559. This represents a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 323,492 shares of company stock valued at $17,160,920 over the last 90 days. Company insiders own 18.84% of the company’s stock.

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.