Thrivent Financial for Lutherans Raises Position in Royalty Pharma PLC $RPRX

Thrivent Financial for Lutherans grew its position in Royalty Pharma PLC (NASDAQ:RPRX) by 10.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 233,320 shares of the biopharmaceutical company’s stock after purchasing an additional 22,015 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Royalty Pharma were worth $9,016,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RPRX. Smartleaf Asset Management LLC raised its holdings in Royalty Pharma by 868.1% in the third quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 790 shares during the last quarter. Private Trust Co. NA raised its holdings in Royalty Pharma by 52.9% in the fourth quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 288 shares during the last quarter. Larson Financial Group LLC raised its holdings in Royalty Pharma by 31.9% in the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 306 shares during the last quarter. Fifth Third Bancorp raised its holdings in Royalty Pharma by 16.9% in the third quarter. Fifth Third Bancorp now owns 2,499 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 362 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Royalty Pharma in the third quarter worth about $100,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $52.41 on Wednesday. The company has a 50 day moving average price of $48.58 and a 200-day moving average price of $43.61. Royalty Pharma PLC has a 52 week low of $32.15 and a 52 week high of $53.47. The firm has a market capitalization of $30.18 billion, a PE ratio of 35.65, a P/E/G ratio of 1.43 and a beta of 0.40. 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 earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. The company had revenue of $631.00 million during the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. As a group, equities research analysts expect that Royalty Pharma PLC will post 5.05 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors 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 1.8%. The ex-dividend date is Friday, May 15th. Royalty Pharma’s payout ratio is 63.95%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RPRX. UBS Group lifted their target price on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Citigroup lifted their price target on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Finally, Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $53.71.

Insider Activity at Royalty Pharma

In related news, CFO Terrance P. Coyne sold 34,791 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $49.78, for a total transaction of $1,731,895.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 that occurred on Thursday, May 14th. The shares were sold at an average price of $53.06, for a total transaction of $726,073.04. Following the sale, the executive vice president owned 31,881 shares of the company’s stock, valued at $1,691,605.86. This trade represents a 30.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 155,893 shares of company stock worth $7,512,360. 18.84% of the stock is owned by company 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.