Royalty Pharma PLC $RPRX Shares Purchased by Strs Ohio

Strs Ohio lifted its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 41.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,848 shares of the biopharmaceutical company’s stock after purchasing an additional 25,022 shares during the quarter. Strs Ohio’s holdings in Royalty Pharma were worth $3,093,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RPRX. Amalgamated Bank boosted its position in shares of Royalty Pharma by 4.4% in the 1st quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company’s stock worth $636,000 after purchasing an additional 866 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Royalty Pharma by 55.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 103,862 shares of the biopharmaceutical company’s stock worth $3,233,000 after acquiring an additional 37,102 shares during the period. M&T Bank Corp lifted its position in Royalty Pharma by 23.4% during the 1st quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company’s stock worth $902,000 after acquiring an additional 5,500 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Royalty Pharma by 0.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 749,344 shares of the biopharmaceutical company’s stock worth $22,770,000 after acquiring an additional 3,057 shares during the period. Finally, Rehmann Capital Advisory Group acquired a new stake in Royalty Pharma during the 1st quarter worth about $549,000. Institutional investors and hedge funds own 54.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wall Street Zen raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup lifted their price target on Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Weiss Ratings cut Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. The Goldman Sachs Group assumed coverage on Royalty Pharma in a research report on Tuesday, September 30th. They set a “buy” rating and a $42.00 price target for the company. Finally, Morgan Stanley lowered their price target on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Royalty Pharma currently has an average rating of “Buy” and a consensus target price of $46.00.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $37.30 on Tuesday. The stock has a 50-day simple moving average of $36.22 and a two-hundred day simple moving average of $35.27. The firm has a market capitalization of $21.75 billion, a P/E ratio of 21.56, a PEG ratio of 2.06 and a beta of 0.56. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $38.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $578.67 million during the quarter, compared to analyst estimates of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. On average, equities analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. Royalty Pharma’s dividend payout ratio is presently 50.87%.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.