Police & Firemen s Retirement System of New Jersey Purchases 2,425 Shares of Royalty Pharma PLC $RPRX

Police & Firemen s Retirement System of New Jersey raised its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 4.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,291 shares of the biopharmaceutical company’s stock after purchasing an additional 2,425 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Royalty Pharma were worth $2,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. USA Financial Formulas purchased a new position in shares of Royalty Pharma during the 2nd quarter valued at about $32,000. Summit Securities Group LLC bought a new position in Royalty Pharma during the first quarter valued at approximately $36,000. WPG Advisers LLC purchased a new position in shares of Royalty Pharma during the first quarter worth approximately $39,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Royalty Pharma by 42.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 402 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Royalty Pharma by 113.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,428 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 760 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Royalty Pharma news, CFO Terrance P. Coyne sold 69,594 shares of Royalty Pharma stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $39.30, for a total transaction of $2,735,044.20. Following the sale, the chief financial officer directly owned 54,760 shares of the company’s stock, valued at approximately $2,152,068. The trade was a 55.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on RPRX. Morgan Stanley lowered their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Weiss Ratings lowered Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. TD Cowen lowered Royalty Pharma from a “strong-buy” rating to a “hold” rating in a research report on Monday. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Finally, The Goldman Sachs Group began coverage on Royalty Pharma in a research note on Tuesday, September 30th. They set a “buy” rating and a $42.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.00.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $38.65 on Thursday. The firm has a market capitalization of $22.31 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 2.08 and a beta of 0.56. The stock has a fifty day moving average of $36.96 and a 200 day moving average of $35.83. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $41.24. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.89.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.06. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. The business had revenue of $609.29 million for the quarter, compared to the consensus estimate of $765.01 million. As a group, research analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, November 14th. Royalty Pharma’s dividend payout ratio is presently 66.67%.

About Royalty Pharma

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.