State Board of Administration of Florida Retirement System raised its position in Royalty Pharma plc (NASDAQ:RPRX – Free Report) by 0.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 302,510 shares of the biopharmaceutical company’s stock after acquiring an additional 1,300 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Royalty Pharma were worth $10,899,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. BOKF NA purchased a new position in Royalty Pharma in the first quarter worth approximately $180,000. Charles Schwab Investment Management Inc. raised its holdings in Royalty Pharma by 3.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,407,537 shares of the biopharmaceutical company’s stock worth $50,714,000 after purchasing an additional 46,358 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Royalty Pharma by 7.5% during the first quarter. Nomura Asset Management Co. Ltd. now owns 85,852 shares of the biopharmaceutical company’s stock worth $3,093,000 after purchasing an additional 6,003 shares in the last quarter. Signaturefd LLC raised its holdings in Royalty Pharma by 320.0% during the first quarter. Signaturefd LLC now owns 2,230 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 1,699 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co raised its holdings in Royalty Pharma by 4.6% during the first quarter. Elo Mutual Pension Insurance Co now owns 28,307 shares of the biopharmaceutical company’s stock worth $1,020,000 after purchasing an additional 1,235 shares in the last quarter. Hedge funds and other institutional investors own 49.03% of the company’s stock.
Analyst Ratings Changes
A number of research firms have weighed in on RPRX. StockNews.com began coverage on shares of Royalty Pharma in a report on Thursday, August 17th. They set a “hold” rating on the stock. TheStreet raised shares of Royalty Pharma from a “d+” rating to a “c” rating in a report on Thursday, June 15th. Finally, Morgan Stanley lifted their target price on shares of Royalty Pharma from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Royalty Pharma has an average rating of “Moderate Buy” and a consensus price target of $53.25.
Insider Buying and Selling at Royalty Pharma
In other news, CEO Pablo G. Legorreta acquired 130,000 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were bought at an average cost of $29.51 per share, with a total value of $3,836,300.00. Following the purchase, the chief executive officer now owns 600,000 shares of the company’s stock, valued at approximately $17,706,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Pablo G. Legorreta bought 130,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were bought at an average cost of $29.51 per share, for a total transaction of $3,836,300.00. Following the transaction, the chief executive officer now owns 600,000 shares of the company’s stock, valued at $17,706,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Terrance P. Coyne sold 37,500 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $31.07, for a total transaction of $1,165,125.00. Following the sale, the chief financial officer now owns 902,500 shares in the company, valued at $28,040,675. The disclosure for this sale can be found here. 18.72% of the stock is currently owned by corporate insiders.
Royalty Pharma Stock Performance
Shares of RPRX opened at $28.13 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.52 and a current ratio of 2.52. The stock has a market capitalization of $16.93 billion, a P/E ratio of 65.42, a P/E/G ratio of 1.46 and a beta of 0.39. The company’s fifty day moving average is $30.21 and its two-hundred day moving average is $32.63. Royalty Pharma plc has a 1 year low of $28.09 and a 1 year high of $44.47.
Royalty Pharma (NASDAQ:RPRX – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $545.00 million for the quarter, compared to analysts’ expectations of $538.52 million. Royalty Pharma had a net margin of 10.84% and a return on equity of 29.03%. On average, sell-side analysts predict that Royalty Pharma plc will post 4.18 earnings per share for the current year.
Royalty Pharma Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 18th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $0.80 annualized dividend and a yield of 2.84%. Royalty Pharma’s dividend payout ratio is currently 186.05%.
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.
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