Royalty Pharma PLC $RPRX Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,630 shares of the biopharmaceutical company’s stock after buying an additional 832 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Royalty Pharma were worth $1,536,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in RPRX. Merit Financial Group LLC acquired a new stake in Royalty Pharma during the first quarter valued at approximately $252,000. M&T Bank Corp increased its stake in shares of 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 purchasing an additional 5,500 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Royalty Pharma in the 1st quarter valued at $275,000. Asset Management One Co. Ltd. grew its position in Royalty Pharma by 8.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company’s stock worth $5,134,000 after purchasing an additional 12,148 shares during the last quarter. Finally, Amalgamated Bank grew its position in 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 during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RPRX. Morgan Stanley boosted their price target on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Citigroup boosted their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen cut shares of Royalty Pharma from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat, Royalty Pharma presently has a consensus rating of “Buy” and a consensus target price of $48.00.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $36.24 on Monday. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $38.00. The company’s 50-day moving average is $36.34 and its 200 day moving average is $34.37. The company has a market capitalization of $21.13 billion, a P/E ratio of 20.95, a price-to-earnings-growth ratio of 2.26 and a beta of 0.58. 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 announced its earnings results 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. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The business had revenue of $578.67 million for the quarter, compared to the consensus estimate of $750.06 million. On average, equities research analysts forecast 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 was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, August 15th. Royalty Pharma’s payout ratio is currently 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.