Elo Mutual Pension Insurance Co Purchases 13,856 Shares of Royalty Pharma PLC $RPRX

Elo Mutual Pension Insurance Co lifted its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 57.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,984 shares of the biopharmaceutical company’s stock after acquiring an additional 13,856 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Royalty Pharma were worth $1,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RPRX. Norges Bank acquired a new position in Royalty Pharma in the 2nd quarter worth about $181,388,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Royalty Pharma by 118.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,976,480 shares of the biopharmaceutical company’s stock valued at $107,243,000 after buying an additional 1,615,706 shares during the period. Amundi raised its holdings in Royalty Pharma by 126.1% in the 2nd quarter. Amundi now owns 2,797,471 shares of the biopharmaceutical company’s stock valued at $101,240,000 after buying an additional 1,560,093 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in Royalty Pharma by 126.5% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 2,470,706 shares of the biopharmaceutical company’s stock valued at $89,020,000 after buying an additional 1,380,115 shares during the last quarter. Finally, State Street Corp boosted its position in Royalty Pharma by 7.1% during the 2nd quarter. State Street Corp now owns 10,194,938 shares of the biopharmaceutical company’s stock worth $367,324,000 after buying an additional 678,810 shares during the period. Institutional investors own 54.35% of the company’s stock.

Analyst Ratings Changes

RPRX has been the subject of several recent research reports. TD Cowen restated a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. The Goldman Sachs Group restated a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. Weiss Ratings raised Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 12th. Morgan Stanley reiterated an “overweight” rating and issued a $61.00 price target on shares of Royalty Pharma in a research report on Thursday, February 12th. Finally, Leerink Partners set a $45.00 price target on Royalty Pharma in a research note on Thursday, December 11th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $48.67.

Royalty Pharma Price Performance

RPRX stock opened at $45.68 on Friday. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.88. The firm has a market cap of $26.35 billion, a price-to-earnings ratio of 33.84 and a beta of 0.40. The company’s fifty day simple moving average is $42.41 and its 200 day simple moving average is $39.13. Royalty Pharma PLC has a 12-month low of $29.66 and a 12-month high of $47.86.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. The firm had revenue of $621.99 million during the quarter, compared to the consensus estimate of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. On average, analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 20th will be issued a $0.235 dividend. The ex-dividend date is Friday, February 20th. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 2.1%. Royalty Pharma’s dividend payout ratio is presently 69.63%.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, CFO Terrance P. Coyne sold 114,954 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $42.84, for a total transaction of $4,924,629.36. Following the transaction, the chief financial officer directly owned 23,972 shares in the company, valued at approximately $1,026,960.48. This represents a 82.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP George W. Lloyd sold 79,346 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $38.57, for a total transaction of $3,060,375.22. Following the sale, the executive vice president directly owned 30,654 shares of the company’s stock, valued at approximately $1,182,324.78. This trade represents a 72.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 737,078 shares of company stock valued at $29,862,002. 18.90% of the stock is currently owned by company insiders.

Royalty Pharma Company Profile

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.