Royalty Pharma PLC $RPRX Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,155 shares of the biopharmaceutical company’s stock after purchasing an additional 13,963 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Royalty Pharma were worth $5,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Trust Co. NA raised its position in shares of Royalty Pharma by 52.9% during the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 288 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Royalty Pharma by 868.1% during the third quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 790 shares in the last quarter. Financial Consulate Inc. acquired a new stake in Royalty Pharma during the third quarter worth approximately $35,000. Larson Financial Group LLC raised its holdings in Royalty Pharma by 31.9% during the third quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 306 shares in the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in Royalty Pharma during the third quarter worth approximately $54,000. Institutional investors and hedge funds own 54.35% of the company’s stock.

Insiders Place Their Bets

In other Royalty Pharma news, CFO Terrance P. Coyne sold 34,791 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $49.78, for a total value of $1,731,895.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 274,281 shares of company stock valued at $12,422,388 in the last three months. 18.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings raised shares of Royalty Pharma from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. The Goldman Sachs Group reissued a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. Wall Street Zen cut shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. UBS Group raised their price objective on shares of Royalty Pharma from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, Citigroup raised their price objective on shares of Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $50.33.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $49.47 on Monday. The company has a current ratio of 2.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.88. Royalty Pharma PLC has a twelve month low of $31.97 and a twelve month high of $50.47. The stock has a 50 day moving average of $47.31 and a two-hundred day moving average of $42.45. The stock has a market cap of $28.54 billion, a P/E ratio of 36.64, a P/E/G ratio of 3.16 and a beta of 0.40.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%.The company had revenue of $621.99 million during the quarter, compared to analysts’ expectations of $839.97 million. On average, research analysts forecast that Royalty Pharma PLC will post 5.08 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be paid a $0.235 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.94 dividend on an annualized basis and a yield of 1.9%. Royalty Pharma’s payout ratio is currently 69.63%.

Royalty Pharma 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.