Asset Management One Co. Ltd. Grows Stock Holdings in Royalty Pharma PLC $RPRX

Asset Management One Co. Ltd. lifted its position in Royalty Pharma PLC (NASDAQ:RPRX) by 39.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 230,431 shares of the biopharmaceutical company’s stock after purchasing an additional 65,500 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Royalty Pharma were worth $8,302,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of RPRX. Victory Capital Management Inc. raised its position in shares of Royalty Pharma by 270.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company’s stock valued at $112,788,000 after buying an additional 2,644,923 shares during the period. Los Angeles Capital Management LLC raised its position in shares of Royalty Pharma by 2,543.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,081,128 shares of the biopharmaceutical company’s stock valued at $33,656,000 after buying an additional 1,040,234 shares during the period. Jupiter Asset Management Ltd. raised its position in shares of Royalty Pharma by 462.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,090,591 shares of the biopharmaceutical company’s stock valued at $33,950,000 after buying an additional 896,555 shares during the period. Nuveen LLC purchased a new stake in shares of Royalty Pharma during the 1st quarter valued at approximately $27,749,000. Finally, AQR Capital Management LLC raised its position in shares of Royalty Pharma by 37.0% during the 1st quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company’s stock valued at $80,381,000 after buying an additional 704,414 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Ratings Changes

RPRX has been the topic of several analyst reports. Wall Street Zen lowered shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday. The Goldman Sachs Group initiated coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 target price for the company. Morgan Stanley dropped their target price on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Finally, Citigroup lifted their target price 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. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $46.00.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $37.26 on Tuesday. The company has a fifty day simple moving average of $36.15 and a two-hundred day simple moving average of $35.08. The company has a market cap of $21.73 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 2.05 and a beta of 0.60. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $38.00.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $578.67 million during the quarter, compared to the consensus estimate of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. As a group, equities analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be paid a $0.22 dividend. The ex-dividend date is Friday, November 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. Royalty Pharma’s payout ratio is 50.87%.

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.