Dai ichi Life Insurance Company Ltd Purchases New Position in Royalty Pharma plc (NASDAQ:RPRX)

Dai ichi Life Insurance Company Ltd acquired a new position in shares of Royalty Pharma plc (NASDAQ:RPRX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 94,066 shares of the biopharmaceutical company’s stock, valued at approximately $2,481,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc grew its holdings in Royalty Pharma by 5,215.0% during the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 1,043 shares in the last quarter. Gladius Capital Management LP purchased a new stake in shares of Royalty Pharma in the second quarter valued at about $32,000. Fidelis Capital Partners LLC bought a new position in shares of Royalty Pharma during the first quarter valued at about $46,000. GAMMA Investing LLC boosted its holdings in Royalty Pharma by 172.5% during the first quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 1,037 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Royalty Pharma by 79.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,807 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 802 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Up 0.6 %

RPRX stock opened at $27.72 on Monday. Royalty Pharma plc has a fifty-two week low of $25.20 and a fifty-two week high of $31.66. The stock has a fifty day moving average of $27.80 and a 200-day moving average of $28.04. The company has a market capitalization of $16.45 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 4.06 and a beta of 0.46. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.35 and a current ratio of 9.35.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. The firm had revenue of $537.00 million during the quarter, compared to the consensus estimate of $600.83 million. During the same quarter last year, the company earned $0.85 earnings per share. As a group, equities research analysts predict that Royalty Pharma plc will post 4.04 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 16th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.84 dividend on an annualized basis and a yield of 3.03%. Royalty Pharma’s payout ratio is 62.69%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RPRX shares. StockNews.com downgraded Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Morgan Stanley upped their price objective on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. UBS Group lowered shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research report on Monday, June 3rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Royalty Pharma 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.