BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 60.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 72,762 shares of the biopharmaceutical company’s stock after acquiring an additional 27,553 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Royalty Pharma were worth $1,919,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swedbank AB acquired a new stake in shares of Royalty Pharma during the 1st quarter worth about $251,461,000. New South Capital Management Inc. acquired a new stake in shares of Royalty Pharma during the first quarter valued at about $44,384,000. ADAR1 Capital Management LLC purchased a new stake in shares of Royalty Pharma in the 4th quarter valued at approximately $37,130,000. Patient Capital Management LLC acquired a new position in shares of Royalty Pharma in the 4th quarter worth approximately $35,247,000. Finally, Homestead Advisers Corp boosted its position in shares of Royalty Pharma by 40.7% during the 1st quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock worth $57,502,000 after purchasing an additional 547,000 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $28.21 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. The company has a market cap of $16.74 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 4.09 and a beta of 0.46. The stock’s 50-day moving average is $28.01 and its two-hundred day moving average is $27.91. Royalty Pharma plc has a 1-year low of $25.20 and a 1-year high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $600.83 million. During the same quarter last year, the company earned $0.85 earnings per share. Analysts forecast that Royalty Pharma plc will post 4.04 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 16th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.98%. Royalty Pharma’s payout ratio is currently 62.69%.

Analyst Upgrades and Downgrades

A number of research firms have commented on RPRX. UBS Group cut Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research note on Monday, June 3rd. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. Morgan Stanley boosted their price target on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, The Goldman Sachs Group raised their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Royalty Pharma presently has a consensus rating of “Moderate Buy” and an average price target 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.