AQR Capital Management LLC Purchases 320,606 Shares of Royalty Pharma plc (NASDAQ:RPRX)

AQR Capital Management LLC raised its position in Royalty Pharma plc (NASDAQ:RPRX) by 69.0% during the second quarter, Holdings Channel.com reports. The fund owned 785,567 shares of the biopharmaceutical company’s stock after purchasing an additional 320,606 shares during the quarter. AQR Capital Management LLC’s holdings in Royalty Pharma were worth $20,715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RPRX. Toronto Dominion Bank raised its holdings in shares of Royalty Pharma by 5.2% during the second quarter. Toronto Dominion Bank now owns 43,714 shares of the biopharmaceutical company’s stock valued at $1,153,000 after acquiring an additional 2,172 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Royalty Pharma by 60.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 72,762 shares of the biopharmaceutical company’s stock valued at $1,919,000 after acquiring an additional 27,553 shares in the last quarter. Xponance Inc. increased its position in Royalty Pharma by 1.9% during the 2nd quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock valued at $836,000 after purchasing an additional 606 shares during the period. Evergreen Capital Management LLC raised its holdings in Royalty Pharma by 19.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 298,317 shares of the biopharmaceutical company’s stock worth $7,867,000 after purchasing an additional 49,284 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Royalty Pharma by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 655 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Price Performance

RPRX stock opened at $28.29 on Tuesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.35 and a current ratio of 9.35. The firm has a 50 day moving average price of $28.00 and a 200-day moving average price of $27.89. Royalty Pharma plc has a 52-week low of $25.20 and a 52-week high of $31.66. The firm has a market capitalization of $16.79 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 4.09 and a beta of 0.46.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. The business had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $600.83 million. During the same quarter in the previous year, the business earned $0.85 earnings per share. Equities research analysts forecast that Royalty Pharma plc will post 4.04 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 16th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Friday, August 16th. Royalty Pharma’s dividend payout ratio (DPR) is 62.69%.

Analysts Set New Price Targets

RPRX has been the topic of several research analyst reports. Morgan Stanley boosted their price target on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. UBS Group cut Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a research note on Monday, June 3rd. Finally, The Goldman Sachs Group upped their price target on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Royalty Pharma presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Royalty Pharma Company 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.