Royalty Pharma PLC $RPRX Shares Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 35.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,650 shares of the biopharmaceutical company’s stock after purchasing an additional 31,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Royalty Pharma were worth $4,275,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its stake in shares of Royalty Pharma by 270.4% in the first quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company’s stock valued at $112,788,000 after purchasing an additional 2,644,923 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Royalty Pharma by 8.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,847,934 shares of the biopharmaceutical company’s stock worth $88,656,000 after acquiring an additional 226,048 shares during the last quarter. AQR Capital Management LLC raised its position in Royalty Pharma by 37.0% during the first quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company’s stock worth $80,381,000 after acquiring an additional 704,414 shares during the last quarter. Invesco Ltd. raised its position in Royalty Pharma by 34.1% during the first quarter. Invesco Ltd. now owns 1,284,418 shares of the biopharmaceutical company’s stock worth $39,984,000 after acquiring an additional 326,525 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Royalty Pharma by 7.5% during the first quarter. Alliancebernstein L.P. now owns 1,241,051 shares of the biopharmaceutical company’s stock worth $38,634,000 after acquiring an additional 86,873 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $36.94 on Friday. The firm has a 50 day simple moving average of $36.17 and a 200-day simple moving average of $35.16. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $21.54 billion, a PE ratio of 21.35, a P/E/G ratio of 2.01 and a beta of 0.60. Royalty Pharma PLC has a 1-year low of $24.05 and a 1-year high of $38.00.

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

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, November 14th. Royalty Pharma’s payout ratio is currently 50.87%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. The Goldman Sachs Group assumed coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They set a “buy” rating and a $42.00 target price for the company. Weiss Ratings cut shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Morgan Stanley cut their target price on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research 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 stock a “buy” rating in a research 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $46.00.

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.