Public Employees Retirement System of Ohio Takes $7.84 Million Position in Royalty Pharma PLC $RPRX

Public Employees Retirement System of Ohio purchased a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) in the second quarter, Holdings Channel reports. The firm purchased 139,790 shares of the biopharmaceutical company’s stock, valued at approximately $7,838,000.

A number of other hedge funds have also bought and sold shares of the business. LM Advisors LLC purchased a new position in Royalty Pharma in the fourth quarter worth $26,000. Lloyd Advisory Services LLC. purchased a new stake in shares of Royalty Pharma during the 4th quarter valued at $30,000. Blue Trust Inc. increased its position in shares of Royalty Pharma by 173.4% during the 1st quarter. Blue Trust Inc. now owns 689 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 437 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Royalty Pharma by 66.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,118 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 446 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Royalty Pharma by 31.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 306 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Insider Activity at Royalty Pharma

In other news, EVP Christopher Hite sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $59.97, for a total value of $5,997,000.00. Following the sale, the executive vice president owned 370,401 shares of the company’s stock, valued at $22,212,947.97. The trade was a 21.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 9,099 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $55.88, for a total transaction of $508,452.12. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 398,197 shares of company stock worth $22,513,280. Insiders own 18.84% of the company’s stock.

Royalty Pharma Stock Up 1.5%

Shares of NASDAQ RPRX opened at $62.32 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.80 and a quick ratio of 2.80. The stock has a market capitalization of $35.83 billion, a PE ratio of 42.98, a P/E/G ratio of 1.43 and a beta of 0.43. Royalty Pharma PLC has a one year low of $34.08 and a one year high of $62.58. The business’s fifty day moving average price is $58.46 and its 200-day moving average price is $52.75.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, August 5th. The biopharmaceutical company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.05. Royalty Pharma had a return on equity of 30.01% and a net margin of 32.14%.The company had revenue of $674.14 million during the quarter, compared to analyst estimates of $758.93 million. On average, equities research analysts anticipate that Royalty Pharma PLC will post 5.3 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a $0.235 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.94 annualized dividend and a dividend yield of 1.5%. Royalty Pharma’s dividend payout ratio (DPR) is presently 64.83%.

Analyst Upgrades and Downgrades

RPRX has been the subject of several research reports. Wall Street Zen lowered shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research report on Sunday. TD Cowen lifted their price objective on shares of Royalty Pharma from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. boosted their target price on shares of Royalty Pharma from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Citigroup boosted their target price on shares of Royalty Pharma from $50.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $66.00 target price on shares of Royalty Pharma in a research report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Royalty Pharma presently has an average rating of “Buy” and an average price target of $60.86.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.