Kentucky Retirement Systems Insurance Trust Fund Buys New Stake in Royalty Pharma PLC (NASDAQ:RPRX)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,210 shares of the biopharmaceutical company's stock, valued at approximately $349,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Adage Capital Partners GP L.L.C. increased its holdings in shares of Royalty Pharma by 42.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock worth $432,862,000 after purchasing an additional 5,069,127 shares during the last quarter. Norges Bank purchased a new position in Royalty Pharma during the 4th quarter valued at approximately $124,498,000. BNP Paribas Financial Markets bought a new stake in Royalty Pharma in the 4th quarter worth approximately $41,959,000. AQR Capital Management LLC increased its stake in Royalty Pharma by 187.0% in the 4th quarter. AQR Capital Management LLC now owns 1,903,676 shares of the biopharmaceutical company's stock worth $48,563,000 after acquiring an additional 1,240,384 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Royalty Pharma during the 1st quarter worth approximately $31,591,000. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Price Performance

Shares of Royalty Pharma stock opened at $35.91 on Thursday. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 1.85 and a beta of 0.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a 50 day moving average price of $33.35 and a 200-day moving average price of $31.41. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $36.32.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. The company had revenue of $839.00 million during the quarter, compared to analyst estimates of $724.69 million. Equities analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.88 annualized dividend and a yield of 2.45%. Royalty Pharma's payout ratio is 47.57%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RPRX shares. Morgan Stanley started coverage on shares of Royalty Pharma in a report on Friday, May 16th. They issued an "overweight" rating and a $51.00 target price for the company. Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. Finally, Wall Street Zen upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Royalty Pharma presently has a consensus rating of "Buy" and an average target price of $47.33.

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.

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