Kentucky Retirement Systems Invests $819,000 in Royalty Pharma PLC (NASDAQ:RPRX)

Kentucky Retirement Systems acquired a new position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,318 shares of the biopharmaceutical company's stock, valued at approximately $819,000.

Several other large investors also recently made changes to their positions in the business. Nissay Asset Management Corp Japan ADV increased its holdings in Royalty Pharma by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock valued at $1,238,000 after purchasing an additional 349 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Royalty Pharma by 21.8% in the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 371 shares in the last quarter. Sherbrooke Park Advisers LLC grew its stake in shares of Royalty Pharma by 1.1% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock valued at $890,000 after buying an additional 380 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Royalty Pharma by 0.9% in the fourth quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company's stock valued at $1,068,000 after buying an additional 388 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Royalty Pharma by 76.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 414 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of recent research reports. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Morgan Stanley assumed coverage on shares of Royalty Pharma in a report on Friday, May 16th. They set an "overweight" rating and a $51.00 price target for the company. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Royalty Pharma presently has a consensus rating of "Buy" and an average price target of $47.33.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $35.91 on Thursday. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $36.32. The business has a 50 day moving average price of $33.35 and a two-hundred day moving average price of $31.41. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68. The firm has a market cap of $20.19 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.85 and a beta of 0.48.

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

Royalty Pharma Dividend Announcement

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

About Royalty Pharma

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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