KLP Kapitalforvaltning AS Increases Position in Royalty Pharma PLC $RPRX

Key Points

• KLP Kapitalforvaltning AS increased its stake in Royalty Pharma PLC by 6.7%, now owning 131,600 shares valued at approximately $4.74 million.
• Royalty Pharma's recent quarterly earnings beat analyst expectations, reporting $1.14 per share compared to the consensus estimate of $1.10, with a net margin of 44.23%.
• The company declared a quarterly dividend of $0.22 per share, reflecting an annualized dividend yield of 2.4%.

KLP Kapitalforvaltning AS increased its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,600 shares of the biopharmaceutical company's stock after buying an additional 8,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Royalty Pharma were worth $4,742,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new stake in Royalty Pharma in the second quarter valued at $32,000. Louisbourg Investments Inc. purchased a new stake in Royalty Pharma in the first quarter valued at $28,000. Summit Securities Group LLC purchased a new stake in Royalty Pharma in the first quarter valued at $36,000. WPG Advisers LLC purchased a new stake in Royalty Pharma in the first quarter valued at $39,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Royalty Pharma by 42.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 402 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Trading Down 0.4%

Shares of Royalty Pharma stock opened at $36.01 on Friday. The firm has a 50-day simple moving average of $36.18 and a two-hundred day simple moving average of $34.63. The company has a market cap of $21.00 billion, a P/E ratio of 20.82, a price-to-earnings-growth ratio of 2.28 and a beta of 0.60. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $38.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The business had revenue of $578.67 million during the quarter, compared to the consensus estimate of $750.06 million. As a group, equities analysts predict 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 Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, August 15th. Royalty Pharma's dividend payout ratio is 50.87%.

Analysts Set New Price Targets

Several research firms have commented on RPRX. Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. The Goldman Sachs Group began coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They issued a "buy" rating and a $42.00 price target on the stock. Citigroup upped their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Morgan Stanley decreased their price objective 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. Finally, Weiss Ratings upgraded shares of Royalty Pharma from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $46.00.

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.

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