Mn Services Vermogensbeheer B.V. Buys New Position in Royalty Pharma PLC $RPRX

Key Points

• Mn Services Vermogensbeheer B.V. has acquired 67,000 shares of Royalty Pharma PLC worth approximately $2.4 million in the second quarter.
• Royalty Pharma's most recent quarterly earnings report showed an EPS of $1.14, beating analysts' expectations of $1.10.
• The company announced a quarterly dividend of $0.22 per share, representing an annualized yield of 2.4%.

Mn Services Vermogensbeheer B.V. purchased a new stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 67,000 shares of the biopharmaceutical company's stock, valued at approximately $2,414,000.

Several other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in 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 acquiring an additional 2,644,923 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Royalty Pharma by 8.6% in 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 valued at $88,656,000 after acquiring an additional 226,048 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Royalty Pharma by 37.0% in the first quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company's stock valued at $80,381,000 after acquiring an additional 704,414 shares during the last quarter. Invesco Ltd. boosted its holdings in Royalty Pharma by 34.1% in the first quarter. Invesco Ltd. now owns 1,284,418 shares of the biopharmaceutical company's stock valued at $39,984,000 after acquiring an additional 326,525 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Royalty Pharma by 7.5% in the first quarter. Alliancebernstein L.P. now owns 1,241,051 shares of the biopharmaceutical company's stock valued at $38,634,000 after acquiring an additional 86,873 shares during the last quarter. Institutional investors own 54.35% of the company's stock.

Wall Street Analyst Weigh In

RPRX has been the topic of several recent research reports. Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Citigroup raised their target price on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley raised their target price on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat, Royalty Pharma has an average rating of "Buy" and an average target price of $48.00.

Royalty Pharma Stock Up 1.1%

Shares of NASDAQ:RPRX traded up $0.40 during trading on Tuesday, hitting $36.26. 1,502,125 shares of the company's stock traded hands, compared to its average volume of 4,462,568. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $38.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The company has a market cap of $21.14 billion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 2.26 and a beta of 0.58. The company has a 50-day moving average price of $36.34 and a 200-day moving average price of $34.39.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%.The business had revenue of $578.67 million for the quarter, compared to analysts' expectations of $750.06 million. As a group, research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were issued 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 payout ratio is 50.87%.

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.