Royalty Pharma PLC $RPRX Shares Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Royalty Pharma PLC by 14.8%, acquiring an additional 8,453 shares, bringing its total holdings to 65,661 shares.
• Royalty Pharma recently declared a quarterly dividend of $0.22 per share, resulting in an annualized dividend yield of 2.4%.
• Analysts have given Royalty Pharma a consensus rating of "Buy", with target prices ranging from $40.00 to $54.00.

OMERS ADMINISTRATION Corp lifted its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,661 shares of the biopharmaceutical company's stock after acquiring an additional 8,453 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Royalty Pharma were worth $2,044,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Applied Finance Capital Management LLC lifted its stake in Royalty Pharma by 3.0% in the 1st quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock valued at $351,000 after buying an additional 329 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake 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 buying an additional 349 shares in the last quarter. Sherbrooke Park Advisers LLC lifted its stake in Royalty Pharma by 1.1% in the 4th 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. MassMutual Private Wealth & Trust FSB lifted its stake in Royalty Pharma by 76.4% in the 1st 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. Finally, Allworth Financial LP lifted its stake in Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 452 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Trading Up 0.6%

Shares of NASDAQ RPRX traded up $0.22 during midday trading on Friday, reaching $37.12. 1,898,477 shares of the stock were exchanged, compared to its average volume of 4,279,582. The company has a 50 day simple moving average of $36.34 and a 200 day simple moving average of $34.16. The stock has a market capitalization of $21.64 billion, a P/E ratio of 21.46, a PEG ratio of 2.39 and a beta of 0.58. 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 PLC has a twelve month low of $24.05 and a twelve month high of $38.00.

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

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, August 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. Royalty Pharma's dividend payout ratio (DPR) is currently 50.87%.

Analyst Ratings Changes

A number of research analysts recently weighed in on RPRX shares. Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Citigroup raised their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley raised their price target on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $48.00.

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.