Korea Investment CORP Raises Stock Holdings in Royalty Pharma PLC $RPRX

Key Points

• Korea Investment CORP has increased its stake in Royalty Pharma PLC by 32.1%, acquiring a total of 296,172 shares valued at approximately $9.22 million.
• Royalty Pharma reported $1.14 EPS for its most recent quarter, exceeding analysts' expectations, despite revenue falling short of predictions at $578.67 million.
• The company has declared a quarterly dividend of $0.22, expecting an annual yield of 2.4%, with a payout ratio of 50.87%.

Korea Investment CORP increased its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 32.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 296,172 shares of the biopharmaceutical company's stock after buying an additional 71,900 shares during the quarter. Korea Investment CORP owned 0.05% of Royalty Pharma worth $9,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of RPRX. Louisbourg Investments Inc. bought a new stake in Royalty Pharma in the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB lifted its position 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 worth $30,000 after buying an additional 414 shares during the last quarter. Summit Securities Group LLC bought a new stake in Royalty Pharma in the 1st quarter worth approximately $36,000. Allworth Financial LP lifted its position in Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 452 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in Royalty Pharma in the 1st quarter worth approximately $77,000. Institutional investors own 54.35% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on RPRX. Morgan Stanley lifted their price target on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Citigroup lifted their price target on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Royalty Pharma has an average rating of "Buy" and a consensus target price of $48.00.

Royalty Pharma Trading Up 0.0%

Shares of RPRX traded up $0.01 during mid-day trading on Friday, hitting $36.32. 2,671,527 shares of the company's stock traded hands, compared to its average volume of 3,042,018. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $38.00. The firm has a market capitalization of $21.18 billion, a P/E ratio of 20.99, a PEG ratio of 2.37 and a beta of 0.55. The business's 50-day moving average price is $36.17 and its 200-day moving average price is $33.92.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) 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 firm had revenue of $578.67 million for the quarter, compared to analysts' expectations of $750.06 million. As a group, sell-side analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 15th. Royalty Pharma's dividend payout ratio is presently 50.87%.

Royalty Pharma 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.