AQR Capital Management LLC Acquires 704,414 Shares of Royalty Pharma PLC $RPRX

Key Points

• AQR Capital Management LLC increased its stake in Royalty Pharma by 37.0%, owning a total of 2,608,090 shares, valued at approximately $80.4 million.
• Royalty Pharma announced a quarterly dividend of $0.22, representing an annualized yield of 2.4% and a payout ratio of 50.87%.
• Analysts have upgraded Royalty Pharma to a consensus rating of “Buy”, with target prices ranging from $42.00 to $54.00.

AQR Capital Management LLC lifted its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 37.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,608,090 shares of the biopharmaceutical company's stock after purchasing an additional 704,414 shares during the period. AQR Capital Management LLC owned about 0.45% of Royalty Pharma worth $80,381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RPRX. Federation des caisses Desjardins du Quebec increased its position in shares of Royalty Pharma by 1.7% in the first quarter. Federation des caisses Desjardins du Quebec now owns 77,431 shares of the biopharmaceutical company's stock worth $2,412,000 after acquiring an additional 1,282 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in Royalty Pharma in the first quarter worth approximately $242,000. Royal Bank of Canada raised its holdings in shares of Royalty Pharma by 367.7% during the 1st quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company's stock valued at $6,342,000 after purchasing an additional 160,191 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Royalty Pharma in the first quarter worth about $557,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Royalty Pharma in the first quarter worth $5,027,000. 54.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on RPRX. Morgan Stanley upped their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Finally, Citigroup upped their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $48.00.

Royalty Pharma Stock Up 1.4%

Shares of RPRX stock traded up $0.52 during trading on Thursday, reaching $36.70. The company's stock had a trading volume of 3,664,330 shares, compared to its average volume of 3,705,996. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. The business has a fifty day moving average price of $36.36 and a 200-day moving average price of $34.27. The company has a market cap of $21.40 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 2.26 and a beta of 0.58. Royalty Pharma PLC has a one year low of $24.05 and a one year 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 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $578.67 million during the quarter, compared to analysts' expectations of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. Analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, August 15th. Royalty Pharma's dividend payout ratio (DPR) 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.