Strs Ohio Invests $1.89 Million in Royalty Pharma PLC $RPRX

Key Points

• Strs Ohio has made a new investment of $1.89 million in Royalty Pharma PLC by acquiring 60,826 shares during the first quarter.
• Royalty Pharma recently announced a quarterly dividend of $0.22 per share, representing a dividend yield of 2.5% and an annualized dividend of $0.88.
• Analysts have set a consensus price target of $48.00 for Royalty Pharma, with ratings varying from "Strong Buy" to "Hold" by different financial institutions.

Strs Ohio bought a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 60,826 shares of the biopharmaceutical company's stock, valued at approximately $1,894,000.

Other hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC raised its position in shares of Royalty Pharma by 41.0% in the 1st quarter. Intech Investment Management LLC now owns 47,992 shares of the biopharmaceutical company's stock worth $1,494,000 after acquiring an additional 13,951 shares in the last quarter. Focus Partners Wealth purchased a new position in Royalty Pharma during the 1st quarter valued at about $264,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Royalty Pharma by 8.6% during the 1st 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 period. Empowered Funds LLC purchased a new position in Royalty Pharma during the 1st quarter valued at about $8,013,000. Finally, Uniplan Investment Counsel Inc. boosted its holdings in Royalty Pharma by 29.8% in the first quarter. Uniplan Investment Counsel Inc. now owns 51,838 shares of the biopharmaceutical company's stock worth $1,614,000 after acquiring an additional 11,904 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Up 1.4%

Shares of RPRX stock traded up $0.51 during trading on Friday, reaching $36.24. The company's stock had a trading volume of 13,871,713 shares, compared to its average volume of 4,569,183. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $21.13 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 2.23 and a beta of 0.58. The stock's 50-day moving average price is $36.34 and its 200 day moving average price is $34.36. Royalty Pharma PLC has a 1-year low of $24.05 and a 1-year high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, topping 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 company had revenue of $578.67 million for the quarter, compared to the consensus estimate of $750.06 million. On average, research analysts anticipate that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a dividend of $0.22 per share. The ex-dividend date was 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 50.87%.

Wall Street Analyst Weigh In

Several analysts recently commented on RPRX shares. Citigroup lifted their price objective on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Morgan Stanley boosted their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, Royalty Pharma presently has a consensus rating of "Buy" and an average price target of $48.00.

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.