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 position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the 1st 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 large investors also recently made changes to their positions in the company. Louisbourg Investments Inc. acquired a new stake in shares of Royalty Pharma in the 1st quarter valued at $28,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of 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 during the period. Summit Securities Group LLC acquired a new stake in shares of Royalty Pharma in the 1st quarter valued at $36,000. WPG Advisers LLC acquired a new stake in shares of Royalty Pharma in the 1st quarter valued at $39,000. Finally, Allworth Financial LP increased its stake in shares of 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 during the period. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Up 0.8%

RPRX stock opened at $35.42 on Wednesday. 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 stock has a market capitalization of $20.66 billion, a P/E ratio of 20.47, a P/E/G ratio of 2.20 and a beta of 0.58. The business has a 50-day moving average of $36.35 and a 200-day moving average of $34.32. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $578.67 million during the quarter, compared to analysts' expectations of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. On average, sell-side analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently disclosed 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. This represents a $0.88 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, August 15th. Royalty Pharma's dividend payout ratio is currently 50.87%.

Analysts Set New Price Targets

RPRX has been the subject of several research reports. Citigroup lifted their target price on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Morgan Stanley lifted their target price on 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 stock. Based on data from MarketBeat, Royalty Pharma currently has an average rating of "Buy" and a consensus price target of $48.00.

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.

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