Supplemental Annuity Collective Trust of NJ Makes New $478,000 Investment in Royalty Pharma plc (NASDAQ:RPRX)

Supplemental Annuity Collective Trust of NJ purchased a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX) during the fourth quarter, Holdings Channel.com reports. The fund purchased 17,000 shares of the biopharmaceutical company’s stock, valued at approximately $478,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in shares of Royalty Pharma by 9.3% during the third quarter. Victory Capital Management Inc. now owns 338,890 shares of the biopharmaceutical company’s stock worth $9,197,000 after acquiring an additional 28,851 shares in the last quarter. Korea Investment CORP grew its position in shares of Royalty Pharma by 498.0% during the 3rd quarter. Korea Investment CORP now owns 226,653 shares of the biopharmaceutical company’s stock valued at $6,151,000 after purchasing an additional 188,754 shares in the last quarter. Synovus Financial Corp lifted its holdings in shares of Royalty Pharma by 26.0% during the 3rd quarter. Synovus Financial Corp now owns 119,741 shares of the biopharmaceutical company’s stock worth $3,250,000 after acquiring an additional 24,721 shares during the last quarter. Northern Trust Corp lifted its position in Royalty Pharma by 9.4% in the 3rd quarter. Northern Trust Corp now owns 2,597,949 shares of the biopharmaceutical company’s stock worth $70,508,000 after buying an additional 224,261 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its stake in Royalty Pharma by 43.9% in the third quarter. Dark Forest Capital Management LP now owns 66,710 shares of the biopharmaceutical company’s stock worth $1,811,000 after buying an additional 20,361 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RPRX shares. Bank of America cut their price objective on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, April 12th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. decreased their price target on Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group cut their target price on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $46.75.

Royalty Pharma Trading Down 0.4 %

NASDAQ RPRX traded down $0.11 during trading on Friday, hitting $28.00. The company had a trading volume of 1,358,520 shares, compared to its average volume of 2,670,692. The company’s fifty day moving average is $29.65 and its 200-day moving average is $28.54. The company has a market cap of $16.73 billion, a price-to-earnings ratio of 14.87 and a beta of 0.45. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61. Royalty Pharma plc has a one year low of $25.92 and a one year high of $35.76.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. The company had revenue of $736.00 million during the quarter, compared to the consensus estimate of $702.90 million. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. On average, sell-side analysts predict that Royalty Pharma plc will post 3.95 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 3.00%. Royalty Pharma’s payout ratio is 44.44%.

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.