Forsta AP Fonden Increases Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Forsta AP Fonden lifted its position in Royalty Pharma plc (NASDAQ:RPRX) by 138.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,900 shares of the biopharmaceutical company’s stock after buying an additional 137,100 shares during the quarter. Forsta AP Fonden’s holdings in Royalty Pharma were worth $6,221,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB purchased a new stake in Royalty Pharma in the first quarter valued at approximately $251,461,000. Norges Bank purchased a new stake in Royalty Pharma in the fourth quarter valued at approximately $119,740,000. New South Capital Management Inc. purchased a new stake in Royalty Pharma in the first quarter valued at approximately $44,384,000. ADAR1 Capital Management LLC purchased a new stake in Royalty Pharma in the fourth quarter valued at approximately $37,130,000. Finally, Patient Capital Management LLC purchased a new stake in Royalty Pharma in the fourth quarter valued at approximately $35,247,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Up 0.6 %

Shares of Royalty Pharma stock opened at $27.72 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.35 and a current ratio of 9.35. Royalty Pharma plc has a 52-week low of $25.20 and a 52-week high of $31.66. The stock has a market capitalization of $16.56 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 4.10 and a beta of 0.46. The company’s 50 day moving average price is $27.80 and its 200-day moving average price is $28.06.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. The firm had revenue of $537.00 million for the quarter, compared to analysts’ expectations of $600.83 million. During the same quarter last year, the business earned $0.85 earnings per share. Equities research analysts forecast that Royalty Pharma plc will post 4.04 EPS for the current year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 16th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Friday, August 16th. Royalty Pharma’s dividend payout ratio is 62.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RPRX shares. The Goldman Sachs Group raised their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Morgan Stanley lifted their price target on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. UBS Group downgraded shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research note on Monday, June 3rd. Finally, StockNews.com downgraded shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

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.