Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its position in Royalty Pharma plc (NASDAQ:RPRX) by 24.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,488 shares of the biopharmaceutical company’s stock after selling 48,599 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Royalty Pharma were worth $4,047,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Ballentine Partners LLC grew its holdings in shares of Royalty Pharma by 3.3% in the 1st quarter. Ballentine Partners LLC now owns 12,541 shares of the biopharmaceutical company’s stock worth $381,000 after acquiring an additional 406 shares during the period. NEOS Investment Management LLC grew its holdings in shares of Royalty Pharma by 5.0% in the 4th quarter. NEOS Investment Management LLC now owns 8,589 shares of the biopharmaceutical company’s stock worth $241,000 after acquiring an additional 409 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Royalty Pharma by 79.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,807 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 802 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in Royalty Pharma by 10.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,097 shares of the biopharmaceutical company’s stock valued at $276,000 after buying an additional 887 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Royalty Pharma by 172.5% during the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 1,037 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Trading Up 1.9 %

Shares of RPRX opened at $28.26 on Tuesday. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $16.77 billion, a P/E ratio of 21.09, a price-to-earnings-growth ratio of 4.06 and a beta of 0.46. The stock’s fifty day simple moving average is $27.85 and its 200 day simple moving average is $28.03. Royalty Pharma plc has a twelve month low of $25.20 and a twelve month high of $31.66.

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

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 16th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Friday, August 16th. Royalty Pharma’s dividend payout ratio (DPR) is presently 62.69%.

Analysts Set New Price Targets

RPRX has been the topic of a number of analyst reports. Morgan Stanley increased their target price on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. StockNews.com cut Royalty Pharma from a “buy” rating to a “hold” rating in a report on Monday, September 9th. The Goldman Sachs Group increased their target price on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, UBS Group cut Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Monday, June 3rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.00.

About Royalty Pharma

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.