Elo Mutual Pension Insurance Co Trims Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Elo Mutual Pension Insurance Co reduced its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,147 shares of the biopharmaceutical company’s stock after selling 546 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Royalty Pharma were worth $900,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ballentine Partners LLC raised its stake in Royalty Pharma by 3.3% during the 1st quarter. Ballentine Partners LLC now owns 12,541 shares of the biopharmaceutical company’s stock valued at $381,000 after purchasing an additional 406 shares during the period. NEOS Investment Management LLC lifted its holdings in shares of Royalty Pharma by 5.0% in the fourth quarter. NEOS Investment Management LLC now owns 8,589 shares of the biopharmaceutical company’s stock worth $241,000 after buying an additional 409 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Royalty Pharma by 79.8% during the fourth 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 last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Royalty Pharma by 10.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,097 shares of the biopharmaceutical company’s stock valued at $276,000 after acquiring an additional 887 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in Royalty Pharma by 12.7% in the 2nd quarter. Meeder Advisory Services Inc. now owns 8,223 shares of the biopharmaceutical company’s stock valued at $217,000 after acquiring an additional 926 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $27.54 on Friday. The firm has a market capitalization of $16.34 billion, a PE ratio of 20.55, a PEG ratio of 4.17 and a beta of 0.46. The stock’s fifty day moving average is $28.00 and its 200 day moving average is $28.00. Royalty Pharma plc has a fifty-two week low of $25.20 and a fifty-two week high of $31.66. 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 (NASDAQ:RPRX) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, beating 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 business had revenue of $537.00 million for the quarter, compared to the consensus estimate of $600.83 million. During the same quarter in the prior year, the firm posted $0.85 earnings per share. On average, sell-side analysts anticipate that Royalty Pharma plc will post 4.04 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 16th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.05%. Royalty Pharma’s dividend payout ratio is 62.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RPRX. Morgan Stanley raised their price objective on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday. UBS Group cut Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price objective on the stock. in a report on Monday, June 3rd. Finally, The Goldman Sachs Group boosted their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

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.