Royalty Pharma PLC $RPRX Shares Bought by Korea Investment CORP

Korea Investment CORP increased its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 39.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,772 shares of the biopharmaceutical company’s stock after acquiring an additional 53,500 shares during the period. Korea Investment CORP’s holdings in Royalty Pharma were worth $6,660,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Blair William & Co. IL lifted its position in Royalty Pharma by 6.8% in the third quarter. Blair William & Co. IL now owns 7,263 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 462 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Royalty Pharma during the 3rd quarter valued at $797,000. Aptus Capital Advisors LLC increased its position in shares of Royalty Pharma by 31.4% during the 3rd quarter. Aptus Capital Advisors LLC now owns 14,083 shares of the biopharmaceutical company’s stock valued at $497,000 after purchasing an additional 3,369 shares during the period. Barclays PLC raised its stake in shares of Royalty Pharma by 62.8% in the 3rd quarter. Barclays PLC now owns 552,559 shares of the biopharmaceutical company’s stock worth $19,494,000 after buying an additional 213,197 shares in the last quarter. Finally, Orion Porfolio Solutions LLC raised its stake in shares of Royalty Pharma by 23.9% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 17,870 shares of the biopharmaceutical company’s stock worth $630,000 after buying an additional 3,450 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Weiss Ratings raised Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 12th. Morgan Stanley reiterated an “overweight” rating and issued a $61.00 price target on shares of Royalty Pharma in a research report on Thursday, February 12th. UBS Group upgraded shares of Royalty Pharma from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Friday, January 30th. Citigroup lifted their price objective on shares of Royalty Pharma from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Royalty Pharma in a report on Thursday, February 12th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $48.67.

Insider Buying and Selling

In other Royalty Pharma news, EVP Marshall Urist sold 20,000 shares of Royalty Pharma stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $41.09, for a total transaction of $821,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Terrance P. Coyne sold 34,791 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $46.78, for a total transaction of $1,627,522.98. Following the sale, the chief financial officer directly owned 45,761 shares in the company, valued at approximately $2,140,699.58. This trade represents a 43.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 737,078 shares of company stock worth $29,862,002 in the last 90 days. 18.90% of the stock is owned by company insiders.

Royalty Pharma Stock Down 1.8%

Shares of Royalty Pharma stock opened at $45.87 on Friday. Royalty Pharma PLC has a 12-month low of $29.66 and a 12-month high of $47.86. The firm has a market capitalization of $26.46 billion, a PE ratio of 33.98 and a beta of 0.40. The company has a quick ratio of 2.40, a current ratio of 2.40 and a debt-to-equity ratio of 0.88. The stock’s fifty day moving average is $43.12 and its 200-day moving average is $39.47.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, February 11th. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The business had revenue of $621.99 million during the quarter, compared to analyst estimates of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. Equities analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Friday, February 20th were given a $0.235 dividend. This represents a $0.94 annualized dividend and a dividend yield of 2.0%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, February 20th. Royalty Pharma’s payout ratio is 69.63%.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.