State of New Jersey Common Pension Fund D Increases Stock Holdings in Royalty Pharma PLC $RPRX

State of New Jersey Common Pension Fund D raised its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 145,155 shares of the biopharmaceutical company’s stock after purchasing an additional 13,963 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Royalty Pharma were worth $5,609,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in shares of Royalty Pharma by 868.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 790 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Royalty Pharma by 52.9% in the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Financial Consulate Inc. purchased a new position in shares of Royalty Pharma in the 3rd quarter valued at approximately $35,000. Larson Financial Group LLC grew its stake in shares of Royalty Pharma by 31.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 306 shares during the last quarter. Finally, Richardson Financial Services Inc. purchased a new position in shares of Royalty Pharma in the 3rd quarter valued at approximately $54,000. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RPRX has been the topic of several analyst reports. Citigroup lifted their target price on Royalty Pharma from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. TD Cowen reiterated a “buy” rating on shares of Royalty Pharma in a research note on Friday, February 27th. UBS Group lifted their target price on Royalty Pharma from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Wall Street Zen downgraded Royalty Pharma from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Royalty Pharma in a research note on Thursday, February 12th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Royalty Pharma presently has an average rating of “Buy” and a consensus target price of $50.33.

Insider Transactions at Royalty Pharma

In related news, CFO Terrance P. Coyne sold 114,954 shares of Royalty Pharma stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $42.84, for a total transaction of $4,924,629.36. Following the completion of the transaction, the chief financial officer directly owned 23,972 shares of the company’s stock, valued at approximately $1,026,960.48. The trade was a 82.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 274,281 shares of company stock worth $12,422,388 over the last ninety days. Insiders own 18.84% of the company’s stock.

Royalty Pharma Price Performance

Royalty Pharma stock opened at $49.47 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.40 and a quick ratio of 2.40. Royalty Pharma PLC has a 1-year low of $31.97 and a 1-year high of $50.47. The company has a market cap of $28.54 billion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 3.16 and a beta of 0.40. The stock’s 50 day moving average price is $47.31 and its 200 day moving average price is $42.45.

Royalty Pharma (NASDAQ:RPRX) last posted 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 firm had revenue of $621.99 million for the quarter, compared to the consensus estimate of $839.97 million. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%. On average, sell-side analysts predict that Royalty Pharma PLC will post 5.08 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be issued a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.94 annualized dividend and a yield of 1.9%. Royalty Pharma’s payout ratio is currently 69.63%.

Royalty Pharma Company Profile

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.