Public Employees Retirement System of Ohio Has $6.57 Million Stock Holdings in Royalty Pharma PLC $RPRX

Public Employees Retirement System of Ohio trimmed its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,011 shares of the biopharmaceutical company’s stock after selling 10,515 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Royalty Pharma were worth $6,572,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Phillips Wealth Planners LLC raised its stake in shares of Royalty Pharma by 1.9% during the 4th quarter. Phillips Wealth Planners LLC now owns 13,113 shares of the biopharmaceutical company’s stock worth $521,000 after purchasing an additional 242 shares in the last quarter. Strs Ohio grew its stake in shares of Royalty Pharma by 2.8% in the fourth quarter. Strs Ohio now owns 9,318 shares of the biopharmaceutical company’s stock valued at $360,000 after buying an additional 252 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Royalty Pharma by 0.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 43,287 shares of the biopharmaceutical company’s stock valued at $1,673,000 after buying an additional 255 shares in the last quarter. Cary Street Partners Financial LLC increased its holdings in Royalty Pharma by 1.1% during the fourth quarter. Cary Street Partners Financial LLC now owns 24,405 shares of the biopharmaceutical company’s stock worth $943,000 after buying an additional 260 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in Royalty Pharma by 34.7% during the first quarter. Bessemer Group Inc. now owns 1,094 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 282 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Insider Activity at Royalty Pharma

In related news, EVP Christopher Hite sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $56.52, for a total value of $5,652,000.00. Following the transaction, the executive vice president owned 459,399 shares in the company, valued at approximately $25,965,231.48. This represents a 17.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $53.00, for a total transaction of $161,385.00. Following the sale, the director owned 191,803 shares of the company’s stock, valued at $10,165,559. This trade represents a 1.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 393,009 shares of company stock worth $21,601,827. 18.84% of the stock is currently owned by corporate insiders.

Royalty Pharma Stock Up 2.1%

RPRX opened at $59.97 on Wednesday. The stock’s fifty day simple moving average is $55.88 and its 200 day simple moving average is $49.54. Royalty Pharma PLC has a 1-year low of $34.08 and a 1-year high of $60.08. The stock has a market cap of $34.53 billion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 10.40 and a beta of 0.43. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.86.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. The firm had revenue of $630.58 million during the quarter, compared to analysts’ expectations of $881.69 million. As a group, research analysts expect that Royalty Pharma PLC will post 5.18 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.235 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, August 14th. Royalty Pharma’s dividend payout ratio (DPR) is currently 63.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RPRX. Morgan Stanley increased their price target on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. Wall Street Zen upgraded shares of Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings cut shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 15th. TD Cowen raised their target price on shares of Royalty Pharma from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, Citigroup lifted their price target on Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $56.57.

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.