Korea Investment CORP Has $6.66 Million Holdings in Royalty Pharma PLC $RPRX

Korea Investment CORP raised its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 39.5% during the 3rd quarter, according to the company in its most recent 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 quarter. Korea Investment CORP’s holdings in Royalty Pharma were worth $6,660,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in Royalty Pharma by 868.1% during the third 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 in the last quarter. Financial Consulate Inc. purchased a new stake in Royalty Pharma in the 3rd quarter worth approximately $35,000. Richardson Financial Services Inc. acquired a new stake in shares of Royalty Pharma during the 3rd quarter valued at $54,000. Farther Finance Advisors LLC boosted its stake in shares of Royalty Pharma by 44.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,060 shares of the biopharmaceutical company’s stock valued at $73,000 after buying an additional 632 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of Royalty Pharma by 16.9% during the 3rd quarter. Fifth Third Bancorp now owns 2,499 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 362 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Marshall Urist sold 20,000 shares of the company’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Terrance P. Coyne sold 34,791 shares of the firm’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 completion of the transaction, the chief financial officer owned 45,761 shares in the company, valued at $2,140,699.58. The trade was a 43.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 737,078 shares of company stock valued at $29,862,002 over the last 90 days. 18.90% of the stock is owned by corporate insiders.

Royalty Pharma Stock Performance

RPRX opened at $45.87 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.40 and a current ratio of 2.40. The company has a market cap of $26.46 billion, a PE ratio of 33.98 and a beta of 0.40. The stock has a 50-day moving average of $43.12 and a 200-day moving average of $39.47. Royalty Pharma PLC has a 52-week low of $29.66 and a 52-week high of $47.86.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data 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. Royalty Pharma had a return on equity of 28.21% and a net margin of 32.38%.The business had revenue of $621.99 million for the quarter, compared to the consensus estimate of $839.97 million. As a group, equities research analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.