AGF Management Ltd. Buys Shares of 98,512 Royalty Pharma plc (NASDAQ:RPRX)

AGF Management Ltd. bought a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 98,512 shares of the biopharmaceutical company's stock, valued at approximately $2,513,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Keene & Associates Inc. raised its holdings in Royalty Pharma by 1.9% in the fourth quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company's stock valued at $495,000 after acquiring an additional 370 shares in the last quarter. Blue Trust Inc. increased its position in shares of Royalty Pharma by 31.3% in the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 376 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Royalty Pharma by 0.9% in the 4th quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company's stock worth $1,068,000 after purchasing an additional 388 shares during the last quarter. Aurora Investment Counsel raised its stake in shares of Royalty Pharma by 1.0% in the 3rd quarter. Aurora Investment Counsel now owns 50,441 shares of the biopharmaceutical company's stock valued at $1,427,000 after purchasing an additional 512 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in shares of Royalty Pharma by 0.5% during the fourth quarter. Arizona State Retirement System now owns 110,637 shares of the biopharmaceutical company's stock worth $2,822,000 after purchasing an additional 537 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Separately, TD Cowen raised Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $41.60.

Royalty Pharma Stock Performance

RPRX stock traded up $0.25 during trading on Monday, hitting $33.02. 2,286,214 shares of the company's stock traded hands, compared to its average volume of 2,825,641. The stock has a market capitalization of $19.03 billion, a price-to-earnings ratio of 22.77, a price-to-earnings-growth ratio of 2.31 and a beta of 0.47. Royalty Pharma plc has a 52 week low of $24.05 and a 52 week high of $34.20. The stock has a fifty day moving average price of $31.58 and a two-hundred day moving average price of $28.56. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, equities analysts anticipate that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were issued a dividend of $0.22 per share. The ex-dividend date was Friday, February 21st. This is a positive change from Royalty Pharma's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.67%. Royalty Pharma's dividend payout ratio is 60.69%.

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.