Allspring Global Investments Holdings LLC raised its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 303.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 539,995 shares of the biopharmaceutical company's stock after acquiring an additional 406,123 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.09% of Royalty Pharma worth $13,926,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in RPRX. Blue Trust Inc. boosted its position in shares of Royalty Pharma by 31.3% during the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 376 shares during the last quarter. Aurora Investment Counsel boosted its position in Royalty Pharma by 1.0% in the third quarter. Aurora Investment Counsel now owns 50,441 shares of the biopharmaceutical company's stock worth $1,427,000 after purchasing an additional 512 shares during the last quarter. GAMMA Investing LLC boosted its position in Royalty Pharma by 31.4% in the fourth quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company's stock worth $63,000 after purchasing an additional 590 shares during the last quarter. Values First Advisors Inc. boosted its position in Royalty Pharma by 7.6% in the third quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company's stock worth $295,000 after purchasing an additional 738 shares during the last quarter. Finally, M&T Bank Corp boosted its position in Royalty Pharma by 4.3% in the third quarter. M&T Bank Corp now owns 18,749 shares of the biopharmaceutical company's stock worth $531,000 after purchasing an additional 779 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.
Royalty Pharma Stock Performance
Shares of NASDAQ:RPRX traded up $0.09 during midday trading on Friday, reaching $33.42. 4,620,587 shares of the company traded hands, compared to its average volume of 4,453,247. 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 plc has a 12 month low of $24.05 and a 12 month high of $33.69. The firm has a market capitalization of $19.69 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 2.26 and a beta of 0.49. The firm's fifty day moving average price is $29.18 and its two-hundred day moving average price is $27.93.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, equities analysts expect that Royalty Pharma plc will post 4.49 earnings per share for the current year.
Royalty Pharma Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.63%. This is a positive change from Royalty Pharma's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 21st. Royalty Pharma's payout ratio is presently 57.93%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on RPRX shares. Citigroup lowered their target price on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. Finally, TD Cowen upgraded Royalty Pharma to a "strong-buy" rating in a research note 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. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $41.60.
Read Our Latest Research Report on RPRX
Royalty Pharma Company Profile
(
Free Report)
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.
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