Bank of New York Mellon Corp Trims Stake in Royalty Pharma plc (NASDAQ:RPRX)

Bank of New York Mellon Corp trimmed its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 1.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,493,967 shares of the biopharmaceutical company's stock after selling 20,898 shares during the period. Bank of New York Mellon Corp owned about 0.25% of Royalty Pharma worth $38,111,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RPRX. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Royalty Pharma by 48.4% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 126,550 shares of the biopharmaceutical company's stock valued at $3,228,000 after purchasing an additional 41,300 shares during the last quarter. ING Groep NV purchased a new stake in Royalty Pharma during the fourth quarter worth $2,923,000. Ieq Capital LLC increased its position in Royalty Pharma by 20.2% during the fourth quarter. Ieq Capital LLC now owns 42,815 shares of the biopharmaceutical company's stock worth $1,092,000 after buying an additional 7,184 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its stake in shares of Royalty Pharma by 564.3% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 56,464 shares of the biopharmaceutical company's stock worth $1,440,000 after purchasing an additional 47,964 shares during the period. Finally, Keene & Associates Inc. grew its stake in shares of Royalty Pharma by 1.9% during the 4th quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company's stock valued at $495,000 after buying an additional 370 shares during the period. Institutional investors and hedge funds own 54.35% of the company's stock.

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Royalty Pharma Price Performance

NASDAQ:RPRX traded down $0.29 during trading hours on Tuesday, reaching $32.46. 4,364,967 shares of the company's stock were exchanged, compared to its average volume of 2,824,864. The business's 50-day simple moving average is $31.02 and its two-hundred day simple moving average is $28.44. 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 $34.20. The company has a market capitalization of $18.71 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 2.31 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, topping 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%. Sell-side analysts expect that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were given a $0.22 dividend. This is a boost from Royalty Pharma's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Friday, February 21st. Royalty Pharma's dividend payout ratio (DPR) is 60.69%.

Analysts Set New Price Targets

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

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.