Bridgewater Associates LP Acquires New Stake in Royalty Pharma plc (NASDAQ:RPRX)

Bridgewater Associates LP purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 49,416 shares of the biopharmaceutical company's stock, valued at approximately $1,261,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Royalty Pharma in the fourth quarter worth about $124,498,000. Swedbank AB boosted its stake in shares of Royalty Pharma by 10.3% in the fourth quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company's stock worth $310,308,000 after acquiring an additional 1,136,800 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Royalty Pharma in the fourth quarter worth approximately $19,990,000. New South Capital Management Inc. boosted its stake in shares of Royalty Pharma by 19.9% in the fourth quarter. New South Capital Management Inc. now owns 2,957,125 shares of the biopharmaceutical company's stock worth $75,436,000 after acquiring an additional 490,754 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Royalty Pharma by 32.0% in the fourth quarter. Russell Investments Group Ltd. now owns 1,855,791 shares of the biopharmaceutical company's stock worth $47,319,000 after acquiring an additional 449,551 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup reaffirmed a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $42.50.

Royalty Pharma Trading Up 1.1 %

Shares of Royalty Pharma stock traded up $0.34 during trading hours on Thursday, hitting $32.03. The company's stock had a trading volume of 856,312 shares, compared to its average volume of 3,242,425. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $18.46 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 2.31 and a beta of 0.50. The firm has a fifty day moving average of $32.54 and a 200-day moving average of $29.36. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $34.20.

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

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.75%. Royalty Pharma's payout ratio is currently 60.69%.

Royalty Pharma 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.