California Public Employees Retirement System Reduces Holdings in Royalty Pharma plc (NASDAQ:RPRX)

California Public Employees Retirement System reduced its position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,781,024 shares of the biopharmaceutical company's stock after selling 22,198 shares during the quarter. California Public Employees Retirement System owned about 0.30% of Royalty Pharma worth $45,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RPRX. Norges Bank acquired a new position in shares of Royalty Pharma during the fourth quarter valued at about $124,498,000. Swedbank AB lifted its position in Royalty Pharma by 10.3% in the 4th quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company's stock valued at $310,308,000 after acquiring an additional 1,136,800 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Royalty Pharma by 44.7% during the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company's stock valued at $85,809,000 after purchasing an additional 936,900 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Royalty Pharma during the 4th quarter worth approximately $19,990,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Royalty Pharma in the third quarter worth approximately $14,898,000. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock traded down $0.08 during trading hours on Monday, hitting $31.03. 5,739,607 shares of the company's stock traded hands, compared to its average volume of 3,183,916. The stock has a market capitalization of $17.89 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.31 and a beta of 0.50. Royalty Pharma plc has a 12-month low of $24.05 and a 12-month high of $34.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The company has a fifty day simple moving average of $32.50 and a 200-day simple moving average of $28.99.

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

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were paid a dividend of $0.22 per share. The ex-dividend date was Friday, February 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.84%. This is a positive change from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's dividend payout ratio (DPR) is presently 60.69%.

Wall Street Analysts Forecast Growth

RPRX has been the subject of several recent research reports. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. TD Cowen upgraded shares of 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Royalty Pharma currently has an average rating of "Buy" and an average target price of $41.60.

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.