Elo Mutual Pension Insurance Co Raises Position in Royalty Pharma plc (NASDAQ:RPRX)

Elo Mutual Pension Insurance Co raised its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 32.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,225 shares of the biopharmaceutical company's stock after purchasing an additional 11,089 shares during the period. Elo Mutual Pension Insurance Co's holdings in Royalty Pharma were worth $1,154,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Cerity Partners LLC raised its position in shares of Royalty Pharma by 11.1% during the third quarter. Cerity Partners LLC now owns 32,896 shares of the biopharmaceutical company's stock worth $931,000 after purchasing an additional 3,291 shares during the period. Bank of Montreal Can raised its holdings in Royalty Pharma by 186.0% during the third quarter. Bank of Montreal Can now owns 445,937 shares of the biopharmaceutical company's stock worth $12,580,000 after buying an additional 290,019 shares during the last quarter. D.A. Davidson & CO. bought a new position in shares of Royalty Pharma in the third quarter valued at $1,300,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Royalty Pharma by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,972,201 shares of the biopharmaceutical company's stock valued at $84,084,000 after buying an additional 174,874 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. increased its position in shares of Royalty Pharma by 7.4% during the third quarter. Northwest & Ethical Investments L.P. now owns 27,746 shares of the biopharmaceutical company's stock worth $785,000 after acquiring an additional 1,913 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

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Wall Street Analyst Weigh In

RPRX has been the topic of several recent research reports. TD Cowen raised shares of Royalty Pharma to a "strong-buy" rating in a research report on Tuesday, December 24th. Citigroup restated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. One investment 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $41.60.

Royalty Pharma Stock Down 2.1 %

NASDAQ:RPRX traded down $0.68 on Friday, hitting $31.11. The stock had a trading volume of 7,264,512 shares, compared to its average volume of 3,172,952. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $34.20. The firm's fifty day simple moving average is $32.52 and its two-hundred day simple moving average is $28.96. 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 $17.93 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results 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%. Analysts predict that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The firm also recently announced 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.83%. This is a boost from Royalty Pharma's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, February 21st. Royalty Pharma's payout ratio is presently 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.