Geode Capital Management LLC Buys 46,765 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Geode Capital Management LLC increased its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,312,551 shares of the biopharmaceutical company's stock after buying an additional 46,765 shares during the period. Geode Capital Management LLC owned about 1.24% of Royalty Pharma worth $186,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swedbank AB boosted its position in Royalty Pharma by 10.3% during 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. State Street Corp raised its stake in shares of Royalty Pharma by 0.3% in the 3rd quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company's stock valued at $269,215,000 after acquiring an additional 29,451 shares during the period. Norges Bank acquired a new position in Royalty Pharma during the 4th quarter worth approximately $124,498,000. Charles Schwab Investment Management Inc. lifted its position in shares of Royalty Pharma by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company's stock worth $79,888,000 after purchasing an additional 130,025 shares in the last quarter. Finally, New South Capital Management Inc. increased its position in shares of Royalty Pharma by 19.9% during 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. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

RPRX stock traded up $0.74 on Friday, hitting $31.95. 5,897,307 shares of the company's stock traded hands, compared to its average volume of 3,242,342. The stock has a market cap of $18.42 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 2.31 and a beta of 0.50. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $34.20. The stock has a fifty day moving average of $32.50 and a 200-day moving average of $29.14. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results 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, analysts forecast that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RPRX shares. TD Cowen upgraded Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. Citigroup reissued a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Royalty Pharma presently has a consensus rating of "Buy" and an average target price of $41.60.

About Royalty Pharma

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.