KLP Kapitalforvaltning AS Invests $3.15 Million in Royalty Pharma plc (NASDAQ:RPRX)

KLP Kapitalforvaltning AS purchased a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 123,300 shares of the biopharmaceutical company's stock, valued at approximately $3,145,000.

Several other hedge funds have also recently made changes to their positions in RPRX. Brooklyn Investment Group boosted its holdings in shares of Royalty Pharma by 1,006.9% in the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 876 shares during the last quarter. Allworth Financial LP raised its stake in Royalty Pharma by 417.6% during the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 877 shares during the period. Riverview Trust Co lifted its stake in shares of Royalty Pharma by 3,953.3% during the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 1,186 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Royalty Pharma by 187.1% in the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock worth $39,000 after buying an additional 997 shares during the period. Finally, Rakuten Securities Inc. boosted its stake in shares of Royalty Pharma by 160.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock worth $42,000 after acquiring an additional 1,003 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

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Royalty Pharma Stock Down 0.9 %

NASDAQ RPRX traded down $0.28 on Friday, hitting $31.37. The stock had a trading volume of 4,077,104 shares, compared to its average volume of 3,103,202. The stock has a market cap of $18.08 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.31 and a beta of 0.47. 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 business's fifty day moving average price is $32.44 and its 200 day moving average price is $28.86. Royalty Pharma plc has a 52-week low of $24.05 and a 52-week high of $34.20.

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

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, February 21st. This is a positive change from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's dividend payout ratio is currently 60.69%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RPRX shares. TD Cowen raised shares of Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. Citigroup restated a "buy" rating on shares of Royalty Pharma in a report on Friday. One equities research 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. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price 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.