Korea Investment CORP Has $5.72 Million Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Korea Investment CORP raised its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 43.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,272 shares of the biopharmaceutical company's stock after purchasing an additional 68,300 shares during the quarter. Korea Investment CORP's holdings in Royalty Pharma were worth $5,721,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cerity Partners LLC lifted its holdings in Royalty Pharma by 11.1% in the third quarter. Cerity Partners LLC now owns 32,896 shares of the biopharmaceutical company's stock valued at $931,000 after acquiring an additional 3,291 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Royalty Pharma by 186.0% during the 3rd quarter. Bank of Montreal Can now owns 445,937 shares of the biopharmaceutical company's stock worth $12,580,000 after purchasing an additional 290,019 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Royalty Pharma by 6.3% in the 3rd 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 period. Verition Fund Management LLC lifted its position in Royalty Pharma by 39.7% in the third quarter. Verition Fund Management LLC now owns 27,869 shares of the biopharmaceutical company's stock valued at $788,000 after buying an additional 7,919 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC purchased a new position in Royalty Pharma during the third quarter worth about $2,030,000. Hedge funds and other institutional investors own 54.35% of the company's stock.

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Royalty Pharma Stock Down 2.1 %

NASDAQ:RPRX traded down $0.68 during mid-day trading on Friday, reaching $31.11. The stock had a trading volume of 7,264,512 shares, compared to its average volume of 3,173,692. The stock's 50 day simple moving average is $32.52 and its two-hundred day simple moving average is $28.97. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $34.20. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44.

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

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were issued a $0.22 dividend. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Friday, February 21st. Royalty Pharma's payout ratio is presently 60.69%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. TD Cowen upgraded Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average 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.