Los Angeles Capital Management LLC reduced its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 89.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,894 shares of the biopharmaceutical company's stock after selling 346,803 shares during the quarter. Los Angeles Capital Management LLC's holdings in Royalty Pharma were worth $1,043,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Swedbank AB raised its position in shares of Royalty Pharma by 10.3% during the 4th quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company's stock worth $310,308,000 after buying an additional 1,136,800 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Royalty Pharma by 58.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company's stock valued at $84,915,000 after acquiring an additional 1,103,341 shares during the period. Two Sigma Advisers LP raised its holdings in Royalty Pharma by 44.7% during the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company's stock worth $85,809,000 after purchasing an additional 936,900 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Royalty Pharma in the third quarter worth approximately $14,898,000. Finally, Geode Capital Management LLC boosted its stake in Royalty Pharma by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company's stock valued at $205,562,000 after purchasing an additional 417,490 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on RPRX. TD Cowen raised Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. StockNews.com raised Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. 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. Based on data from MarketBeat.com, Royalty Pharma presently has a consensus rating of "Buy" and a consensus target price of $41.60.
Get Our Latest Stock Report on RPRX
Royalty Pharma Price Performance
Shares of NASDAQ RPRX traded up $0.22 during trading on Monday, hitting $33.86. The company had a trading volume of 2,796,805 shares, compared to its average volume of 4,504,943. The company has a market cap of $19.52 billion, a P/E ratio of 23.35, a PEG ratio of 2.31 and a beta of 0.49. 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 business's 50-day moving average is $30.23 and its 200 day moving average is $28.24. 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 earnings results 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 return on equity of 24.40% and a net margin of 37.94%. Equities research analysts predict that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.
Royalty Pharma Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, February 21st. This is a positive change from Royalty Pharma's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.60%. Royalty Pharma's dividend payout ratio is currently 60.69%.
About Royalty Pharma
(
Free Report)
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.
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