Keene & Associates Inc. purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,050 shares of the biopharmaceutical company's stock, valued at approximately $539,000.
Other hedge funds have also modified their holdings of the company. Inspire Investing LLC raised its holdings in shares of Royalty Pharma by 175.1% in the 1st quarter. Inspire Investing LLC now owns 43,524 shares of the biopharmaceutical company's stock worth $1,322,000 after buying an additional 27,701 shares in the last quarter. New Century Financial Group LLC acquired a new position in shares of Royalty Pharma in the 1st quarter worth approximately $1,091,000. Swedbank AB raised its holdings in shares of Royalty Pharma by 30.6% in the 2nd quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company's stock worth $285,151,000 after buying an additional 2,533,570 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Royalty Pharma by 5.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 923,639 shares of the biopharmaceutical company's stock worth $28,051,000 after buying an additional 45,839 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Royalty Pharma by 28.2% in the 1st quarter. Tidal Investments LLC now owns 90,149 shares of the biopharmaceutical company's stock worth $2,740,000 after buying an additional 19,834 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.
Royalty Pharma Trading Down 0.3 %
Shares of RPRX stock traded down $0.08 on Thursday, reaching $27.28. 1,591,006 shares of the stock were exchanged, compared to its average volume of 2,589,534. The stock has a market cap of $16.19 billion, a PE ratio of 24.19, a P/E/G ratio of 4.03 and a beta of 0.46. Royalty Pharma plc has a one year low of $25.20 and a one year high of $31.66. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. The stock has a 50 day moving average price of $28.03 and a 200 day moving average price of $27.65.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. The company had revenue of $537.00 million during the quarter, compared to the consensus estimate of $600.83 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. Equities research analysts forecast that Royalty Pharma plc will post 4.05 EPS for the current fiscal year.
Royalty Pharma Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.08%. Royalty Pharma's dividend payout ratio (DPR) is presently 74.34%.
Analyst Ratings Changes
RPRX has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on Royalty Pharma from $50.00 to $51.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Morgan Stanley lifted their price objective on Royalty Pharma from $48.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, July 11th. Finally, StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.
View Our Latest Report on RPRX
Royalty Pharma Profile
(
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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