Raymond James & Associates boosted its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 9.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 805,080 shares of the biopharmaceutical company's stock after buying an additional 71,402 shares during the quarter. Raymond James & Associates owned approximately 0.14% of Royalty Pharma worth $22,776,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Blue Trust Inc. grew its position in shares of Royalty Pharma by 362.7% during the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company's stock valued at $32,000 after acquiring an additional 943 shares during the period. Marathon Asset Management Ltd lifted its stake in Royalty Pharma by 2.5% in the third quarter. Marathon Asset Management Ltd now owns 762,151 shares of the biopharmaceutical company's stock valued at $21,561,000 after purchasing an additional 18,424 shares during the last quarter. Inlet Private Wealth LLC bought a new position in Royalty Pharma during the third quarter valued at $5,332,000. Swedbank AB increased its position in Royalty Pharma by 2.0% in the third quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company's stock worth $311,964,000 after buying an additional 213,900 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of Royalty Pharma by 0.9% in the third quarter. Handelsbanken Fonder AB now owns 721,327 shares of the biopharmaceutical company's stock valued at $20,406,000 after buying an additional 6,298 shares during the period. Hedge funds and other institutional investors own 54.35% of the company's stock.
Royalty Pharma Price Performance
RPRX stock traded down $0.33 during midday trading on Friday, reaching $26.95. The company had a trading volume of 1,628,288 shares, compared to its average volume of 2,584,891. The firm has a 50-day moving average price of $28.03 and a 200-day moving average price of $27.64. 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 company has a market capitalization of $16.10 billion, a P/E ratio of 20.28, a P/E/G ratio of 4.03 and a beta of 0.46. Royalty Pharma plc has a 1 year low of $25.20 and a 1 year high of $31.66.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS for the quarter, beating 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 business had revenue of $537.00 million for the quarter, compared to analysts' expectations of $600.83 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. On average, research analysts anticipate that Royalty Pharma plc will post 4.05 earnings per share for the current fiscal year.
Royalty Pharma Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma's dividend payout ratio is currently 62.69%.
Analyst Upgrades and Downgrades
RPRX has been the subject of several research reports. Citigroup cut their price target on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a research note on Friday. Morgan Stanley lifted their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, July 11th. The Goldman Sachs Group upped their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Royalty Pharma currently has a consensus rating of "Moderate Buy" and an average price target of $41.67.
Check Out Our Latest Research Report on Royalty Pharma
Royalty Pharma Company 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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