Raymond James Financial Inc. Purchases New Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Raymond James Financial Inc. bought a new stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 783,633 shares of the biopharmaceutical company's stock, valued at approximately $19,990,000. Raymond James Financial Inc. owned 0.13% of Royalty Pharma at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Swedbank AB boosted its stake in shares of Royalty Pharma by 2.0% in the third quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company's stock valued at $311,964,000 after buying an additional 213,900 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Royalty Pharma by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,009,541 shares of the biopharmaceutical company's stock worth $28,560,000 after purchasing an additional 15,963 shares in the last quarter. Victory Capital Management Inc. boosted its position in Royalty Pharma by 26.8% during the third quarter. Victory Capital Management Inc. now owns 849,035 shares of the biopharmaceutical company's stock worth $24,019,000 after purchasing an additional 179,411 shares in the last quarter. KBC Group NV boosted its position in Royalty Pharma by 63.1% during the third quarter. KBC Group NV now owns 41,554 shares of the biopharmaceutical company's stock worth $1,176,000 after purchasing an additional 16,081 shares in the last quarter. Finally, Metis Global Partners LLC boosted its position in Royalty Pharma by 10.8% during the third quarter. Metis Global Partners LLC now owns 21,737 shares of the biopharmaceutical company's stock worth $615,000 after purchasing an additional 2,126 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

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Wall Street Analysts Forecast Growth

Separately, TD Cowen raised Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $41.60.

Royalty Pharma Trading Up 0.3 %

NASDAQ:RPRX traded up $0.09 on Thursday, hitting $33.50. 2,555,881 shares of the stock were exchanged, compared to its average volume of 2,828,314. The stock has a market cap of $19.31 billion, a PE ratio of 23.10, a PEG ratio of 2.31 and a beta of 0.47. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average of $32.02 and a 200-day moving average of $28.65. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $34.20.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share 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%. As a group, equities analysts expect that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were given a $0.22 dividend. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. The ex-dividend date was Friday, February 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.63%. Royalty Pharma's dividend payout ratio is presently 60.69%.

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.