Raymond James Financial Inc. bought a new stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the fourth quarter, according to its most recent 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 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Swedbank AB grew its stake in 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 during the last quarter. Geode Capital Management LLC increased its holdings in shares of Royalty Pharma by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 7,312,551 shares of the biopharmaceutical company's stock worth $186,846,000 after acquiring an additional 46,765 shares during the period. Norges Bank bought a new stake in Royalty Pharma in the 4th quarter valued at about $124,498,000. Charles Schwab Investment Management Inc. boosted its stake in Royalty Pharma by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company's stock valued at $79,888,000 after purchasing an additional 130,025 shares during the period. Finally, New South Capital Management Inc. grew its position in Royalty Pharma by 19.9% in the 4th quarter. New South Capital Management Inc. now owns 2,957,125 shares of the biopharmaceutical company's stock worth $75,436,000 after purchasing an additional 490,754 shares during the last quarter. 54.35% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on RPRX shares. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. TD Cowen raised 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, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $42.50.
Get Our Latest Stock Analysis on RPRX
Royalty Pharma Price Performance
Shares of NASDAQ RPRX traded down $0.50 during mid-day trading on Wednesday, reaching $31.69. 4,185,299 shares of the company traded hands, compared to its average volume of 3,257,363. The firm has a market cap of $18.27 billion, a PE ratio of 21.86, 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 plc has a fifty-two week low of $24.05 and a fifty-two week high of $34.20. The stock has a fifty day simple moving average of $32.56 and a 200-day simple moving average of $29.34.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 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 anticipate that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.
Royalty Pharma Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a $0.22 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.78%. Royalty Pharma's dividend payout ratio is currently 60.69%.
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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