Royalty Pharma plc (NASDAQ:RPRX) Stake Boosted by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 6.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,265,786 shares of the biopharmaceutical company's stock after purchasing an additional 417,490 shares during the period. Geode Capital Management LLC owned about 1.22% of Royalty Pharma worth $205,562,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Swedbank AB raised its holdings in Royalty Pharma by 2.0% in the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company's stock valued at $311,964,000 after acquiring an additional 213,900 shares during the last quarter. State Street Corp lifted its holdings in shares of Royalty Pharma by 0.3% during the 3rd quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company's stock worth $269,215,000 after acquiring an additional 29,451 shares during the period. Two Sigma Advisers LP boosted its position in shares of Royalty Pharma by 44.7% in the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company's stock worth $85,809,000 after acquiring an additional 936,900 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Royalty Pharma by 58.1% in 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 purchasing an additional 1,103,341 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Royalty Pharma by 6.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,972,201 shares of the biopharmaceutical company's stock worth $84,084,000 after purchasing an additional 174,874 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup cut their price objective on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a report on Friday, October 25th. StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.67.

Royalty Pharma Stock Up 0.6 %

RPRX traded up $0.16 during trading hours on Monday, reaching $25.00. 4,385,083 shares of the stock traded hands, compared to its average volume of 2,658,249. Royalty Pharma plc has a fifty-two week low of $24.70 and a fifty-two week high of $31.66. The company has a market cap of $14.73 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 4.36 and a beta of 0.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. The firm's fifty day simple moving average is $26.71 and its two-hundred day simple moving average is $27.23.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.36%. Royalty Pharma's dividend payout ratio (DPR) is presently 43.52%.

About Royalty Pharma

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.