Mediolanum International Funds Ltd Has $3.55 Million Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Mediolanum International Funds Ltd lessened its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 47.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,342 shares of the biopharmaceutical company's stock after selling 125,230 shares during the quarter. Mediolanum International Funds Ltd's holdings in Royalty Pharma were worth $3,545,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Swedbank AB increased its position in shares of Royalty Pharma by 10.3% during the fourth quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company's stock worth $310,308,000 after acquiring an additional 1,136,800 shares during the last quarter. State Street Corp increased its holdings in 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 purchasing an additional 29,451 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Royalty Pharma by 6.1% in the 3rd quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company's stock valued at $205,562,000 after purchasing an additional 417,490 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Royalty Pharma by 44.7% during the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company's stock valued at $85,809,000 after buying an additional 936,900 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Royalty Pharma by 58.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company's stock worth $84,915,000 after buying an additional 1,103,341 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RPRX. Citigroup reduced their price objective on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Finally, TD Cowen raised Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $41.67.

Royalty Pharma Price Performance

NASDAQ RPRX traded up $0.19 on Wednesday, reaching $31.45. 3,154,890 shares of the stock traded hands, compared to its average volume of 4,179,271. Royalty Pharma plc has a 12 month low of $24.05 and a 12 month high of $32.21. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The firm's fifty day simple moving average is $27.53 and its 200 day simple moving average is $27.57. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 16.30 and a beta of 0.49.

Royalty Pharma Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, February 21st. This represents a $0.88 annualized dividend and a yield of 2.80%. This is a boost from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's dividend payout ratio (DPR) is currently 43.52%.

Royalty Pharma 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.