Horizon Kinetics Asset Management LLC boosted its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 39.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 319,176 shares of the biopharmaceutical company's stock after buying an additional 90,380 shares during the period. Horizon Kinetics Asset Management LLC owned approximately 0.05% of Royalty Pharma worth $8,142,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in RPRX. Franklin Resources Inc. lifted its holdings in shares of Royalty Pharma by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company's stock valued at $40,705,000 after purchasing an additional 70,130 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Royalty Pharma by 4.3% in 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 buying an additional 130,025 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in Royalty Pharma in the fourth quarter valued at $2,355,000. Allspring Global Investments Holdings LLC lifted its stake in Royalty Pharma by 303.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company's stock valued at $13,926,000 after purchasing an additional 406,123 shares during the last quarter. Finally, Two Sigma Advisers LP lifted 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 valued at $85,809,000 after buying an additional 936,900 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.
Royalty Pharma Stock Performance
RPRX traded up $0.20 during trading on Friday, hitting $33.70. The stock had a trading volume of 7,065,345 shares, compared to its average volume of 2,842,737. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The company has a 50 day moving average price of $32.17 and a 200-day moving average price of $28.69. Royalty Pharma plc has a one year low of $24.05 and a one year high of $34.20. The firm has a market cap of $19.43 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 2.31 and a beta of 0.47.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, research analysts predict that Royalty Pharma plc will post 4.49 EPS for the current year.
Royalty Pharma Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Friday, February 21st. This is a positive change from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's dividend payout ratio is presently 60.69%.
Wall Street Analysts Forecast Growth
Separately, 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, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $41.60.
Read Our Latest Stock Report on Royalty Pharma
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.
Further Reading
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