Van ECK Associates Corp Boosts Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Van ECK Associates Corp boosted its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 171.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,500 shares of the biopharmaceutical company's stock after buying an additional 64,057 shares during the quarter. Van ECK Associates Corp's holdings in Royalty Pharma were worth $2,777,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RPRX. Inspire Investing LLC increased its stake in shares of Royalty Pharma by 175.1% in the first quarter. Inspire Investing LLC now owns 43,524 shares of the biopharmaceutical company's stock valued at $1,322,000 after buying an additional 27,701 shares during the period. Swedbank AB raised its holdings in Royalty Pharma by 30.6% during the 2nd quarter. Swedbank AB now owns 10,813,470 shares of the biopharmaceutical company's stock worth $285,151,000 after purchasing an additional 2,533,570 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Royalty Pharma by 5.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 923,639 shares of the biopharmaceutical company's stock worth $28,051,000 after purchasing an additional 45,839 shares during the period. Tidal Investments LLC boosted its stake in shares of Royalty Pharma by 28.2% in the 1st quarter. Tidal Investments LLC now owns 90,149 shares of the biopharmaceutical company's stock valued at $2,740,000 after purchasing an additional 19,834 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Royalty Pharma by 24.5% during the first quarter. Russell Investments Group Ltd. now owns 402,143 shares of the biopharmaceutical company's stock worth $12,224,000 after buying an additional 79,176 shares during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Up 0.6 %

Shares of NASDAQ RPRX traded up $0.15 during mid-day trading on Monday, reaching $26.36. 2,784,630 shares of the company's stock traded hands, compared to its average volume of 2,589,392. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 9.35. The business has a 50-day simple moving average of $27.78 and a 200 day simple moving average of $27.53. The stock has a market cap of $15.64 billion, a P/E ratio of 13.58, a PEG ratio of 3.83 and a beta of 0.47. Royalty Pharma plc has a 1-year low of $25.20 and a 1-year high of $31.66.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. The firm had revenue of $537.00 million during the quarter, compared to analyst estimates of $600.83 million. Royalty Pharma had a return on equity of 24.65% and a net margin of 50.53%. During the same period in the previous year, the company posted $0.85 EPS. On average, analysts expect that Royalty Pharma plc will post 4.07 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Friday, November 15th. Royalty Pharma's dividend payout ratio is 43.52%.

Analyst Ratings Changes

A number of analysts have commented on RPRX shares. StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. The Goldman Sachs Group raised their target price on Royalty Pharma from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Finally, Citigroup dropped their price target 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Royalty Pharma has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

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.