Sterling Capital Management LLC Grows Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Sterling Capital Management LLC increased its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 30.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,595 shares of the biopharmaceutical company's stock after buying an additional 8,071 shares during the period. Sterling Capital Management LLC's holdings in Royalty Pharma were worth $883,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. lifted its stake 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 worth $40,705,000 after purchasing an additional 70,130 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Royalty Pharma by 4.3% in the fourth 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 last quarter. Pallas Capital Advisors LLC purchased a new position in Royalty Pharma during the fourth quarter worth about $2,355,000. Jupiter Asset Management Ltd. acquired a new stake in Royalty Pharma in the 4th quarter worth about $4,950,000. Finally, Allspring Global Investments Holdings LLC grew its holdings 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 buying an additional 406,123 shares during the period. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Performance

RPRX remained flat at $32.19 during trading on Tuesday. 2,555,423 shares of the company's stock traded hands, compared to its average volume of 3,253,657. Royalty Pharma plc has a 12 month low of $24.05 and a 12 month high of $34.20. The stock's 50-day moving average is $32.56 and its 200 day moving average is $29.34. The stock has a market capitalization of $18.56 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of 2.31 and a beta of 0.50. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping 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%. Analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.73%. Royalty Pharma's payout ratio is currently 60.69%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RPRX. TD Cowen upgraded shares of Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. Citigroup reaffirmed a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $42.50.

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.