Swiss National Bank lowered its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 5.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,076,100 shares of the biopharmaceutical company's stock after selling 64,500 shares during the period. Swiss National Bank owned approximately 0.18% of Royalty Pharma worth $27,451,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Swedbank AB grew its stake in shares of Royalty Pharma by 10.3% in 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 in the last quarter. Charles Schwab Investment Management Inc. boosted 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. Two Sigma Advisers LP grew its stake in 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 worth $85,809,000 after purchasing an additional 936,900 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Royalty Pharma in the 4th quarter valued at about $19,990,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Royalty Pharma in the 3rd quarter valued at about $14,898,000. 54.35% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, TD Cowen upgraded shares of Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $41.60.
Read Our Latest Research Report on Royalty Pharma
Royalty Pharma Stock Up 0.6 %
RPRX stock traded up $0.20 during midday trading on Friday, reaching $33.70. 7,065,045 shares of the company were exchanged, compared to its average volume of 2,842,736. The company has a market cap of $19.43 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $34.20. The stock's 50-day simple moving average is $32.17 and its 200 day simple moving average is $28.69.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. On average, equities analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current year.
Royalty Pharma Increases Dividend
The company also recently declared 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 is a positive change from Royalty Pharma's previous quarterly dividend of $0.21. The ex-dividend date was Friday, February 21st. This represents a $0.88 annualized dividend and a yield of 2.61%. Royalty Pharma's payout ratio is 60.69%.
About Royalty Pharma
(
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.
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