Victory Capital Management Inc. lifted its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 15.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 978,211 shares of the biopharmaceutical company's stock after acquiring an additional 129,176 shares during the quarter. Victory Capital Management Inc. owned 0.17% of Royalty Pharma worth $24,954,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group boosted its holdings in Royalty Pharma by 1,006.9% during the 4th quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 876 shares during the period. Allworth Financial LP grew its holdings in shares of Royalty Pharma by 417.6% in the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 877 shares in the last quarter. Riverview Trust Co increased its stake in Royalty Pharma by 3,953.3% during the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock worth $31,000 after buying an additional 1,186 shares during the period. Fifth Third Bancorp lifted its holdings in Royalty Pharma by 187.1% during the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock worth $39,000 after buying an additional 997 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Royalty Pharma by 31.3% in the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 376 shares during the period. Hedge funds and other institutional investors own 54.35% of the company's stock.
Analyst Upgrades and Downgrades
Separately, TD Cowen upgraded Royalty Pharma to a "strong-buy" rating in a research note on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $41.60.
Check Out Our Latest Analysis on Royalty Pharma
Royalty Pharma Stock Performance
Shares of RPRX stock traded up $0.30 during mid-day trading on Wednesday, hitting $32.76. 1,640,237 shares of the stock were exchanged, compared to its average volume of 2,822,130. The stock's fifty day simple moving average is $31.16 and its two-hundred day simple moving average is $28.47. 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 12-month low of $24.05 and a 12-month high of $34.20. The stock has a market capitalization of $18.88 billion, a price-to-earnings ratio of 22.61, 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, 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%. On average, analysts forecast 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. Stockholders of record on Friday, February 21st were paid a dividend of $0.22 per share. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.69%. Royalty Pharma's dividend 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.
Recommended Stories
Before you consider Royalty Pharma, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Royalty Pharma wasn't on the list.
While Royalty Pharma currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
