Allspring Global Investments Holdings LLC lifted its position in shares of Royalty Pharma PLC (NASDAQ:RPRX – Free Report) by 4.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 561,724 shares of the biopharmaceutical company’s stock after purchasing an additional 21,729 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.10% of Royalty Pharma worth $17,509,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Louisbourg Investments Inc. bought a new stake in shares of Royalty Pharma in the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB raised its holdings in Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 414 shares during the last quarter. Rakuten Securities Inc. raised its stake in shares of Royalty Pharma by 160.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 1,003 shares during the last quarter. Westpac Banking Corp bought a new stake in Royalty Pharma in the 4th quarter worth about $53,000. Finally, National Bank of Canada FI raised its position in Royalty Pharma by 21.8% in the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.
Royalty Pharma Stock Up 0.9%
RPRX opened at $36.19 on Thursday. The firm’s 50 day simple moving average is $33.71 and its two-hundred day simple moving average is $31.77. The company has a market capitalization of $20.35 billion, a PE ratio of 19.56, a PEG ratio of 1.84 and a beta of 0.50. Royalty Pharma PLC has a 1-year low of $24.05 and a 1-year high of $36.34. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68.
Royalty Pharma (NASDAQ:RPRX – Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. The firm had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. As a group, equities analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.
Royalty Pharma Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a $0.22 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.43%. Royalty Pharma’s payout ratio is 47.57%.
Analysts Set New Price Targets
Several brokerages recently issued reports on RPRX. Morgan Stanley started coverage on shares of Royalty Pharma in a report on Friday, May 16th. They issued an “overweight” rating and a $51.00 target price on the stock. Wall Street Zen downgraded Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Royalty Pharma presently has a consensus rating of “Buy” and an average target price of $47.33.
Get Our Latest Stock Report on Royalty Pharma
Royalty Pharma Company 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.
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