Arizona State Retirement System Increases Stake in Royalty Pharma plc (NASDAQ:RPRX)

Arizona State Retirement System increased its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,637 shares of the biopharmaceutical company’s stock after purchasing an additional 537 shares during the quarter. Arizona State Retirement System’s holdings in Royalty Pharma were worth $2,822,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in RPRX. Proficio Capital Partners LLC purchased a new position in shares of Royalty Pharma in the fourth quarter worth about $786,000. M&T Bank Corp grew its position in Royalty Pharma by 25.2% during the 4th quarter. M&T Bank Corp now owns 23,467 shares of the biopharmaceutical company’s stock worth $599,000 after acquiring an additional 4,718 shares during the last quarter. Victory Capital Management Inc. increased its stake in Royalty Pharma by 15.2% in the 4th quarter. Victory Capital Management Inc. now owns 978,211 shares of the biopharmaceutical company’s stock worth $24,954,000 after purchasing an additional 129,176 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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. Finally, State of Michigan Retirement System boosted its stake in shares of Royalty Pharma by 16.2% during the fourth quarter. State of Michigan Retirement System now owns 19,400 shares of the biopharmaceutical company’s stock valued at $495,000 after purchasing an additional 2,700 shares during the period. 54.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, TD Cowen raised 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 assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Royalty Pharma currently has an average rating of “Buy” and an average price target of $41.60.

Royalty Pharma Trading Down 0.8 %

NASDAQ RPRX opened at $33.01 on Monday. The stock has a market cap of $19.03 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 2.31 and a beta of 0.47. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $34.20. The stock has a 50 day simple moving average of $30.87 and a two-hundred day simple moving average of $28.41. 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 (NASDAQ:RPRX) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be paid 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 of this dividend is Friday, February 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.67%. Royalty Pharma’s payout ratio is presently 60.69%.

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.