Van ECK Associates Corp Increases Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Van ECK Associates Corp raised its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 25.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,140 shares of the biopharmaceutical company’s stock after purchasing an additional 25,640 shares during the period. Van ECK Associates Corp’s holdings in Royalty Pharma were worth $3,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Brooklyn Investment Group raised its holdings in shares of Royalty Pharma by 1,006.9% during the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 876 shares in the last quarter. Blue Trust Inc. increased its position in Royalty Pharma by 362.7% during the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 943 shares during the period. Fifth Third Bancorp raised its holdings in Royalty Pharma by 187.1% in the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 997 shares in the last quarter. Spire Wealth Management lifted its position in shares of Royalty Pharma by 377.6% in the 4th quarter. Spire Wealth Management now owns 2,149 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 1,699 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Royalty Pharma during the 3rd quarter valued at about $61,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $32.59 on Thursday. The company has a 50 day simple moving average of $28.85 and a two-hundred day simple moving average of $27.85. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $32.92. The company has a market capitalization of $19.20 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 2.24 and a beta of 0.49. 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 posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating 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%. Analysts expect that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be paid a $0.22 dividend. This is a boost 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 yield of 2.70%. Royalty Pharma’s payout ratio is presently 57.93%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. Finally, Citigroup lowered their target price on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $41.67.

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.