Royalty Pharma plc (NASDAQ:RPRX) Position Cut by Rhumbline Advisers

Rhumbline Advisers trimmed its position in Royalty Pharma plc (NASDAQ:RPRX) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 454,148 shares of the biopharmaceutical company’s stock after selling 3,362 shares during the period. Rhumbline Advisers owned approximately 0.08% of Royalty Pharma worth $11,585,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in Royalty Pharma by 5.0% in the third quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock worth $40,705,000 after purchasing an additional 70,130 shares during the period. Van ECK Associates Corp lifted its position in Royalty Pharma by 171.1% in the third quarter. Van ECK Associates Corp now owns 101,500 shares of the biopharmaceutical company’s stock worth $2,777,000 after purchasing an additional 64,057 shares during the period. Summit Global Investments acquired a new stake in Royalty Pharma in the third quarter worth approximately $735,000. Pallas Capital Advisors LLC acquired a new stake in Royalty Pharma in the fourth quarter worth approximately $2,355,000. Finally, Two Sigma Advisers LP lifted its position in Royalty Pharma by 44.7% in the third 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 during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RPRX has been the subject of a number of research analyst reports. TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. One 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. Based on data from MarketBeat.com, Royalty Pharma has a consensus rating of “Buy” and a consensus price target of $41.60.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $33.42 on Monday. Royalty Pharma plc has a one year low of $24.05 and a one year high of $33.69. The stock has a fifty day moving average of $29.18 and a 200-day moving average of $27.94. The company has a market capitalization of $19.26 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 2.31 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 released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) 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%. As a group, equities analysts anticipate that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be issued a $0.22 dividend. 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 2.63%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s dividend payout ratio is presently 57.93%.

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.