Royalty Pharma plc (NASDAQ:RPRX) Shares Acquired by Allworth Financial LP

Allworth Financial LP grew its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 417.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,087 shares of the biopharmaceutical company’s stock after buying an additional 877 shares during the quarter. Allworth Financial LP’s holdings in Royalty Pharma were worth $28,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Swedbank AB raised its holdings in Royalty Pharma by 10.3% during the fourth quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company’s stock worth $310,308,000 after purchasing an additional 1,136,800 shares during the last quarter. State Street Corp raised its holdings in Royalty Pharma by 0.3% during the third quarter. State Street Corp now owns 9,516,262 shares of the biopharmaceutical company’s stock worth $269,215,000 after purchasing an additional 29,451 shares during the last quarter. Geode Capital Management LLC raised its holdings in Royalty Pharma by 6.1% during the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock worth $205,562,000 after purchasing an additional 417,490 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Royalty Pharma by 44.7% during 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Royalty Pharma by 58.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock worth $84,915,000 after purchasing an additional 1,103,341 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on RPRX. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $41.60.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $33.38 on Thursday. 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 market cap of $19.24 billion, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. The business has a fifty day moving average of $29.71 and a 200-day moving average of $28.09. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share 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%. As a group, analysts predict that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be given 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 2.64%. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s payout ratio is currently 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.