New York State Common Retirement Fund Lowers Holdings in Royalty Pharma plc (NASDAQ:RPRX)

New York State Common Retirement Fund reduced its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 266,815 shares of the biopharmaceutical company’s stock after selling 13,500 shares during the quarter. New York State Common Retirement Fund’s holdings in Royalty Pharma were worth $6,806,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Swedbank AB grew its stake in shares of Royalty Pharma by 10.3% during the 4th 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 period. Charles Schwab Investment Management Inc. boosted 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 buying an additional 1,103,341 shares in the last quarter. Two Sigma Advisers LP grew its position 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 valued at $85,809,000 after buying an additional 936,900 shares during the period. Point72 Asset Management L.P. purchased a new position in Royalty Pharma in the third quarter valued at $14,898,000. Finally, Geode Capital Management LLC raised its position in shares of Royalty Pharma by 6.1% in the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock worth $205,562,000 after acquiring an additional 417,490 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Trading Down 0.9 %

Shares of RPRX stock 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 company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock’s fifty day moving average is $29.71 and its two-hundred day moving average is $28.09. The firm has a market capitalization of $19.24 billion, a P/E ratio of 23.02, a PEG ratio of 2.31 and a beta of 0.49.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. Research analysts expect that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal 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 issued a dividend of $0.22 per share. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Friday, February 21st. Royalty Pharma’s payout ratio is currently 60.69%.

Analyst Ratings Changes

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

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.