Corton Capital Inc. purchased a new position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,893 shares of the biopharmaceutical company's stock, valued at approximately $278,000.
Other hedge funds have also made changes to their positions in the company. Franklin Resources Inc. lifted its stake 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 valued at $40,705,000 after buying an additional 70,130 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Royalty Pharma by 4.3% during 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 in the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of Royalty Pharma during the fourth quarter valued at about $2,355,000. Jupiter Asset Management Ltd. acquired a new position in Royalty Pharma during the fourth quarter worth about $4,950,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Royalty Pharma by 303.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company's stock worth $13,926,000 after purchasing an additional 406,123 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.
Royalty Pharma Stock Performance
NASDAQ RPRX traded up $0.19 during trading on Monday, hitting $33.34. The company's stock had a trading volume of 1,982,142 shares, compared to its average volume of 3,299,706. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average price of $32.39 and a 200 day moving average price of $29.80. The firm has a market cap of $19.22 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. Royalty Pharma plc has a 52 week low of $24.05 and a 52 week high of $34.20.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. Equities research analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.
Royalty Pharma Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Friday, May 16th. Royalty Pharma's dividend payout ratio (DPR) is presently 60.69%.
Analyst Ratings Changes
Separately, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $42.50.
Get Our Latest Stock Report on Royalty Pharma
Royalty Pharma Profile
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Free Report)
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.
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