Royalty Pharma plc (NASDAQ:RPRX) Shares Acquired by Raymond James & Associates

Raymond James & Associates raised its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 9.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 805,080 shares of the biopharmaceutical company’s stock after purchasing an additional 71,402 shares during the quarter. Raymond James & Associates’ holdings in Royalty Pharma were worth $22,776,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Swedbank AB acquired a new stake in shares of Royalty Pharma during the 1st quarter valued at $251,461,000. New South Capital Management Inc. purchased a new stake in shares of Royalty Pharma during the first quarter valued at $44,384,000. Homestead Advisers Corp boosted its position in shares of Royalty Pharma by 40.7% in the 1st quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock valued at $57,502,000 after purchasing an additional 547,000 shares during the period. Dark Forest Capital Management LP boosted its position in shares of Royalty Pharma by 2,974.4% in the 2nd quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company’s stock valued at $8,931,000 after purchasing an additional 327,659 shares during the period. Finally, AQR Capital Management LLC increased its stake in Royalty Pharma by 69.0% in the 2nd quarter. AQR Capital Management LLC now owns 785,567 shares of the biopharmaceutical company’s stock worth $20,715,000 after purchasing an additional 320,606 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Price Performance

NASDAQ RPRX opened at $27.28 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. The firm has a market capitalization of $16.19 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 4.03 and a beta of 0.46. The company has a 50 day simple moving average of $28.03 and a 200-day simple moving average of $27.65. Royalty Pharma plc has a 52-week low of $25.20 and a 52-week high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $537.00 million during the quarter, compared to the consensus estimate of $600.83 million. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. During the same quarter in the prior year, the firm earned $0.85 EPS. Equities research analysts predict that Royalty Pharma plc will post 4.05 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.08%. Royalty Pharma’s payout ratio is 74.34%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on RPRX shares. Morgan Stanley upped their price objective on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group lifted their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

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.