DnB Asset Management AS Increases Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

DnB Asset Management AS boosted its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,106 shares of the biopharmaceutical company’s stock after buying an additional 3,033 shares during the quarter. DnB Asset Management AS’s holdings in Royalty Pharma were worth $1,814,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group raised its holdings in Royalty Pharma by 1,006.9% in the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 876 shares in the last quarter. Allworth Financial LP grew its position in shares of Royalty Pharma by 417.6% in the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 877 shares during the last quarter. Riverview Trust Co raised its stake in shares of Royalty Pharma by 3,953.3% during the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 1,186 shares in the last quarter. Fifth Third Bancorp lifted its position in Royalty Pharma by 187.1% during the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 997 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its stake in Royalty Pharma by 160.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 1,003 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RPRX. Citigroup reaffirmed a “buy” rating on shares of Royalty Pharma in a research report on Friday. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $41.60.

Royalty Pharma Stock Up 0.1 %

NASDAQ:RPRX opened at $31.17 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The company’s fifty day moving average price is $32.47 and its 200-day moving average price is $28.91. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $34.20. The firm has a market capitalization of $17.97 billion, a P/E ratio of 21.50, a PEG ratio of 2.31 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS 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, equities research analysts anticipate that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were paid a dividend of $0.22 per share. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, February 21st. Royalty Pharma’s dividend payout ratio is presently 60.69%.

About Royalty Pharma

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.