Arizona State Retirement System grew its holdings in Royalty Pharma plc (NASDAQ:RPRX – Get Rating) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,988 shares of the biopharmaceutical company’s stock after purchasing an additional 3,369 shares during the period. Arizona State Retirement System’s holdings in Royalty Pharma were worth $3,912,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of RPRX. Vanguard Group Inc. lifted its stake in Royalty Pharma by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 31,860,621 shares of the biopharmaceutical company’s stock worth $1,241,289,000 after acquiring an additional 2,224,056 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Royalty Pharma by 1,012.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,391,857 shares of the biopharmaceutical company’s stock valued at $96,118,000 after acquiring an additional 2,176,904 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Royalty Pharma by 4.6% in the 1st quarter. BlackRock Inc. now owns 17,483,188 shares of the biopharmaceutical company’s stock valued at $681,145,000 after acquiring an additional 767,864 shares during the last quarter. State Street Corp increased its position in Royalty Pharma by 9.7% during the first quarter. State Street Corp now owns 7,762,572 shares of the biopharmaceutical company’s stock worth $302,430,000 after buying an additional 685,242 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Royalty Pharma during the first quarter worth approximately $23,083,000. Institutional investors and hedge funds own 55.36% of the company’s stock.
Royalty Pharma Stock Up 0.6 %
Royalty Pharma stock opened at $35.10 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.19 and a quick ratio of 2.19. Royalty Pharma plc has a 1-year low of $32.68 and a 1-year high of $44.66. The company has a market cap of $21.31 billion, a PE ratio of 438.75, a price-to-earnings-growth ratio of 0.71 and a beta of 0.42. The stock’s 50 day moving average price is $35.48 and its 200 day moving average price is $38.64.
Royalty Pharma Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, May 19th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $0.80 dividend on an annualized basis and a yield of 2.28%. Royalty Pharma’s payout ratio is 1,000.00%.
Insiders Place Their Bets
In other Royalty Pharma news, EVP George W. Lloyd sold 100,000 shares of the business’s stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $37.06, for a total transaction of $3,706,000.00. Following the sale, the executive vice president now directly owns 225,000 shares in the company, valued at $8,338,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Royalty Pharma news, EVP Marshall Urist sold 23,333 shares of the business’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $37.30, for a total transaction of $870,320.90. Following the sale, the executive vice president now directly owns 46,667 shares in the company, valued at $1,740,679.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP George W. Lloyd sold 100,000 shares of the business’s stock in a transaction on Tuesday, March 28th. The stock was sold at an average price of $37.06, for a total value of $3,706,000.00. Following the sale, the executive vice president now owns 225,000 shares in the company, valued at $8,338,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,259 shares of company stock worth $4,943,087. 24.86% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Tigress Financial lifted their price target on Royalty Pharma from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. TheStreet lowered Royalty Pharma from a “c-” rating to a “d+” rating in a research report on Tuesday, February 21st. Morgan Stanley lifted their price target on Royalty Pharma from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, April 10th. StockNews.com assumed coverage on Royalty Pharma in a report on Thursday, March 16th. They issued a “buy” rating on the stock. Finally, UBS Group dropped their target price on Royalty Pharma from $51.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, February 16th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $53.83.
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.
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