Norges Bank Takes Position in Royalty Pharma plc (NASDAQ:RPRX)

Norges Bank purchased a new position in Royalty Pharma plc (NASDAQ:RPRX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,880,346 shares of the biopharmaceutical company’s stock, valued at approximately $124,498,000. Norges Bank owned approximately 0.83% of Royalty Pharma as of its most recent SEC filing.

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

Royalty Pharma Stock Down 0.8 %

Shares of RPRX stock opened at $31.13 on Tuesday. The firm’s fifty day moving average price is $32.45 and its two-hundred day moving average price is $28.88. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. 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 $17.94 billion, a P/E ratio of 21.47, a PEG ratio of 2.31 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating 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%. On average, equities analysts predict that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were issued a $0.22 dividend. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, February 21st. Royalty Pharma’s payout ratio is currently 60.69%.

Analysts Set New Price Targets

RPRX has been the topic of several recent analyst reports. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. Citigroup restated a “buy” rating on shares of Royalty Pharma in a report on Friday. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $41.60.

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.