Royalty Pharma plc (NASDAQ:RPRX) Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System grew its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,136,899 shares of the biopharmaceutical company’s stock after buying an additional 110,768 shares during the quarter. California Public Employees Retirement System owned about 0.36% of Royalty Pharma worth $60,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in Royalty Pharma by 89.8% in the 3rd quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 451 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Royalty Pharma by 112.0% during the third quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 531 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Royalty Pharma by 485.2% during the fourth quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 1,999 shares in the last quarter. Rakuten Securities Inc. acquired a new position in Royalty Pharma in the fourth quarter worth approximately $110,000. Finally, CWM LLC increased its holdings in shares of Royalty Pharma by 75.9% in the third quarter. CWM LLC now owns 4,782 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 2,064 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Trading Up 0.5 %

Royalty Pharma stock opened at $28.11 on Friday. Royalty Pharma plc has a 12 month low of $25.92 and a 12 month high of $35.76. The company has a quick ratio of 7.90, a current ratio of 7.90 and a debt-to-equity ratio of 0.61. The stock has a market cap of $16.79 billion, a P/E ratio of 14.87 and a beta of 0.45. The company’s fifty day simple moving average is $29.65 and its 200-day simple moving average is $28.54.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. Royalty Pharma had a return on equity of 26.93% and a net margin of 48.22%. The firm had revenue of $736.00 million during the quarter, compared to analysts’ expectations of $702.90 million. As a group, sell-side analysts forecast that Royalty Pharma plc will post 3.95 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be issued a $0.21 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a yield of 2.99%. Royalty Pharma’s dividend payout ratio is currently 44.44%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. The Goldman Sachs Group decreased their price objective on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. JPMorgan Chase & Co. cut their target price on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 20th. Finally, Bank of America decreased their target price on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $46.75.

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.