River Road Asset Management LLC Purchases Shares of 154,639 Royalty Pharma plc (NASDAQ:RPRX)

River Road Asset Management LLC 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 and Exchange Commission (SEC). The firm purchased 154,639 shares of the biopharmaceutical company’s stock, valued at approximately $4,344,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new stake in Royalty Pharma in the 4th quarter valued at $110,000. Saybrook Capital NC acquired a new stake in shares of Royalty Pharma during the 4th quarter worth approximately $496,000. Mackenzie Financial Corp raised its position in shares of Royalty Pharma by 460.2% during the 4th quarter. Mackenzie Financial Corp now owns 112,443 shares of the biopharmaceutical company’s stock valued at $3,159,000 after buying an additional 92,372 shares during the period. Cornercap Investment Counsel Inc. raised its position in shares of Royalty Pharma by 106.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 66,932 shares of the biopharmaceutical company’s stock valued at $1,880,000 after buying an additional 34,483 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new position in Royalty Pharma in the fourth quarter valued at approximately $564,000. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Stock Up 1.0 %

Shares of NASDAQ RPRX opened at $27.89 on Friday. The stock has a market cap of $16.66 billion, a P/E ratio of 14.76, a PEG ratio of 0.78 and a beta of 0.45. The business’s fifty day simple moving average is $29.79 and its 200-day simple moving average is $28.50. Royalty Pharma plc has a 12-month low of $25.92 and a 12-month high of $36.48. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.12. The company had revenue of $736.00 million for the quarter, compared to the consensus estimate of $702.90 million. Royalty Pharma had a return on equity of 26.93% and a net margin of 48.22%. As a group, equities analysts predict that Royalty Pharma plc will post 3.95 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, May 16th. Royalty Pharma’s dividend payout ratio (DPR) is presently 44.44%.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their target price on Royalty Pharma from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Bank of America reduced their price target on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. JPMorgan Chase & Co. lowered their price target on Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Finally, StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $46.75.

Royalty Pharma Company 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.