Royalty Pharma PLC $RPRX Shares Bought by Aberdeen Group plc

Aberdeen Group plc lifted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 138.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 213,860 shares of the biopharmaceutical company’s stock after acquiring an additional 124,193 shares during the quarter. Aberdeen Group plc’s holdings in Royalty Pharma were worth $6,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. boosted its stake in Royalty Pharma by 42.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company’s stock valued at $432,862,000 after purchasing an additional 5,069,127 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Royalty Pharma by 21.1% in the 4th quarter. Two Sigma Advisers LP now owns 3,673,200 shares of the biopharmaceutical company’s stock worth $93,703,000 after buying an additional 640,000 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Royalty Pharma by 270.4% in the first quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company’s stock valued at $112,788,000 after buying an additional 2,644,923 shares during the period. Northern Trust Corp boosted its stake in Royalty Pharma by 12.8% during the fourth quarter. Northern Trust Corp now owns 3,330,429 shares of the biopharmaceutical company’s stock valued at $84,959,000 after buying an additional 376,619 shares in the last quarter. Finally, GMT Capital Corp boosted its stake in Royalty Pharma by 5.5% during the fourth quarter. GMT Capital Corp now owns 3,267,700 shares of the biopharmaceutical company’s stock valued at $83,359,000 after buying an additional 170,200 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RPRX. Wall Street Zen upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Morgan Stanley lifted their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Finally, Citigroup boosted their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and a consensus price target of $48.00.

Royalty Pharma Price Performance

RPRX stock opened at $36.88 on Thursday. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $38.00. The firm has a 50-day moving average of $36.12 and a two-hundred day moving average of $33.83. The firm has a market capitalization of $21.51 billion, a PE ratio of 21.32, a P/E/G ratio of 2.35 and a beta of 0.55. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The business had revenue of $578.67 million for the quarter, compared to the consensus estimate of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. On average, analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 15th. Royalty Pharma’s payout ratio is 50.87%.

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.