Ensign Peak Advisors Inc Cuts Stake in Royalty Pharma plc (NASDAQ:RPRX)

Ensign Peak Advisors Inc reduced its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,971 shares of the biopharmaceutical company’s stock after selling 1,208 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Royalty Pharma were worth $5,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in RPRX. Barclays PLC grew its holdings in Royalty Pharma by 16.3% during the 3rd quarter. Barclays PLC now owns 308,887 shares of the biopharmaceutical company’s stock valued at $8,737,000 after buying an additional 43,339 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Royalty Pharma during the 4th quarter valued at approximately $486,000. Brooklyn Investment Group boosted its position in shares of Royalty Pharma by 1,006.9% during the 4th 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 last quarter. Ballentine Partners LLC bought a new position in shares of Royalty Pharma during the 4th quarter valued at approximately $200,000. Finally, Impact Partnership Wealth LLC bought a new position in shares of Royalty Pharma during the 4th quarter valued at approximately $467,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Down 1.6%

Shares of RPRX opened at $32.82 on Wednesday. The company has a market cap of $18.92 billion, a PE ratio of 22.63, a P/E/G ratio of 2.31 and a beta of 0.49. The business has a fifty day moving average of $32.37 and a 200 day moving average of $29.86. Royalty Pharma plc has a 52-week low of $24.05 and a 52-week high of $34.20. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, sell-side analysts expect that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.68%. Royalty Pharma’s payout ratio is 47.57%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RPRX. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Monday. Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Royalty Pharma presently has a consensus rating of “Buy” and a consensus target price of $42.50.

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.