Nissay Asset Management Corp Japan ADV Boosts Stake in Royalty Pharma plc (NASDAQ:RPRX)

Nissay Asset Management Corp Japan ADV raised its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,481 shares of the biopharmaceutical company’s stock after purchasing an additional 349 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Royalty Pharma were worth $1,238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nuveen Asset Management LLC raised its position in Royalty Pharma by 0.9% in the fourth quarter. Nuveen Asset Management LLC now owns 944,601 shares of the biopharmaceutical company’s stock valued at $24,097,000 after purchasing an additional 8,802 shares during the period. Occudo Quantitative Strategies LP raised its position in Royalty Pharma by 96.4% in the fourth quarter. Occudo Quantitative Strategies LP now owns 22,512 shares of the biopharmaceutical company’s stock valued at $574,000 after purchasing an additional 11,052 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Royalty Pharma by 25.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,501 shares of the biopharmaceutical company’s stock valued at $1,696,000 after purchasing an additional 13,376 shares during the period. Ethic Inc. raised its position in Royalty Pharma by 132.6% in the fourth quarter. Ethic Inc. now owns 20,342 shares of the biopharmaceutical company’s stock valued at $519,000 after purchasing an additional 11,597 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in Royalty Pharma by 24.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,161,304 shares of the biopharmaceutical company’s stock valued at $29,625,000 after purchasing an additional 228,964 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RPRX. Morgan Stanley began coverage on Royalty Pharma in a research note on Friday. They issued an “overweight” rating and a $51.00 price objective for the company. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Citigroup reaffirmed a “buy” rating on shares of Royalty Pharma in a research note on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $42.50.

Royalty Pharma Trading Up 2.7%

Shares of NASDAQ RPRX opened at $34.02 on Monday. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $34.20. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a fifty day simple moving average of $32.39 and a 200-day simple moving average of $30.01. The stock has a market capitalization of $19.61 billion, a PE ratio of 23.46, a PEG ratio of 2.31 and a beta of 0.49.

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

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.88 annualized dividend and a yield of 2.59%. Royalty Pharma’s payout ratio is 47.57%.

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.