Royalty Pharma plc (NASDAQ:RPRX) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,009,541 shares of the biopharmaceutical company’s stock after purchasing an additional 15,963 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.17% of Royalty Pharma worth $28,560,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Swedbank AB increased its stake in Royalty Pharma by 2.0% during the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock worth $311,964,000 after buying an additional 213,900 shares during the period. New South Capital Management Inc. grew its stake in shares of Royalty Pharma by 60.7% in the second quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company’s stock worth $61,943,000 after acquiring an additional 887,522 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Royalty Pharma by 6.0% during the second quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company’s stock worth $40,428,000 after acquiring an additional 86,248 shares during the period. Regal Partners Ltd raised its stake in shares of Royalty Pharma by 22.7% in the second quarter. Regal Partners Ltd now owns 1,177,601 shares of the biopharmaceutical company’s stock valued at $31,053,000 after acquiring an additional 217,774 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Royalty Pharma by 6.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 993,578 shares of the biopharmaceutical company’s stock valued at $26,201,000 after purchasing an additional 62,218 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $25.70 on Friday. The stock’s 50-day simple moving average is $27.47 and its 200-day simple moving average is $27.46. The firm has a market capitalization of $15.25 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 3.78 and a beta of 0.47. Royalty Pharma plc has a fifty-two week low of $25.10 and a fifty-two week high of $31.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.54 and a current ratio of 1.54.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.27%. Royalty Pharma’s payout ratio is currently 43.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on RPRX shares. Citigroup cut their price target on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. The Goldman Sachs Group upped their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Royalty Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $41.67.

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.