Adage Capital Partners GP L.L.C. Acquires 5,069,127 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Adage Capital Partners GP L.L.C. lifted its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 42.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,968,321 shares of the biopharmaceutical company's stock after acquiring an additional 5,069,127 shares during the period. Royalty Pharma accounts for approximately 0.8% of Adage Capital Partners GP L.L.C.'s holdings, making the stock its 18th biggest position. Adage Capital Partners GP L.L.C. owned approximately 2.88% of Royalty Pharma worth $432,862,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group raised its holdings in shares of Royalty Pharma by 1,006.9% during the fourth 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 period. Allworth Financial LP lifted its position in shares of Royalty Pharma by 417.6% in the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 877 shares in the last quarter. Riverview Trust Co boosted its position in Royalty Pharma by 3,953.3% during the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock valued at $31,000 after purchasing an additional 1,186 shares during the last quarter. Fifth Third Bancorp raised its position in Royalty Pharma by 187.1% during the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 997 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Royalty Pharma by 31.3% in the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 376 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

Shares of RPRX traded up $0.21 during mid-day trading on Monday, reaching $32.41. The company had a trading volume of 1,625,538 shares, compared to its average volume of 3,253,424. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The company's 50-day moving average is $32.52 and its 200-day moving average is $29.45. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $34.20. The company has a market capitalization of $18.68 billion, a P/E ratio of 22.35, a P/E/G ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, equities analysts anticipate that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, May 16th. Royalty Pharma's payout ratio is presently 60.69%.

Analyst Upgrades and Downgrades

Separately, Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $42.50.

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.