Cutter Capital Management LP Raises Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Cutter Capital Management LP boosted its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 15.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 764,859 shares of the biopharmaceutical company's stock after buying an additional 100,000 shares during the period. Royalty Pharma makes up approximately 8.0% of Cutter Capital Management LP's portfolio, making the stock its 3rd biggest position. Cutter Capital Management LP owned approximately 0.13% of Royalty Pharma worth $19,512,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RPRX. Barclays PLC raised its position in shares of Royalty Pharma by 16.3% during the third quarter. Barclays PLC now owns 308,887 shares of the biopharmaceutical company's stock worth $8,737,000 after purchasing an additional 43,339 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Royalty Pharma in the 3rd quarter worth about $61,000. Franklin Resources Inc. lifted its position in Royalty Pharma by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company's stock valued at $40,705,000 after acquiring an additional 70,130 shares in the last quarter. GAMMA Investing LLC boosted its stake in Royalty Pharma by 31.4% during the 4th quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company's stock valued at $63,000 after purchasing an additional 590 shares during the last quarter. Finally, Ridgewood Investments LLC increased its holdings in Royalty Pharma by 40.8% during the 4th quarter. Ridgewood Investments LLC now owns 30,735 shares of the biopharmaceutical company's stock worth $784,000 after purchasing an additional 8,913 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. One research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $42.50.

Royalty Pharma Stock Up 0.3 %

Shares of NASDAQ:RPRX opened at $33.00 on Tuesday. The business has a fifty day moving average price of $32.45 and a two-hundred day moving average price of $29.65. 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 has a market capitalization of $19.02 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $34.20.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. 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 declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.67%. Royalty Pharma's dividend payout ratio is presently 60.69%.

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.

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