Allspring Global Investments Holdings LLC Grows Stock Position in Royalty Pharma PLC (NASDAQ:RPRX)

Allspring Global Investments Holdings LLC raised its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 4.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 561,724 shares of the biopharmaceutical company's stock after acquiring an additional 21,729 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.10% of Royalty Pharma worth $17,509,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of RPRX. Adage Capital Partners GP L.L.C. lifted its position in Royalty Pharma by 42.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock valued at $432,862,000 after acquiring an additional 5,069,127 shares in the last quarter. Norges Bank purchased a new stake in shares of Royalty Pharma in the fourth quarter worth approximately $124,498,000. BNP Paribas Financial Markets bought a new position in shares of Royalty Pharma in the fourth quarter valued at approximately $41,959,000. AQR Capital Management LLC boosted its position in shares of Royalty Pharma by 187.0% during the fourth quarter. AQR Capital Management LLC now owns 1,903,676 shares of the biopharmaceutical company's stock valued at $48,563,000 after buying an additional 1,240,384 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Royalty Pharma during the first quarter valued at approximately $31,591,000. Institutional investors own 54.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Morgan Stanley began coverage on Royalty Pharma in a research report on Friday, May 16th. They issued an "overweight" rating and a $51.00 price target for the company. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Finally, Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Royalty Pharma has an average rating of "Buy" and an average target price of $47.33.

Royalty Pharma Stock Performance

Shares of RPRX traded up $0.14 on Friday, reaching $36.33. 1,196,661 shares of the company's stock traded hands, compared to its average volume of 3,679,527. The stock's 50 day simple moving average is $33.88 and its two-hundred day simple moving average is $31.98. The stock has a market cap of $20.42 billion, a PE ratio of 19.64, a PEG ratio of 1.87 and a beta of 0.50. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $36.43. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.07. The firm had revenue of $839.00 million during the quarter, compared to analyst estimates of $724.69 million. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. On average, analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.88 annualized dividend and a yield of 2.42%. Royalty Pharma's payout ratio is currently 47.57%.

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.