Royalty Pharma PLC $RPRX Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Royalty Pharma PLC by 10.9%, reaching a total of $2.32 million in holdings after acquiring additional shares in the first quarter.
• Wall Street analysts have shown positive sentiment towards Royalty Pharma, with upgrades to "buy" ratings and price target increases, indicating a consensus rating of "Buy" with an average target of $48.00.
• Royalty Pharma recently announced a quarterly dividend of $0.22 per share, reflecting a 2.4% yield and demonstrating a solid payout ratio of 50.87%.

American Century Companies Inc. raised its stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 10.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 74,501 shares of the biopharmaceutical company's stock after purchasing an additional 7,341 shares during the period. American Century Companies Inc.'s holdings in Royalty Pharma were worth $2,319,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Louisbourg Investments Inc. bought a new stake in shares of Royalty Pharma in the 1st quarter worth about $28,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 414 shares during the period. Allworth Financial LP boosted its holdings in shares of Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 452 shares during the period. Friedenthal Financial acquired a new position in shares of Royalty Pharma in the 1st quarter valued at about $77,000. Finally, Park Place Capital Corp acquired a new position in shares of Royalty Pharma in the 1st quarter valued at about $108,000. Institutional investors own 54.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on RPRX shares. Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Citigroup lifted their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their price target on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $48.00.

Royalty Pharma Stock Performance

Royalty Pharma stock traded down $0.83 during midday trading on Friday, reaching $36.07. 9,231,241 shares of the stock traded hands, compared to its average volume of 3,155,449. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The firm has a fifty day moving average price of $36.34 and a two-hundred day moving average price of $34.18. The firm has a market cap of $21.03 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.41 and a beta of 0.58. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $578.67 million during the quarter, compared to analyst estimates of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. On average, equities research analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 15th. Royalty Pharma's payout ratio is presently 50.87%.

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.