Lansforsakringar Fondforvaltning AB publ Takes Position in Royalty Pharma plc (NASDAQ:RPRX)

Lansforsakringar Fondforvaltning AB publ acquired a new position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 150,344 shares of the biopharmaceutical company's stock, valued at approximately $3,835,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in Royalty Pharma by 417.6% in the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 877 shares during the period. Riverview Trust Co boosted its stake in shares of Royalty Pharma by 3,953.3% during the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 1,186 shares during the period. Fifth Third Bancorp boosted its stake in shares of Royalty Pharma by 187.1% during the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock valued at $39,000 after buying an additional 997 shares during the period. Blue Trust Inc. boosted its stake in shares of Royalty Pharma by 31.3% during the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 376 shares during the period. Finally, Rakuten Securities Inc. boosted its stake in shares of Royalty Pharma by 160.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 1,003 shares during the period. Institutional investors and hedge funds own 54.35% of the company's stock.

Analysts Set New Price Targets

RPRX has been the subject of a number of research reports. Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Morgan Stanley initiated coverage on shares of Royalty Pharma in a research note on Friday, May 16th. They set an "overweight" rating and a $51.00 target price for the company. Finally, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.50.

Royalty Pharma Stock Up 1.3%

Shares of Royalty Pharma stock traded up $0.42 during midday trading on Friday, reaching $33.06. 11,683,642 shares of the company's stock traded hands, compared to its average volume of 3,540,923. The company has a market cap of $18.59 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. The company's 50 day simple moving average is $32.31 and its 200 day simple moving average is $30.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Royalty Pharma plc has a 52 week low of $24.05 and a 52 week high of $34.32.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. The business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. Equities analysts expect that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued 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 2.66%. Royalty Pharma's dividend 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.