Mackenzie Financial Corp Grows Stake in Royalty Pharma plc (NASDAQ:RPRX)

Mackenzie Financial Corp grew its position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,022 shares of the biopharmaceutical company's stock after buying an additional 9,313 shares during the quarter. Mackenzie Financial Corp's holdings in Royalty Pharma were worth $3,623,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in RPRX. Allworth Financial LP lifted its position in Royalty Pharma by 417.6% in the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 877 shares in the last quarter. Riverview Trust Co boosted its position in shares of 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 buying an additional 1,186 shares during the last quarter. Fifth Third Bancorp increased its holdings in Royalty Pharma by 187.1% in the 4th quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock worth $39,000 after buying an additional 997 shares in the last quarter. Rakuten Securities Inc. raised its position in Royalty Pharma by 160.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock worth $42,000 after buying an additional 1,003 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Royalty Pharma by 31.3% in the 4th quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 376 shares during the last quarter. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX traded up $0.42 during midday trading on Friday, hitting $33.06. 11,683,642 shares of the company's stock traded hands, compared to its average volume of 3,526,122. The firm has a fifty day moving average of $32.31 and a 200 day moving average of $30.39. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $34.32. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization 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.

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, topping the consensus estimate of $0.99 by $0.07. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. The business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. On average, analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 annualized dividend and a yield of 2.66%. Royalty Pharma's dividend payout ratio (DPR) is presently 47.57%.

Analyst Ratings Changes

A number of analysts have recently commented on RPRX shares. 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 started coverage on shares of Royalty Pharma in a report on Friday, May 16th. They issued an "overweight" rating and a $51.00 target price on the stock. Finally, Citigroup reiterated 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 given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Royalty Pharma currently has a consensus rating of "Moderate Buy" and an average price target of $42.50.

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.