Mackenzie Financial Corp Increases Position in Royalty Pharma plc (NASDAQ:RPRX)

Mackenzie Financial Corp boosted its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,022 shares of the biopharmaceutical company's stock after purchasing an additional 9,313 shares during the period. Mackenzie Financial Corp's holdings in Royalty Pharma were worth $3,623,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of RPRX. Allworth Financial LP grew its holdings in shares of Royalty Pharma by 417.6% in the fourth 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 last quarter. Riverview Trust Co grew its holdings in Royalty Pharma by 3,953.3% in the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 1,186 shares during the last quarter. Fifth Third Bancorp grew 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 acquiring an additional 997 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of Royalty Pharma by 160.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock valued at $42,000 after acquiring an additional 1,003 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Royalty Pharma by 31.3% during the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 376 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RPRX has been the topic of a number of research analyst reports. Wall Street Zen downgraded Royalty Pharma from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Morgan Stanley initiated coverage on Royalty Pharma in a research report on Friday, May 16th. They issued an "overweight" rating and a $51.00 price objective on the stock. Finally, Citigroup restated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Royalty Pharma presently has a consensus rating of "Moderate Buy" and an average price target of $42.50.

Royalty Pharma Stock Up 0.1%

RPRX traded up $0.03 on Tuesday, hitting $33.29. The company had a trading volume of 3,408,547 shares, compared to its average volume of 3,528,115. The stock has a fifty day simple moving average of $32.37 and a 200-day simple moving average of $30.52. 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 firm has a market capitalization of $18.72 billion, a P/E ratio of 22.96, a P/E/G ratio of 2.31 and a beta of 0.49. 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 announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping 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 24.40% and a net margin of 37.94%. As a group, equities analysts expect that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, May 16th. Royalty Pharma's dividend payout ratio is currently 47.57%.

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.