Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Royalty Pharma PLC (NASDAQ:RPRX)

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Royalty Pharma PLC by 21.6% during the 1st quarter, acquiring an additional 55,400 shares and owning a total of 311,589 shares valued at $9.7 million.
• Several institutional investors have notably increased their stakes in Royalty Pharma recently, with Victory Capital Management growing its stake by 270.4% in the same quarter.
• Royalty Pharma announced a quarterly dividend of $0.22 per share, which will be paid on September 10th, representing a 2.4% dividend yield.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 21.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 311,589 shares of the biopharmaceutical company's stock after buying an additional 55,400 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.05% of Royalty Pharma worth $9,700,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Louisbourg Investments Inc. purchased a new position in Royalty Pharma during the 1st quarter worth $28,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after purchasing an additional 414 shares during the last quarter. Allworth Financial LP boosted its holdings in Royalty Pharma by 41.6% during the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 452 shares during the last quarter. Transce3nd LLC purchased a new position in Royalty Pharma during the fourth quarter worth about $61,000. Finally, Friedenthal Financial purchased a new position in Royalty Pharma during the first quarter worth about $77,000. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Performance

Shares of NASDAQ:RPRX traded up $0.60 during midday trading on Wednesday, reaching $36.46. The company had a trading volume of 5,232,913 shares, compared to its average volume of 2,794,003. The company's 50 day moving average price is $35.86 and its 200 day moving average price is $33.68. 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 stock has a market cap of $20.50 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.34 and a beta of 0.55. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $38.00.

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

Royalty Pharma Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Morgan Stanley boosted their price objective on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Royalty Pharma presently has a consensus rating of "Buy" and an average price target of $49.00.

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.