Sumitomo Mitsui DS Asset Management Company Ltd Acquires 13,615 Shares of Royalty Pharma PLC (NASDAQ:RPRX)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 48.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,798 shares of the biopharmaceutical company's stock after acquiring an additional 13,615 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Royalty Pharma were worth $1,301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nissay Asset Management Corp Japan ADV increased its stake in shares of Royalty Pharma by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock worth $1,238,000 after purchasing an additional 349 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Royalty Pharma by 21.8% during the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 371 shares during the last quarter. Sherbrooke Park Advisers LLC increased its stake in shares of Royalty Pharma by 1.1% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock worth $890,000 after purchasing an additional 380 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Royalty Pharma by 76.4% during the 1st 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. Finally, Arizona State Retirement System increased its stake in shares of Royalty Pharma by 0.5% during the 4th quarter. Arizona State Retirement System now owns 110,637 shares of the biopharmaceutical company's stock worth $2,822,000 after purchasing an additional 537 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Performance

Shares of RPRX stock traded up $0.36 during midday trading on Wednesday, hitting $35.87. 3,208,288 shares of the company were exchanged, compared to its average volume of 3,707,196. The firm has a market capitalization of $20.17 billion, a P/E ratio of 19.39, a PEG ratio of 1.82 and a beta of 0.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. The firm's 50 day moving average price is $34.06 and its two-hundred day moving average price is $32.16. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $36.43.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. The firm had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. As a group, equities research analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Friday, May 16th. Royalty Pharma's dividend payout ratio is currently 47.57%.

Wall Street Analysts Forecast Growth

RPRX has been the subject of several research analyst reports. Morgan Stanley initiated coverage on shares of Royalty Pharma in a report on Friday, May 16th. They set an "overweight" rating and a $51.00 target price for the company. Wall Street Zen downgraded shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Finally, Citigroup reaffirmed a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $47.33.

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.