Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Royalty Pharma PLC (NASDAQ:RPRX)

Mirae Asset Global Investments Co. Ltd. raised its stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 51.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,718 shares of the biopharmaceutical company's stock after buying an additional 38,650 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Royalty Pharma were worth $3,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in RPRX. Louisbourg Investments Inc. bought a new stake in Royalty Pharma during the first quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB raised its holdings in Royalty Pharma by 76.4% in 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 in the last quarter. Rakuten Securities Inc. raised its holdings in Royalty Pharma by 160.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock worth $42,000 after purchasing an additional 1,003 shares in the last quarter. Westpac Banking Corp purchased a new stake in shares of Royalty Pharma during the fourth quarter valued at about $53,000. Finally, National Bank of Canada FI boosted its holdings in shares of Royalty Pharma by 21.8% in the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 371 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RPRX. Wall Street Zen lowered Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Morgan Stanley began coverage on Royalty Pharma in a research report on Friday, May 16th. They set an "overweight" rating and a $51.00 target price on the stock. Finally, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Royalty Pharma presently has a consensus rating of "Buy" and an average price target of $47.33.

Royalty Pharma Price Performance

RPRX stock traded up $0.14 during trading on Friday, hitting $36.33. The stock had a trading volume of 1,196,661 shares, compared to its average volume of 3,686,002. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $36.43. The company's 50-day moving average price is $33.88 and its two-hundred day moving average price is $31.93. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.56 and a quick ratio of 1.56. The stock has a market capitalization of $20.42 billion, a P/E ratio of 19.64, a PEG ratio of 1.87 and a beta of 0.50.

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

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.42%. The ex-dividend date was Friday, May 16th. Royalty Pharma's payout ratio is 47.57%.

About Royalty Pharma

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.