Man Group plc Boosts Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Man Group plc raised its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 113.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 815,427 shares of the biopharmaceutical company's stock after acquiring an additional 433,245 shares during the period. Man Group plc owned approximately 0.14% of Royalty Pharma worth $20,802,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. grew its stake in Royalty Pharma by 42.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock valued at $432,862,000 after acquiring an additional 5,069,127 shares during the period. Swedbank AB boosted its position in shares of Royalty Pharma by 10.3% during the fourth quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company's stock valued at $310,308,000 after buying an additional 1,136,800 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Royalty Pharma by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 7,312,551 shares of the biopharmaceutical company's stock valued at $186,846,000 after buying an additional 46,765 shares during the last quarter. Norges Bank purchased a new position in shares of Royalty Pharma during the fourth quarter valued at approximately $124,498,000. Finally, Northern Trust Corp boosted its position in shares of Royalty Pharma by 12.8% during the fourth quarter. Northern Trust Corp now owns 3,330,429 shares of the biopharmaceutical company's stock valued at $84,959,000 after buying an additional 376,619 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Wall Street Analyst Weigh In

RPRX has been the topic of several analyst reports. Citigroup reaffirmed a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. Morgan Stanley initiated coverage on Royalty Pharma in a research report on Friday. They set an "overweight" rating and a $51.00 target price on the stock. Finally, StockNews.com raised Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Royalty Pharma currently has an average rating of "Buy" and an average target price of $42.50.

Royalty Pharma Stock Performance

Royalty Pharma stock traded down $1.16 during mid-day trading on Tuesday, reaching $33.09. 7,445,404 shares of the company's stock were exchanged, compared to its average volume of 3,458,649. The business's fifty day simple moving average is $32.42 and its 200 day simple moving average is $30.06. The firm has a market capitalization of $19.07 billion, a PE ratio of 22.82, a P/E/G ratio of 2.31 and a beta of 0.49. Royalty Pharma plc has a one year low of $24.05 and a one year high of $34.50. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released 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. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. The company had revenue of $839.00 million for the quarter, compared to analyst estimates of $724.69 million. On average, sell-side analysts expect that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, May 16th. Royalty Pharma's payout ratio is currently 47.57%.

Royalty Pharma Company 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.