California Public Employees Retirement System Raises Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

California Public Employees Retirement System lifted its position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,136,899 shares of the biopharmaceutical company's stock after acquiring an additional 110,768 shares during the quarter. California Public Employees Retirement System owned 0.36% of Royalty Pharma worth $60,025,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CWM LLC lifted its stake in Royalty Pharma by 42.1% in the 4th quarter. CWM LLC now owns 6,796 shares of the biopharmaceutical company's stock valued at $191,000 after buying an additional 2,014 shares in the last quarter. Signaturefd LLC lifted its stake in Royalty Pharma by 85.2% in the 4th quarter. Signaturefd LLC now owns 10,886 shares of the biopharmaceutical company's stock valued at $306,000 after buying an additional 5,007 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Royalty Pharma by 485.2% in the 4th quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company's stock valued at $68,000 after buying an additional 1,999 shares in the last quarter. Institute for Wealth Management LLC. purchased a new position in Royalty Pharma in the 4th quarter valued at about $237,000. Finally, Daiwa Securities Group Inc. raised its holdings in Royalty Pharma by 12.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 36,643 shares of the biopharmaceutical company's stock valued at $1,029,000 after acquiring an additional 4,007 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Trading Down 0.4 %

Royalty Pharma stock traded down $0.11 during trading on Friday, hitting $28.00. The company had a trading volume of 1,358,520 shares, compared to its average volume of 2,670,692. Royalty Pharma plc has a 1-year low of $25.92 and a 1-year high of $35.76. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61. The company's 50 day simple moving average is $29.61 and its 200-day simple moving average is $28.55. The stock has a market cap of $16.73 billion, a price-to-earnings ratio of 14.81 and a beta of 0.45.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.12. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. The firm had revenue of $736.00 million during the quarter, compared to the consensus estimate of $702.90 million. As a group, analysts expect that Royalty Pharma plc will post 3.95 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be given a $0.21 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 3.00%. Royalty Pharma's dividend payout ratio is presently 44.44%.

Analyst Upgrades and Downgrades

A number of research firms have commented on RPRX. JPMorgan Chase & Co. cut their price objective on shares of Royalty Pharma from $45.00 to $42.00 and set an "overweight" rating for the company in a report on Tuesday, February 20th. The Goldman Sachs Group cut their price objective on shares of Royalty Pharma from $56.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, February 20th. StockNews.com upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Thursday, April 11th. Finally, Bank of America cut their price target on shares of Royalty Pharma from $40.00 to $38.00 and set a "buy" rating for the company in a report on Friday, April 12th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Royalty Pharma currently has a consensus rating of "Buy" and a consensus target price of $46.75.

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.