Northern Trust Corp Increases Stake in Royalty Pharma plc (NASDAQ:RPRX)

Northern Trust Corp lifted its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 12.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,330,429 shares of the biopharmaceutical company's stock after purchasing an additional 376,619 shares during the period. Northern Trust Corp owned approximately 0.57% of Royalty Pharma worth $84,959,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in RPRX. Franklin Resources Inc. raised its position in Royalty Pharma by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company's stock valued at $40,705,000 after purchasing an additional 70,130 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Royalty Pharma by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company's stock worth $79,888,000 after acquiring an additional 130,025 shares during the last quarter. Pallas Capital Advisors LLC purchased a new position in Royalty Pharma in the fourth quarter worth approximately $2,355,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Royalty Pharma in the 4th quarter valued at approximately $4,950,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Royalty Pharma by 303.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company's stock valued at $13,926,000 after purchasing an additional 406,123 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Stock Performance

NASDAQ RPRX traded up $0.05 on Friday, reaching $33.15. The stock had a trading volume of 4,354,648 shares, compared to its average volume of 3,304,626. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $19.11 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. The business's 50-day moving average price is $32.39 and its 200 day moving average price is $29.78. Royalty Pharma plc has a 12-month low of $24.05 and a 12-month high of $34.20.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 37.94% and a return on equity of 24.40%. As a group, equities analysts expect that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, May 16th. Royalty Pharma's dividend payout ratio (DPR) is presently 60.69%.

Wall Street Analyst Weigh In

Separately, Citigroup reiterated 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, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Royalty Pharma currently has a consensus rating of "Buy" and a consensus price target of $42.50.

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.