Raymond James Financial Inc. Buys Shares of 783,633 Royalty Pharma plc (NASDAQ:RPRX)

Raymond James Financial Inc. bought a new position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 783,633 shares of the biopharmaceutical company's stock, valued at approximately $19,990,000. Raymond James Financial Inc. owned approximately 0.13% of Royalty Pharma at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Keene & Associates Inc. raised its stake in Royalty Pharma by 1.9% in the fourth quarter. Keene & Associates Inc. now owns 19,420 shares of the biopharmaceutical company's stock valued at $495,000 after buying an additional 370 shares in the last quarter. National Bank of Canada FI raised its position 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 acquiring an additional 371 shares in the last quarter. Blue Trust Inc. lifted its stake in Royalty Pharma by 31.3% during the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 376 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Royalty Pharma by 0.9% in the fourth quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company's stock valued at $1,068,000 after purchasing an additional 388 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Royalty Pharma by 0.5% in the fourth quarter. Arizona State Retirement System now owns 110,637 shares of the biopharmaceutical company's stock valued at $2,822,000 after purchasing an additional 537 shares during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Royalty Pharma has an average rating of "Buy" and an average price target of $42.50.

Royalty Pharma Stock Performance

Royalty Pharma stock traded up $0.08 during midday trading on Friday, hitting $32.11. 792,428 shares of the company's stock were exchanged, compared to its average volume of 4,469,597. The firm's 50 day simple moving average is $32.54 and its 200 day simple moving average is $29.39. Royalty Pharma plc has a 12-month low of $24.05 and a 12-month high of $34.20. 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 $18.51 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. Equities research analysts predict that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, May 16th. Royalty Pharma's dividend payout ratio (DPR) is presently 60.69%.

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.