Wells Fargo & Company MN Buys 15,790 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Wells Fargo & Company MN boosted its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 29.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,120 shares of the biopharmaceutical company's stock after acquiring an additional 15,790 shares during the period. Wells Fargo & Company MN's holdings in Royalty Pharma were worth $1,789,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Integrated Quantitative Investments LLC bought a new stake in shares of Royalty Pharma during the 4th quarter valued at $390,000. Prudential PLC grew its stake in Royalty Pharma by 220.1% in the fourth quarter. Prudential PLC now owns 119,443 shares of the biopharmaceutical company's stock valued at $3,047,000 after acquiring an additional 82,125 shares during the period. ExodusPoint Capital Management LP bought a new stake in shares of Royalty Pharma in the fourth quarter worth about $3,663,000. Westpac Banking Corp acquired a new stake in shares of Royalty Pharma during the fourth quarter worth about $53,000. Finally, Trexquant Investment LP lifted its holdings in shares of Royalty Pharma by 482.1% during the 4th quarter. Trexquant Investment LP now owns 520,043 shares of the biopharmaceutical company's stock valued at $13,266,000 after purchasing an additional 430,697 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Price Performance

Shares of RPRX traded down $0.17 during mid-day trading on Thursday, reaching $32.65. The company had a trading volume of 408,619 shares, compared to its average volume of 3,252,348. 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 company has a market capitalization of $18.82 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 2.31 and a beta of 0.50. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $34.20. The company's 50 day simple moving average is $32.50 and its 200 day simple moving average is $29.53.

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

Royalty Pharma Dividend Announcement

The company also recently declared 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 2.70%. The ex-dividend date of this dividend is Friday, May 16th. Royalty Pharma's payout ratio is 60.69%.

Analyst Upgrades and Downgrades

Separately, Citigroup reissued 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 given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $42.50.

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.