Mirae Asset Global Investments Co. Ltd. Acquires 8,908 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,898 shares of the biopharmaceutical company’s stock after buying an additional 8,908 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Royalty Pharma were worth $2,497,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in Royalty Pharma by 89.8% in the 3rd quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 451 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Royalty Pharma by 112.0% during the third quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 531 shares during the period. Captrust Financial Advisors increased its position in shares of Royalty Pharma by 210.8% during the second quarter. Captrust Financial Advisors now owns 805 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 546 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Royalty Pharma during the first quarter valued at approximately $113,000. Finally, CWM LLC increased its position in shares of Royalty Pharma by 75.9% during the third quarter. CWM LLC now owns 4,782 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 2,064 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Price Performance

Shares of RPRX stock opened at $27.89 on Friday. The stock’s fifty day simple moving average is $29.79 and its 200 day simple moving average is $28.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 7.90 and a quick ratio of 7.90. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 0.78 and a beta of 0.45. Royalty Pharma plc has a one year low of $25.92 and a one year high of $36.48.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.03 by $0.12. The business had revenue of $736.00 million for the quarter, compared to analyst estimates of $702.90 million. Royalty Pharma had a return on equity of 26.93% and a net margin of 48.22%. On average, analysts expect that Royalty Pharma plc will post 3.95 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Thursday, May 16th. Royalty Pharma’s dividend payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

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

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.