Mackenzie Financial Corp Has $3.16 Million Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Mackenzie Financial Corp boosted its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 460.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,443 shares of the biopharmaceutical company’s stock after buying an additional 92,372 shares during the period. Mackenzie Financial Corp’s holdings in Royalty Pharma were worth $3,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornercap Investment Counsel Inc. increased its stake in Royalty Pharma by 106.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 66,932 shares of the biopharmaceutical company’s stock valued at $1,880,000 after acquiring an additional 34,483 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Royalty Pharma in the 4th quarter valued at $564,000. Koshinski Asset Management Inc. increased its stake in shares of Royalty Pharma by 28.0% in the 4th quarter. Koshinski Asset Management Inc. now owns 14,550 shares of the biopharmaceutical company’s stock valued at $409,000 after purchasing an additional 3,180 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Royalty Pharma during the 4th quarter worth $791,000. Finally, Executive Wealth Management LLC lifted its position in shares of Royalty Pharma by 9.6% during the 4th quarter. Executive Wealth Management LLC now owns 55,913 shares of the biopharmaceutical company’s stock worth $1,571,000 after buying an additional 4,886 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Royalty Pharma Stock Down 1.2 %

Shares of NASDAQ RPRX opened at $27.82 on Tuesday. The company has a 50 day simple moving average of $29.74 and a 200 day simple moving average of $28.54. The company has a debt-to-equity ratio of 0.61, a current ratio of 7.90 and a quick ratio of 7.90. Royalty Pharma plc has a 1 year low of $25.92 and a 1 year high of $36.19. The firm has a market cap of $16.62 billion, a PE ratio of 14.72 and a beta of 0.45.

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

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.02%. The ex-dividend date is Thursday, May 16th. Royalty Pharma’s dividend payout ratio is currently 44.44%.

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.