The Manufacturers Life Insurance Company Has $15.56 Million Position in Royalty Pharma plc (NASDAQ:RPRX)

The Manufacturers Life Insurance Company grew its stake in Royalty Pharma plc (NASDAQ:RPRXFree Report) by 55.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 554,005 shares of the biopharmaceutical company’s stock after purchasing an additional 196,775 shares during the period. The Manufacturers Life Insurance Company owned about 0.09% of Royalty Pharma worth $15,562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Beck Bode LLC boosted its position in Royalty Pharma by 0.6% during the 4th quarter. Beck Bode LLC now owns 73,042 shares of the biopharmaceutical company’s stock worth $2,052,000 after buying an additional 464 shares during the period. Toroso Investments LLC boosted its position in Royalty Pharma by 0.9% during the 3rd quarter. Toroso Investments LLC now owns 57,102 shares of the biopharmaceutical company’s stock worth $1,550,000 after buying an additional 504 shares during the period. PNC Financial Services Group Inc. boosted its position in Royalty Pharma by 10.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,509 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 536 shares during the period. Treasurer of the State of North Carolina boosted its position in Royalty Pharma by 0.4% during the 3rd quarter. Treasurer of the State of North Carolina now owns 173,196 shares of the biopharmaceutical company’s stock worth $4,701,000 after buying an additional 642 shares during the period. Finally, Allworth Financial LP boosted its position in Royalty Pharma by 76.7% during the 4th quarter. Allworth Financial LP now owns 1,684 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 731 shares during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RPRX has been the topic of several recent research reports. The Goldman Sachs Group cut their target price on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Bank of America lowered their price target on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, April 12th. UBS Group lowered shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a report on Monday, June 3rd. JPMorgan Chase & Co. lowered their price target on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Finally, StockNews.com lowered shares of Royalty Pharma from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Royalty Pharma has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Read Our Latest Stock Analysis on RPRX

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $27.46 on Monday. The company has a fifty day moving average of $27.94 and a 200-day moving average of $28.61. The firm has a market capitalization of $16.41 billion, a P/E ratio of 20.49, a P/E/G ratio of 3.58 and a beta of 0.47. The company has a quick ratio of 12.52, a current ratio of 12.52 and a debt-to-equity ratio of 0.62. Royalty Pharma plc has a twelve month low of $25.92 and a twelve month high of $34.65.

Royalty Pharma (NASDAQ:RPRXGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The company had revenue of $568.00 million during the quarter, compared to analyst estimates of $671.45 million. Royalty Pharma had a net margin of 35.70% and a return on equity of 22.94%. During the same quarter in the previous year, the business posted $1.60 EPS. As a group, sell-side analysts anticipate that Royalty Pharma plc will post 4.03 EPS for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be paid a $0.21 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.84 annualized dividend and a dividend yield of 3.06%. Royalty Pharma’s dividend payout ratio is currently 62.69%.

Royalty Pharma Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Royalty Pharma (NASDAQ:RPRX)

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