M&T Bank Corp Increases Stock Position in Royalty Pharma PLC (NASDAQ:RPRX)

M&T Bank Corp increased its position in Royalty Pharma PLC (NASDAQ:RPRX) by 23.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,967 shares of the biopharmaceutical company’s stock after acquiring an additional 5,500 shares during the period. M&T Bank Corp’s holdings in Royalty Pharma were worth $902,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Louisbourg Investments Inc. purchased a new position in Royalty Pharma in the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB raised its holdings in Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 414 shares during the last quarter. Westpac Banking Corp purchased a new stake in Royalty Pharma during the 4th quarter valued at $53,000. National Bank of Canada FI raised its stake in 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 valued at $53,000 after buying an additional 371 shares during the last quarter. Finally, Transce3nd LLC purchased a new stake in Royalty Pharma during the 4th quarter valued at $61,000. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley set a $54.00 target price on shares of Royalty Pharma and gave the company an “overweight” rating in a research note on Thursday. Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a research note on Friday, March 28th. Finally, Wall Street Zen lowered shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Sunday, June 29th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Royalty Pharma presently has a consensus rating of “Buy” and a consensus price target of $48.33.

Royalty Pharma Trading Up 1.1%

Shares of RPRX stock opened at $36.24 on Tuesday. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $36.56. The firm has a fifty day moving average price of $34.25 and a 200-day moving average price of $32.48. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $20.38 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.85 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. As a group, equities analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Friday, May 16th. Royalty Pharma’s dividend payout ratio is currently 47.57%.

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.