American Century Companies Inc. Has $2.32 Million Position in Royalty Pharma PLC $RPRX

American Century Companies Inc. lifted its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 10.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,501 shares of the biopharmaceutical company’s stock after purchasing an additional 7,341 shares during the period. American Century Companies Inc.’s holdings in Royalty Pharma were worth $2,319,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Applied Finance Capital Management LLC increased its holdings in shares of Royalty Pharma by 3.0% in the first quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company’s stock valued at $351,000 after purchasing an additional 329 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Royalty Pharma by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company’s stock valued at $1,238,000 after purchasing an additional 349 shares in the last quarter. Sherbrooke Park Advisers LLC increased its holdings in shares of Royalty Pharma by 1.1% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company’s stock valued at $890,000 after purchasing an additional 380 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Royalty Pharma by 76.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 414 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Royalty Pharma by 41.6% in the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 452 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of analyst reports. Wall Street Zen raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley boosted their price target on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, Citigroup boosted their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, Royalty Pharma has a consensus rating of “Buy” and an average price target of $48.00.

Royalty Pharma Trading Up 1.0%

RPRX opened at $35.98 on Monday. The stock has a market capitalization of $20.98 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.35 and a beta of 0.58. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $38.00. The firm’s fifty day simple moving average is $36.28 and its 200 day simple moving average is $34.07. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $578.67 million for the quarter, compared to analysts’ expectations of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. As a group, research analysts anticipate that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 15th. Royalty Pharma’s payout ratio is currently 50.87%.

Royalty Pharma 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.