Royalty Pharma plc (NASDAQ:RPRX) Stock Holdings Increased by M&T Bank Corp

M&T Bank Corp grew its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 4.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 18,749 shares of the biopharmaceutical company’s stock after acquiring an additional 779 shares during the quarter. M&T Bank Corp’s holdings in Royalty Pharma were worth $531,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Van ECK Associates Corp lifted its holdings in Royalty Pharma by 171.1% in the third quarter. Van ECK Associates Corp now owns 101,500 shares of the biopharmaceutical company’s stock worth $2,777,000 after purchasing an additional 64,057 shares during the period. Summit Global Investments bought a new stake in shares of Royalty Pharma during the 3rd quarter worth about $735,000. Two Sigma Advisers LP lifted its stake in shares of Royalty Pharma by 44.7% in the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock worth $85,809,000 after acquiring an additional 936,900 shares during the period. New South Capital Management Inc. lifted its stake in shares of Royalty Pharma by 5.0% in the 3rd quarter. New South Capital Management Inc. now owns 2,466,371 shares of the biopharmaceutical company’s stock worth $69,774,000 after acquiring an additional 117,394 shares during the period. Finally, Cannon Global Investment Management LLC bought a new position in shares of Royalty Pharma in the third quarter valued at approximately $976,000. Institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RPRX shares. Citigroup cut their target price on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.67.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX opened at $25.12 on Wednesday. The stock’s fifty day simple moving average is $26.61 and its 200 day simple moving average is $27.21. The stock has a market capitalization of $14.80 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 4.36 and a beta of 0.46. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a 52-week low of $24.70 and a 52-week high of $31.66.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.84 annualized dividend and a yield of 3.34%. Royalty Pharma’s payout ratio is presently 43.52%.

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.