KLP Kapitalforvaltning AS Acquires Shares of 123,300 Royalty Pharma plc (NASDAQ:RPRX)

KLP Kapitalforvaltning AS bought a new position in shares of Royalty Pharma plc (NASDAQ:RPRX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 123,300 shares of the biopharmaceutical company’s stock, valued at approximately $3,145,000.

Several other large investors have also recently modified their holdings of the business. Hillsdale Investment Management Inc. lifted its position in shares of Royalty Pharma by 2.5% during the fourth quarter. Hillsdale Investment Management Inc. now owns 24,250 shares of the biopharmaceutical company’s stock worth $619,000 after acquiring an additional 600 shares in the last quarter. Sei Investments Co. lifted its holdings in Royalty Pharma by 58.1% during the 4th quarter. Sei Investments Co. now owns 109,557 shares of the biopharmaceutical company’s stock worth $2,795,000 after purchasing an additional 40,271 shares in the last quarter. American Century Companies Inc. boosted its stake in Royalty Pharma by 5.8% in the 4th quarter. American Century Companies Inc. now owns 67,160 shares of the biopharmaceutical company’s stock worth $1,713,000 after purchasing an additional 3,671 shares during the period. Virtu Financial LLC purchased a new position in Royalty Pharma during the 4th quarter valued at about $467,000. Finally, Sciencast Management LP bought a new stake in shares of Royalty Pharma during the fourth quarter valued at about $998,000. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

NASDAQ:RPRX opened at $31.56 on Thursday. The stock has a market cap of $18.19 billion, a P/E ratio of 21.77, a PEG ratio of 2.31 and a beta of 0.47. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $32.42 and its two-hundred day moving average price is $28.80. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $34.20.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, equities analysts predict that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were given a $0.22 dividend. The ex-dividend date was Friday, February 21st. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 2.79%. Royalty Pharma’s payout ratio is 60.69%.

Wall Street Analysts Forecast Growth

Separately, TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Royalty Pharma presently has an average rating of “Buy” and an average target price of $41.60.

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.