Swedbank AB Raises Stake in Royalty Pharma plc (NASDAQ:RPRX)

Swedbank AB boosted its position in Royalty Pharma plc (NASDAQ:RPRX) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,164,170 shares of the biopharmaceutical company’s stock after purchasing an additional 1,136,800 shares during the quarter. Swedbank AB owned approximately 2.06% of Royalty Pharma worth $310,308,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Royalty Pharma by 58.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock valued at $84,915,000 after purchasing an additional 1,103,341 shares during the period. Two Sigma Advisers LP increased its stake in Royalty Pharma by 44.7% during the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock worth $85,809,000 after buying an additional 936,900 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Royalty Pharma during the 3rd quarter valued at about $14,898,000. Geode Capital Management LLC raised its holdings in shares of Royalty Pharma by 6.1% during the 3rd quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock worth $205,562,000 after acquiring an additional 417,490 shares during the period. Finally, AQR Capital Management LLC increased its stake in Royalty Pharma by 69.0% during the second quarter. AQR Capital Management LLC now owns 785,567 shares of the biopharmaceutical company’s stock worth $20,715,000 after acquiring an additional 320,606 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

Shares of RPRX traded up $0.21 during midday trading on Wednesday, hitting $32.15. 139,956 shares of the company traded hands, compared to its average volume of 4,048,033. The stock has a 50-day moving average of $27.01 and a 200-day moving average of $27.44. Royalty Pharma plc has a one year low of $24.05 and a one year high of $32.19. The firm has a market cap of $18.94 billion, a P/E ratio of 16.65 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54.

Royalty Pharma Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 21st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, February 21st. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s payout ratio is currently 43.52%.

Analyst Ratings Changes

A number of research firms have recently weighed in on RPRX. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Citigroup decreased their price target on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, TD Cowen raised shares of Royalty Pharma to a “strong-buy” rating in a report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Royalty Pharma currently has an average rating of “Buy” and a consensus target price of $41.67.

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.