Hillsdale Investment Management Inc. Raises Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Hillsdale Investment Management Inc. increased its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,250 shares of the biopharmaceutical company’s stock after purchasing an additional 1,850 shares during the period. Hillsdale Investment Management Inc.’s holdings in Royalty Pharma were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Royalty Pharma in the 4th quarter valued at about $119,740,000. Adage Capital Partners GP L.L.C. grew its position in shares of Royalty Pharma by 13.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 9,840,000 shares of the biopharmaceutical company’s stock worth $267,058,000 after buying an additional 1,190,000 shares in the last quarter. Morgan Stanley increased its position in shares of Royalty Pharma by 1.5% in the 3rd quarter. Morgan Stanley now owns 48,132,615 shares of the biopharmaceutical company’s stock worth $1,306,319,000 after purchasing an additional 702,754 shares during the last quarter. California Public Employees Retirement System raised its stake in Royalty Pharma by 49.2% during the third quarter. California Public Employees Retirement System now owns 2,026,131 shares of the biopharmaceutical company’s stock valued at $54,989,000 after buying an additional 667,827 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Royalty Pharma by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 39,437,354 shares of the biopharmaceutical company’s stock worth $1,070,330,000 after acquiring an additional 589,558 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RPRX has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price objective on Royalty Pharma from $56.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. JPMorgan Chase & Co. lowered their price objective on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Bank of America reduced their price objective on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Finally, StockNews.com cut Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $27.17 on Wednesday. The stock has a market cap of $16.23 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 4.48 and a beta of 0.47. The company has a debt-to-equity ratio of 0.62, a current ratio of 12.52 and a quick ratio of 12.52. Royalty Pharma plc has a 12 month low of $25.92 and a 12 month high of $34.65. The stock’s 50 day moving average price is $28.80 and its 200 day moving average price is $28.64.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The business had revenue of $568.00 million during the quarter, compared to analyst estimates of $671.45 million. Royalty Pharma had a return on equity of 22.94% and a net margin of 35.70%. During the same quarter in the prior year, the firm posted $1.60 earnings per share. Equities research analysts anticipate that Royalty Pharma plc will post 4.03 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 3.09%. Royalty Pharma’s dividend payout ratio (DPR) is 62.69%.

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.