Geode Capital Management LLC Raises Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Geode Capital Management LLC increased its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,265,786 shares of the biopharmaceutical company’s stock after purchasing an additional 417,490 shares during the period. Geode Capital Management LLC’s holdings in Royalty Pharma were worth $205,562,000 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. Blue Trust Inc. boosted its position in shares of Royalty Pharma by 362.7% in the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 943 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Royalty Pharma by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 655 shares during the period. Transamerica Financial Advisors Inc. lifted its position in Royalty Pharma by 99.9% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,459 shares of the biopharmaceutical company’s stock worth $98,000 after acquiring an additional 1,729 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in Royalty Pharma by 274.7% in the 2nd quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company’s stock worth $168,000 after acquiring an additional 4,683 shares during the period. Finally, Lake Street Advisors Group LLC acquired a new stake in Royalty Pharma in the third quarter valued at approximately $211,000. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Trading Down 1.5 %

RPRX opened at $24.84 on Monday. Royalty Pharma plc has a 12-month low of $24.73 and a 12-month high of $31.66. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market capitalization of $14.64 billion, a PE ratio of 12.87, a P/E/G ratio of 4.36 and a beta of 0.46. The firm’s fifty day moving average price is $26.71 and its 200 day moving average price is $27.23.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were given a dividend of $0.21 per share. The ex-dividend date was Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.38%. Royalty Pharma’s payout ratio is 43.52%.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of recent research reports. Citigroup reduced their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Royalty Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $41.67.

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.