Royalty Pharma plc (NASDAQ:RPRX) Shares Acquired by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. grew its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 34.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,545 shares of the biopharmaceutical company’s stock after acquiring an additional 5,501 shares during the period. First Trust Direct Indexing L.P.’s holdings in Royalty Pharma were worth $605,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of RPRX. Xponance Inc. grew its stake in shares of Royalty Pharma by 38.8% during the third quarter. Xponance Inc. now owns 18,218 shares of the biopharmaceutical company’s stock worth $494,000 after purchasing an additional 5,090 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Royalty Pharma by 75.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 209,576 shares of the biopharmaceutical company’s stock valued at $5,612,000 after acquiring an additional 90,282 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Royalty Pharma by 103.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,990 shares of the biopharmaceutical company’s stock valued at $2,171,000 after acquiring an additional 40,582 shares in the last quarter. Inspire Investing LLC acquired a new position in Royalty Pharma in the third quarter valued at $364,000. Finally, TD Asset Management Inc boosted its stake in Royalty Pharma by 49.4% in the third quarter. TD Asset Management Inc now owns 290,483 shares of the biopharmaceutical company’s stock valued at $7,884,000 after acquiring an additional 96,026 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of research reports. Bank of America reduced their target price on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, April 12th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. reduced their target price on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Finally, The Goldman Sachs Group reduced their target price on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $46.75.

Royalty Pharma Trading Down 1.2 %

Shares of RPRX opened at $28.41 on Monday. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average is $29.36 and its two-hundred day moving average is $28.59. Royalty Pharma plc has a twelve month low of $25.92 and a twelve month high of $35.70. The firm has a market capitalization of $16.97 billion, a P/E ratio of 15.03 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.12. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. The company had revenue of $736.00 million for the quarter, compared to analyst estimates of $702.90 million. On average, research analysts predict that Royalty Pharma plc will post 3.95 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 2.96%. Royalty Pharma’s payout ratio is currently 44.44%.

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.