Hillsdale Investment Management Inc. Acquires 2,900 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Hillsdale Investment Management Inc. raised its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 16.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,150 shares of the biopharmaceutical company’s stock after purchasing an additional 2,900 shares during the period. Hillsdale Investment Management Inc.’s holdings in Royalty Pharma were worth $612,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new position in shares of Royalty Pharma during the fourth quarter valued at approximately $119,740,000. California Public Employees Retirement System grew its holdings in shares of Royalty Pharma by 5.5% during the fourth quarter. California Public Employees Retirement System now owns 2,136,899 shares of the biopharmaceutical company’s stock valued at $60,025,000 after buying an additional 110,768 shares during the last quarter. Homestead Advisers Corp grew its holdings in shares of Royalty Pharma by 40.7% during the first quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock valued at $57,502,000 after buying an additional 547,000 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Royalty Pharma by 10.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,856,998 shares of the biopharmaceutical company’s stock valued at $56,396,000 after buying an additional 175,261 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Royalty Pharma by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,770,988 shares of the biopharmaceutical company’s stock valued at $49,747,000 after buying an additional 122,084 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

RPRX stock traded up $0.18 on Tuesday, hitting $28.65. The company had a trading volume of 326,969 shares, compared to its average volume of 2,672,957. The stock’s 50-day simple moving average is $26.91 and its 200 day simple moving average is $28.38. The stock has a market cap of $17.12 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 3.70 and a beta of 0.46. Royalty Pharma plc has a 12-month low of $25.20 and a 12-month high of $31.66. The company has a current ratio of 12.52, a quick ratio of 12.52 and a debt-to-equity ratio of 0.62.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Royalty Pharma had a net margin of 35.70% and a return on equity of 22.94%. The firm had revenue of $568.00 million during the quarter, compared to the consensus estimate of $671.45 million. During the same quarter in the previous year, the firm posted $1.60 EPS. As a group, equities research analysts expect that Royalty Pharma plc will post 4.01 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 16th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, August 16th. Royalty Pharma’s payout ratio is 62.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Bank of America cut their price target on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, April 12th. StockNews.com cut shares of Royalty Pharma from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Finally, UBS Group cut shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Monday, June 3rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Royalty Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.80.

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.