California Public Employees Retirement System Has $60.03 Million Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

California Public Employees Retirement System raised its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,136,899 shares of the biopharmaceutical company’s stock after purchasing an additional 110,768 shares during the quarter. California Public Employees Retirement System’s holdings in Royalty Pharma were worth $60,025,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in Royalty Pharma by 89.8% in the third quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 451 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Royalty Pharma by 112.0% in the third quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 531 shares during the period. Lindbrook Capital LLC increased its stake in Royalty Pharma by 485.2% in the fourth quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 1,999 shares in the last quarter. Rakuten Securities Inc. acquired a new position in shares of Royalty Pharma during the fourth quarter valued at about $110,000. Finally, CWM LLC boosted its position in shares of Royalty Pharma by 75.9% during the 3rd quarter. CWM LLC now owns 4,782 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 2,064 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Trading Up 0.5 %

Shares of RPRX stock opened at $28.11 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 7.90 and a current ratio of 7.90. The company has a market capitalization of $16.79 billion, a price-to-earnings ratio of 14.87 and a beta of 0.45. Royalty Pharma plc has a 52-week low of $25.92 and a 52-week high of $35.76. The company has a 50-day simple moving average of $29.65 and a two-hundred day simple moving average of $28.54.

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

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Thursday, May 16th. Royalty Pharma’s payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

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

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.