China Universal Asset Management Co. Ltd. Boosts Holdings in Royalty Pharma plc (NASDAQ:RPRX)

China Universal Asset Management Co. Ltd. raised its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,208 shares of the biopharmaceutical company’s stock after buying an additional 8,018 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Royalty Pharma were worth $2,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Swedbank AB boosted its position in shares of Royalty Pharma by 10.3% during the fourth quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company’s stock worth $310,308,000 after acquiring an additional 1,136,800 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Royalty Pharma by 58.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock valued at $84,915,000 after purchasing an additional 1,103,341 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Royalty Pharma by 44.7% during the third quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock valued at $85,809,000 after purchasing an additional 936,900 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Royalty Pharma during the third quarter valued at about $14,898,000. Finally, Geode Capital Management LLC increased its holdings in shares of Royalty Pharma by 6.1% in the third quarter. Geode Capital Management LLC now owns 7,265,786 shares of the biopharmaceutical company’s stock worth $205,562,000 after purchasing an additional 417,490 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Wall Street Analyst Weigh In

RPRX has been the subject of a number of research reports. TD Cowen raised Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup reduced their price target 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. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $41.67.

Royalty Pharma Price Performance

NASDAQ:RPRX opened at $31.58 on Friday. The firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of 16.36 and a beta of 0.47. 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 business has a 50 day simple moving average of $27.34 and a 200-day simple moving average of $27.53. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $32.21.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.79%. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, February 21st. Royalty Pharma’s payout ratio is presently 43.52%.

Royalty Pharma 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.