Twin Tree Management LP Reduces Position in Royalty Pharma plc (NASDAQ:RPRX)

Twin Tree Management LP lessened its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 39.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,431 shares of the biopharmaceutical company’s stock after selling 29,820 shares during the quarter. Twin Tree Management LP’s holdings in Royalty Pharma were worth $1,159,000 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 RPRX. Swedbank AB raised its position in shares of Royalty Pharma by 10.3% during the 4th quarter. Swedbank AB now owns 12,164,170 shares of the biopharmaceutical company’s stock valued at $310,308,000 after purchasing an additional 1,136,800 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 period. Two Sigma Advisers LP raised its position in shares of Royalty Pharma by 44.7% during the 3rd 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 during the period. Raymond James Financial Inc. bought a new stake in shares of Royalty Pharma during the 4th quarter valued at $19,990,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Royalty Pharma during the 3rd quarter valued at $14,898,000. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX opened at $33.41 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $19.26 billion, a P/E ratio of 23.04, a P/E/G ratio of 2.31 and a beta of 0.47. The firm’s fifty day moving average is $31.88 and its two-hundred day moving average is $28.62. Royalty Pharma plc has a 52-week low of $24.05 and a 52-week high of $34.20.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, analysts anticipate that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were issued a $0.22 dividend. This is an increase from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Friday, February 21st. Royalty Pharma’s payout ratio is currently 60.69%.

Wall Street Analysts Forecast Growth

Separately, TD Cowen upgraded shares of Royalty Pharma to a “strong-buy” rating in a research report on Tuesday, December 24th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $41.60.

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.