Thrivent Financial for Lutherans Raises Position in Royalty Pharma plc (NASDAQ:RPRX)

Thrivent Financial for Lutherans boosted its stake in Royalty Pharma plc (NASDAQ:RPRX) by 38.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 475,825 shares of the biopharmaceutical company’s stock after buying an additional 132,675 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Royalty Pharma worth $12,139,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RPRX. Brooklyn Investment Group lifted its holdings in Royalty Pharma by 1,006.9% in the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 876 shares during the period. Allworth Financial LP lifted its holdings in Royalty Pharma by 417.6% in the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 877 shares during the period. Riverview Trust Co lifted its holdings in Royalty Pharma by 3,953.3% in the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 1,186 shares during the period. Fifth Third Bancorp lifted its holdings in Royalty Pharma by 187.1% in the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 997 shares during the period. Finally, Rakuten Securities Inc. lifted its holdings in Royalty Pharma by 160.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 1,003 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $33.70 on Friday. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $34.20. The company has a 50 day simple moving average of $32.25 and a two-hundred day simple moving average of $28.72. The company has a market capitalization of $19.43 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 2.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, topping 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%. Analysts expect that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 21st were issued a $0.22 dividend. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Friday, February 21st. Royalty Pharma’s payout ratio is presently 60.69%.

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.