Teacher Retirement System of Texas Boosts Position in Royalty Pharma plc (NASDAQ:RPRX)

Teacher Retirement System of Texas raised its stake in Royalty Pharma plc (NASDAQ:RPRX) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,392 shares of the biopharmaceutical company’s stock after purchasing an additional 12,302 shares during the period. Teacher Retirement System of Texas’ holdings in Royalty Pharma were worth $2,944,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. purchased a new position in shares of Royalty Pharma in the 3rd quarter valued at $359,000. Charles Schwab Investment Management Inc. boosted its stake in Royalty Pharma by 58.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,001,603 shares of the biopharmaceutical company’s stock valued at $84,915,000 after acquiring an additional 1,103,341 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of Royalty Pharma by 108.5% during the third quarter. Raymond James Trust N.A. now owns 24,858 shares of the biopharmaceutical company’s stock worth $703,000 after purchasing an additional 12,936 shares during the last quarter. Cerity Partners LLC increased its position in shares of Royalty Pharma by 11.1% during the third quarter. Cerity Partners LLC now owns 32,896 shares of the biopharmaceutical company’s stock worth $931,000 after purchasing an additional 3,291 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Royalty Pharma by 10.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 30,694 shares of the biopharmaceutical company’s stock valued at $868,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $33.76 on Wednesday. The firm has a market cap of $19.46 billion, a P/E ratio of 23.28, a P/E/G ratio of 2.31 and a beta of 0.47. Royalty Pharma plc has a 52-week low of $24.05 and a 52-week high of $34.20. The business’s 50-day moving average price is $32.40 and its 200 day moving average price is $28.78. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX) last released its 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 return on equity of 24.40% and a net margin of 37.94%. On average, equities research analysts expect that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 21st were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Friday, February 21st. This is a boost from Royalty Pharma’s previous quarterly dividend of $0.21. Royalty Pharma’s dividend payout ratio (DPR) is 60.69%.

Analyst Upgrades and Downgrades

Separately, TD Cowen upgraded Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Royalty Pharma presently has an average rating of “Buy” and an average target price 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.