Patient Capital Management LLC increased its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 40.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,875,089 shares of the biopharmaceutical company's stock after acquiring an additional 833,894 shares during the period. Royalty Pharma makes up approximately 3.4% of Patient Capital Management LLC's portfolio, making the stock its 10th biggest holding. Patient Capital Management LLC owned 0.49% of Royalty Pharma worth $73,344,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brooklyn Investment Group raised its position in Royalty Pharma by 1,006.9% during the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 876 shares during the last quarter. Allworth Financial LP raised its position in Royalty Pharma by 417.6% during the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 877 shares during the last quarter. Riverview Trust Co raised its position in Royalty Pharma by 3,953.3% during the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 1,186 shares during the last quarter. Fifth Third Bancorp raised its position in Royalty Pharma by 187.1% during the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 997 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Royalty Pharma by 31.3% during the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 376 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.
Wall Street Analyst Weigh In
RPRX has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of Royalty Pharma in a research report on Friday. They issued an "overweight" rating and a $51.00 price objective for the company. StockNews.com upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $42.50.
View Our Latest Stock Analysis on Royalty Pharma
Royalty Pharma Stock Up 0.0%
NASDAQ RPRX traded up $0.02 during mid-day trading on Monday, reaching $34.04. 845,221 shares of the company's stock traded hands, compared to its average volume of 3,337,508. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $34.27. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The company has a market cap of $19.62 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 2.31 and a beta of 0.49. The company has a fifty day simple moving average of $32.39 and a 200-day simple moving average of $30.01.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. The firm had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. As a group, equities research analysts expect that Royalty Pharma plc will post 4.49 EPS for the current year.
Royalty Pharma Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.59%. Royalty Pharma's dividend payout ratio is currently 47.57%.
Royalty Pharma Company Profile
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Free Report)
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.
Further Reading
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