Baird Financial Group Inc. Makes New $1.59 Million Investment in Royalty Pharma plc (NASDAQ:RPRX)

Baird Financial Group Inc. purchased a new position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 62,191 shares of the biopharmaceutical company's stock, valued at approximately $1,586,000.

Other large investors have also bought and sold shares of the company. Barclays PLC lifted its holdings in Royalty Pharma by 16.3% in the third quarter. Barclays PLC now owns 308,887 shares of the biopharmaceutical company's stock worth $8,737,000 after buying an additional 43,339 shares during the period. GAMMA Investing LLC raised its position in shares of Royalty Pharma by 31.4% in the 4th quarter. GAMMA Investing LLC now owns 2,471 shares of the biopharmaceutical company's stock worth $63,000 after acquiring an additional 590 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in shares of Royalty Pharma in the 4th quarter valued at approximately $2,355,000. Assenagon Asset Management S.A. bought a new stake in shares of Royalty Pharma during the fourth quarter valued at approximately $486,000. Finally, Brooklyn Investment Group boosted its position in shares of Royalty Pharma by 1,006.9% during the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 876 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com raised Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Monday. Morgan Stanley began coverage on shares of Royalty Pharma in a research note on Friday. They issued an "overweight" rating and a $51.00 price target for the company. Finally, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $42.50.

Royalty Pharma Stock Up 2.7%

Royalty Pharma stock traded up $0.90 during mid-day trading on Friday, hitting $34.02. The company had a trading volume of 4,933,445 shares, compared to its average volume of 3,340,239. Royalty Pharma plc has a 12 month low of $24.05 and a 12 month high of $34.20. The company has a market capitalization of $19.61 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. The stock's 50 day moving average price is $32.36 and its two-hundred day moving average price is $29.92. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping 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 company had revenue of $839.00 million for the quarter, compared to analysts' expectations of $724.69 million. As a group, sell-side analysts anticipate that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a $0.22 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.59%. Royalty Pharma's dividend payout ratio is presently 47.57%.

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.