22,092 Shares in Royalty Pharma PLC $RPRX Bought by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. acquired 22,092 shares of Royalty Pharma PLC, valuing the investment at approximately $688,000.
• Royalty Pharma announced a quarterly dividend of $0.22 per share, equating to an annualized dividend of $0.88 and a yield of 2.4%.
• Several institutional investors, including Wells Fargo and Invesco, have increased their stakes in Royalty Pharma, with institutional ownership currently at 54.35%.

Cookson Peirce & Co. Inc. acquired a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 22,092 shares of the biopharmaceutical company's stock, valued at approximately $688,000.

A number of other hedge funds also recently modified their holdings of the stock. Louisbourg Investments Inc. acquired a new stake in shares of Royalty Pharma during the first quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB grew its holdings in Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 414 shares in the last quarter. Allworth Financial LP grew its holdings in Royalty Pharma by 41.6% during the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 452 shares in the last quarter. Transce3nd LLC purchased a new position in Royalty Pharma in the fourth quarter worth $61,000. Finally, Friedenthal Financial purchased a new position in Royalty Pharma in the first quarter worth $77,000. Institutional investors own 54.35% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RPRX shares. Wall Street Zen raised Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Morgan Stanley increased their price objective on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Citigroup raised their target price on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $48.00.

Royalty Pharma Stock Up 0.0%

Royalty Pharma stock traded up $0.0030 during mid-day trading on Tuesday, reaching $35.9230. 1,509,516 shares of the company were exchanged, compared to its average volume of 4,350,925. The business has a fifty day moving average of $36.02 and a 200 day moving average of $33.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $20.95 billion, a P/E ratio of 20.76, a PEG ratio of 2.37 and a beta of 0.55. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm had revenue of $578.67 million during the quarter, compared to analyst estimates of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. Research analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, August 15th. Royalty Pharma's payout ratio is currently 50.87%.

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.