Edgestream Partners L.P. Purchases New Shares in Royalty Pharma PLC (NASDAQ:RPRX)

Edgestream Partners L.P. acquired a new position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,158 shares of the biopharmaceutical company's stock, valued at approximately $659,000.

Several other institutional investors also recently added to or reduced their stakes in RPRX. Louisbourg Investments Inc. purchased a new position in Royalty Pharma in the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB raised its position in Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after purchasing an additional 414 shares during the period. Allworth Financial LP grew its stake in shares of Royalty Pharma by 41.6% during the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 452 shares during the last quarter. Westpac Banking Corp purchased a new position in shares of Royalty Pharma in the fourth quarter worth about $53,000. Finally, National Bank of Canada FI boosted its holdings in Royalty Pharma by 21.8% during the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 371 shares during the period. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Performance

Shares of NASDAQ:RPRX traded up $0.18 on Tuesday, hitting $35.83. The company's stock had a trading volume of 832,117 shares, compared to its average volume of 4,551,619. The stock's 50-day moving average is $34.49 and its two-hundred day moving average is $32.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market capitalization of $20.15 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 2.37 and a beta of 0.50. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $36.89.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. The firm had revenue of $839.00 million during the quarter, compared to analysts' expectations of $724.69 million. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. On average, equities research analysts forecast 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 Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, August 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.46%. Royalty Pharma's payout ratio is 47.57%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their target price on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Finally, Citigroup increased their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $49.00.

Royalty Pharma 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.