Edgestream Partners L.P. Makes New $659,000 Investment in Royalty Pharma PLC (NASDAQ:RPRX)

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

A number of other hedge funds have also recently added to or reduced their stakes in RPRX. Proficio Capital Partners LLC acquired a new stake in shares of Royalty Pharma in the fourth quarter valued at about $786,000. PNC Financial Services Group Inc. increased its position in Royalty Pharma by 53.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,806 shares of the biopharmaceutical company's stock worth $301,000 after purchasing an additional 4,129 shares during the last quarter. Corient Private Wealth LLC increased its position in Royalty Pharma by 86.0% during the fourth quarter. Corient Private Wealth LLC now owns 46,249 shares of the biopharmaceutical company's stock worth $1,180,000 after purchasing an additional 21,383 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Royalty Pharma by 38.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 475,825 shares of the biopharmaceutical company's stock valued at $12,139,000 after acquiring an additional 132,675 shares during the last quarter. Finally, Xponance Inc. increased its position in shares of Royalty Pharma by 16.2% during the fourth quarter. Xponance Inc. now owns 38,696 shares of the biopharmaceutical company's stock valued at $987,000 after acquiring an additional 5,402 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Royalty Pharma Price Performance

NASDAQ RPRX traded down $0.09 on Wednesday, reaching $36.01. The company's stock had a trading volume of 2,164,517 shares, compared to its average volume of 3,720,029. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $36.89. 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 stock has a market cap of $20.25 billion, a PE ratio of 19.46, a PEG ratio of 2.40 and a beta of 0.50. The firm's 50 day moving average is $34.68 and its two-hundred day moving average is $32.88.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. The firm had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. As a group, sell-side analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.88 annualized dividend and a yield of 2.44%. Royalty Pharma's dividend payout ratio (DPR) is currently 47.57%.

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.