Ieq Capital LLC Has $2.19 Million Position in Royalty Pharma PLC $RPRX

Key Points

• Ieq Capital LLC increased its holdings in Royalty Pharma PLC by 64.5%, acquiring an additional 27,597 shares during the first quarter, bringing their total holdings to 70,412 shares worth approximately $2.19 million.
• Wall Street analysts have rated Royalty Pharma with a consensus rating of "Buy" and set a target price of $48.00, with Morgan Stanley and Citigroup recently boosting their price objectives for the stock.
• Royalty Pharma has announced a quarterly dividend of $0.22 per share, which represents an annualized dividend yield of 2.4%, to be paid on September 10th to investors of record on August 15th.

Ieq Capital LLC increased its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 64.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,412 shares of the biopharmaceutical company's stock after purchasing an additional 27,597 shares during the quarter. Ieq Capital LLC's holdings in Royalty Pharma were worth $2,192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Merit Financial Group LLC bought a new position in shares of Royalty Pharma during the first quarter valued at $252,000. M&T Bank Corp lifted its holdings in shares of Royalty Pharma by 23.4% during the first quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company's stock valued at $902,000 after acquiring an additional 5,500 shares during the period. Yousif Capital Management LLC bought a new position in shares of Royalty Pharma during the first quarter valued at $275,000. Asset Management One Co. Ltd. lifted its holdings in shares of Royalty Pharma by 8.0% during the first quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company's stock valued at $5,134,000 after acquiring an additional 12,148 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Royalty Pharma by 4.4% during the first quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company's stock valued at $636,000 after acquiring an additional 866 shares during the period. 54.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RPRX shares. Citigroup lifted their price objective on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Morgan Stanley lifted their price target on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $48.00.

Royalty Pharma Trading Down 2.2%

NASDAQ:RPRX traded down $0.83 on Friday, hitting $36.07. 9,231,241 shares of the stock were exchanged, compared to its average volume of 3,155,449. The stock has a market capitalization of $21.04 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 2.35 and a beta of 0.58. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $38.00. 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 company's 50-day moving average price is $36.34 and its 200 day moving average price is $34.19.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The firm had revenue of $578.67 million during the quarter, compared to analysts' expectations of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. On average, equities research analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 yield of 2.4%. The ex-dividend date of this dividend is Friday, August 15th. Royalty Pharma's payout ratio is currently 50.87%.

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.