Royalty Pharma PLC (NASDAQ:RPRX) Shares Acquired by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. increased its stake in Royalty Pharma PLC by 462.1%, acquiring an additional 896,555 shares during the first quarter, resulting in a total ownership of 1,090,591 shares valued at approximately $33.95 million.
• Royalty Pharma reported a quarterly earnings per share (EPS) of $1.06, exceeding analysts' expectations of $0.99, and had a revenue of $839 million during the last quarter.
• The company announced a quarterly dividend of $0.22 per share, with a payout ratio of 47.57%, highlighting a competitive yield of 2.4% for shareholders.

Jupiter Asset Management Ltd. boosted its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 462.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,090,591 shares of the biopharmaceutical company's stock after purchasing an additional 896,555 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 0.19% of Royalty Pharma worth $33,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Applied Finance Capital Management LLC boosted its position in shares of Royalty Pharma by 3.0% in the first quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock worth $351,000 after buying an additional 329 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in shares of Royalty Pharma by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock worth $1,238,000 after buying an additional 349 shares during the period. National Bank of Canada FI lifted its position in shares of Royalty Pharma by 21.8% during the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 371 shares in the last quarter. Sherbrooke Park Advisers LLC lifted its position in shares of Royalty Pharma by 1.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock worth $890,000 after purchasing an additional 380 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of 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 purchasing an additional 414 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on RPRX. 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. Morgan Stanley increased their target price on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Wall Street Zen downgraded Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $49.00.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX traded down $0.78 during mid-day trading on Wednesday, hitting $37.14. The company had a trading volume of 2,919,542 shares, compared to its average volume of 4,406,020. The stock has a market cap of $20.88 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.52 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. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.56 and a quick ratio of 1.56. The firm's 50 day simple moving average is $35.42 and its two-hundred day simple moving average is $33.44.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. As a group, equities research analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

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