Martingale Asset Management L P Invests $436,000 in Royalty Pharma PLC $RPRX

Key Points

• Martingale Asset Management L P has acquired a $436,000 stake in Royalty Pharma PLC, buying 14,014 shares during the first quarter.
• Royalty Pharma has announced a quarterly dividend of $0.22 per share, with an annualized yield of 2.4%, set to be paid on September 10th.
• Analyst ratings are mixed, with Morgan Stanley raising their price target to $54.00, while other analysts have downgraded the stock from "buy" to "hold".

Martingale Asset Management L P acquired a new stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,014 shares of the biopharmaceutical company's stock, valued at approximately $436,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RPRX. Dimensional Fund Advisors LP grew its position in shares of Royalty Pharma by 52.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,680,535 shares of the biopharmaceutical company's stock worth $42,866,000 after buying an additional 580,787 shares during the period. MML Investors Services LLC bought a new position in Royalty Pharma in the fourth quarter valued at approximately $1,194,000. Voya Investment Management LLC lifted its position in shares of Royalty Pharma by 13.9% in the fourth quarter. Voya Investment Management LLC now owns 57,955 shares of the biopharmaceutical company's stock worth $1,478,000 after purchasing an additional 7,076 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in shares of Royalty Pharma by 44.5% in the fourth quarter. Tudor Investment Corp ET AL now owns 735,027 shares of the biopharmaceutical company's stock worth $18,751,000 after purchasing an additional 226,274 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Royalty Pharma by 12.8% during the fourth quarter. Northern Trust Corp now owns 3,330,429 shares of the biopharmaceutical company's stock worth $84,959,000 after buying an additional 376,619 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on RPRX. Citigroup upped their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Morgan Stanley increased their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen cut shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. One equities research 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 a consensus price target of $48.00.

Royalty Pharma Trading Up 1.0%

NASDAQ:RPRX traded up $0.36 on Friday, reaching $35.98. 2,993,986 shares of the stock traded hands, compared to its average volume of 4,289,359. The firm has a market capitalization of $20.98 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The company's 50 day moving average is $36.26 and its 200-day moving average is $34.02. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. Royalty Pharma PLC has a 1-year low of $24.05 and a 1-year high of $38.00.

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

Royalty Pharma Announces Dividend

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 given 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 dividend yield of 2.4%. Royalty Pharma's dividend payout ratio (DPR) is 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.