Pacific Capital Partners Ltd Purchases New Shares in Royalty Pharma PLC (NASDAQ:RPRX)

Pacific Capital Partners Ltd acquired a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 175,000 shares of the biopharmaceutical company's stock, valued at approximately $5,448,000. Royalty Pharma accounts for approximately 3.4% of Pacific Capital Partners Ltd's portfolio, making the stock its 12th biggest holding.

Other hedge funds have also made changes to their positions in the company. Merit Financial Group LLC acquired a new stake in shares of Royalty Pharma during the 1st quarter valued at about $252,000. M&T Bank Corp lifted its stake in Royalty Pharma by 23.4% in 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 last quarter. Yousif Capital Management LLC acquired a new position in shares of Royalty Pharma during the 1st quarter worth $275,000. Asset Management One Co. Ltd. raised its holdings in shares of Royalty Pharma by 8.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company's stock valued at $5,134,000 after purchasing an additional 12,148 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Royalty Pharma by 4.4% in the 1st quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company's stock valued at $636,000 after purchasing an additional 866 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

NASDAQ:RPRX traded down $0.32 during trading hours on Thursday, hitting $36.80. 2,159,158 shares of the company traded hands, compared to its average volume of 2,602,825. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $37.56. The firm has a 50-day moving average of $35.03 and a 200 day moving average of $33.23. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 2.47 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The business had revenue of $839.00 million during the quarter, compared to analysts' expectations of $724.69 million. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. On average, analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, August 15th. Royalty Pharma's dividend payout ratio is 47.57%.

Wall Street Analysts Forecast Growth

RPRX has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Citigroup boosted their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley lifted their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Royalty Pharma has an average rating of "Buy" and a consensus price target 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.