Punch & Associates Investment Management Inc. Purchases 101,390 Shares of Royalty Pharma PLC $RPRX

Key Points

• Punch & Associates Investment Management Inc. increased its holdings in Royalty Pharma by 21.5% during the first quarter, now owning 573,603 shares worth approximately $17.86 million.
• Royalty Pharma announced a quarterly dividend of $0.22 per share, with a yield of 2.4%, scheduled for payment on September 10th.
• Analysts have a consensus rating of "Buy" for Royalty Pharma, with an average price target of $48.00, indicating positive market sentiment.

Punch & Associates Investment Management Inc. boosted its stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 21.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 573,603 shares of the biopharmaceutical company's stock after purchasing an additional 101,390 shares during the quarter. Royalty Pharma comprises 1.2% of Punch & Associates Investment Management Inc.'s investment portfolio, making the stock its 21st biggest position. Punch & Associates Investment Management Inc. owned 0.10% of Royalty Pharma worth $17,856,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RPRX. Victory Capital Management Inc. raised its stake in Royalty Pharma by 270.4% in the first quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company's stock valued at $112,788,000 after purchasing an additional 2,644,923 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Royalty Pharma by 2,543.7% in the first quarter. Los Angeles Capital Management LLC now owns 1,081,128 shares of the biopharmaceutical company's stock valued at $33,656,000 after purchasing an additional 1,040,234 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in Royalty Pharma in the first quarter valued at about $31,591,000. Bank of America Corp DE raised its stake in Royalty Pharma by 46.7% in the fourth quarter. Bank of America Corp DE now owns 2,985,585 shares of the biopharmaceutical company's stock valued at $76,162,000 after purchasing an additional 950,880 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its stake in Royalty Pharma by 462.1% in the first quarter. Jupiter Asset Management Ltd. now owns 1,090,591 shares of the biopharmaceutical company's stock valued at $33,950,000 after purchasing an additional 896,555 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Trading Up 1.4%

Shares of Royalty Pharma stock traded up $0.52 during trading on Thursday, hitting $36.70. The company's stock had a trading volume of 3,664,330 shares, compared to its average volume of 4,342,439. The stock has a market cap of $21.40 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 2.28 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 stock has a 50-day moving average price of $36.35 and a two-hundred day moving average price of $34.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26.

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

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.88 annualized dividend and a yield of 2.4%. Royalty Pharma's payout ratio is presently 50.87%.

Analyst Ratings Changes

A number of research analysts recently commented on RPRX shares. Citigroup boosted their price target 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 raised their price objective on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen raised Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $48.00.

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.