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. lifted its position in shares of 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 and Exchange Commission. The firm owned 573,603 shares of the biopharmaceutical company's stock after purchasing an additional 101,390 shares during the period. Royalty Pharma accounts for approximately 1.2% of Punch & Associates Investment Management Inc.'s portfolio, making the stock its 21st largest position. Punch & Associates Investment Management Inc. owned 0.10% of Royalty Pharma worth $17,856,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RPRX. Applied Finance Capital Management LLC raised its position in Royalty Pharma by 3.0% during the 1st quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock valued at $351,000 after purchasing an additional 329 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in shares of Royalty Pharma by 0.7% in the 4th 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 last quarter. Sherbrooke Park Advisers LLC increased its stake 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 valued at $890,000 after buying an additional 380 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings 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 valued at $30,000 after acquiring an additional 414 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in Royalty Pharma by 41.6% in the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 452 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Stock Up 2.0%

NASDAQ RPRX traded up $0.70 during trading hours on Tuesday, reaching $36.50. 4,204,795 shares of the company's stock traded hands, compared to its average volume of 3,727,097. 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 current ratio of 1.26 and a quick ratio of 1.26. The firm has a 50-day simple moving average of $36.35 and a 200 day simple moving average of $34.23. The firm has a market cap of $21.29 billion, a PE ratio of 21.10, a PEG ratio of 2.24 and a beta of 0.58.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced 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. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The business had revenue of $578.67 million during the quarter, compared to the consensus estimate of $750.06 million. Sell-side 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 will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 15th. Royalty Pharma's dividend payout ratio is currently 50.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RPRX. Morgan Stanley boosted their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Citigroup lifted their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen raised shares of 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 given a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price 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.