Royalty Pharma PLC (NASDAQ:RPRX) Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. reduced its stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,907,469 shares of the biopharmaceutical company's stock after selling 49,656 shares during the period. Royalty Pharma accounts for approximately 4.4% of New South Capital Management Inc.'s investment portfolio, making the stock its 6th biggest position. New South Capital Management Inc. owned approximately 0.50% of Royalty Pharma worth $90,510,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truist Financial Corp acquired a new position in shares of Royalty Pharma in the fourth quarter valued at approximately $371,000. Proficio Capital Partners LLC bought a new stake in Royalty Pharma in the 4th quarter valued at $786,000. US Bancorp DE boosted its stake in Royalty Pharma by 151.3% in the 4th quarter. US Bancorp DE now owns 9,565 shares of the biopharmaceutical company's stock valued at $244,000 after purchasing an additional 5,759 shares during the period. Metis Global Partners LLC grew its holdings in Royalty Pharma by 65.0% in the 4th quarter. Metis Global Partners LLC now owns 35,861 shares of the biopharmaceutical company's stock valued at $915,000 after buying an additional 14,124 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in Royalty Pharma by 806.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,431 shares of the biopharmaceutical company's stock worth $113,000 after purchasing an additional 3,942 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX traded up $0.31 during midday trading on Wednesday, hitting $36.19. The stock had a trading volume of 3,857,769 shares, compared to its average volume of 3,680,859. The company's 50-day moving average price is $33.62 and its 200-day moving average price is $31.74. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $36.33. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $20.35 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 1.85 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. The business had revenue of $839.00 million for the quarter, compared to analysts' expectations of $724.69 million. As a group, equities research analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.43%. Royalty Pharma's dividend payout ratio (DPR) is currently 47.57%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RPRX. Wall Street Zen cut shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday. Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. Finally, Morgan Stanley began coverage on Royalty Pharma in a report on Friday, May 16th. They issued an "overweight" rating and a $51.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Royalty Pharma has a consensus rating of "Buy" and an average target price of $47.33.

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.