Uniplan Investment Counsel Inc. Purchases 11,904 Shares of Royalty Pharma PLC $RPRX

Key Points

• Uniplan Investment Counsel Inc. increased its holdings in Royalty Pharma PLC by 29.8%, owning 51,838 shares valued at approximately $1.6 million.
• Royalty Pharma recently announced a quarterly dividend of $0.22 per share, which will be paid on September 10th, representing an annual yield of 2.4%.
• Wall Street analysts have a consensus rating of “Buy” for Royalty Pharma, with an average target price of $48.00 following raises in price targets by multiple brokerages.

Uniplan Investment Counsel Inc. lifted its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 29.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,838 shares of the biopharmaceutical company's stock after buying an additional 11,904 shares during the period. Uniplan Investment Counsel Inc.'s holdings in Royalty Pharma were worth $1,614,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Punch & Associates Investment Management Inc. raised its holdings in shares of Royalty Pharma by 21.5% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 573,603 shares of the biopharmaceutical company's stock worth $17,856,000 after purchasing an additional 101,390 shares during the period. Petrus Trust Company LTA bought a new stake in shares of Royalty Pharma in the 1st quarter worth approximately $227,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Royalty Pharma by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,990 shares of the biopharmaceutical company's stock worth $2,490,000 after purchasing an additional 13,489 shares during the period. Eventide Asset Management LLC raised its holdings in shares of Royalty Pharma by 6.9% in the 1st quarter. Eventide Asset Management LLC now owns 879,809 shares of the biopharmaceutical company's stock worth $27,411,000 after purchasing an additional 56,419 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Royalty Pharma by 7.5% in the 1st quarter. Alliancebernstein L.P. now owns 1,241,051 shares of the biopharmaceutical company's stock worth $38,634,000 after purchasing an additional 86,873 shares during the period. Hedge funds and other institutional investors own 54.35% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup lifted their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Wall Street Zen cut shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Morgan Stanley boosted their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $48.00.

Royalty Pharma Price Performance

Shares of Royalty Pharma stock traded down $0.34 during trading on Friday, hitting $36.36. The stock had a trading volume of 3,652,487 shares, compared to its average volume of 3,744,514. The firm has a market cap of $21.20 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 2.29 and a beta of 0.58. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $38.00. The business's 50-day moving average is $36.36 and its 200 day moving average is $34.29. 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 (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share 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 analysts' expectations of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. As a group, sell-side analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

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

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.