Y Intercept Hong Kong Ltd Acquires New Position in Royalty Pharma PLC (NASDAQ:RPRX)

Y Intercept Hong Kong Ltd bought a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,649 shares of the biopharmaceutical company's stock, valued at approximately $238,000.

A number of other institutional investors have also recently added to or reduced their stakes in RPRX. Louisbourg Investments Inc. acquired a new position in shares of Royalty Pharma in the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Royalty Pharma by 76.4% during the 1st 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 during the period. Allworth Financial LP lifted its position in shares of Royalty Pharma by 41.6% during the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 452 shares during the period. Westpac Banking Corp acquired a new position in shares of Royalty Pharma during the 4th quarter valued at $53,000. Finally, National Bank of Canada FI lifted its position in shares of Royalty Pharma by 21.8% during the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 371 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Trading Up 0.8%

NASDAQ:RPRX traded up $0.31 during midday trading on Friday, reaching $37.11. 1,878,469 shares of the stock traded hands, compared to its average volume of 2,650,952. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $37.56. The stock has a market capitalization of $20.86 billion, a P/E ratio of 20.06, a PEG ratio of 2.47 and a beta of 0.55. The company has a fifty day moving average of $35.21 and a 200 day moving average of $33.34.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $724.69 million. On average, research analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Finally, Morgan Stanley raised their price target 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. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $49.00.

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.