Patient Capital Management LLC boosted its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 40.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,875,089 shares of the biopharmaceutical company's stock after purchasing an additional 833,894 shares during the period. Royalty Pharma comprises 3.4% of Patient Capital Management LLC's holdings, making the stock its 10th largest position. Patient Capital Management LLC owned about 0.49% of Royalty Pharma worth $73,344,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of RPRX. Barclays PLC lifted its stake in Royalty Pharma by 16.3% in the 3rd quarter. Barclays PLC now owns 308,887 shares of the biopharmaceutical company's stock valued at $8,737,000 after purchasing an additional 43,339 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Royalty Pharma during the fourth quarter worth approximately $486,000. Brooklyn Investment Group boosted its holdings in shares of Royalty Pharma by 1,006.9% during the fourth quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 876 shares during the period. Ballentine Partners LLC bought a new stake in shares of Royalty Pharma during the fourth quarter worth approximately $200,000. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Royalty Pharma during the fourth quarter worth approximately $467,000. 54.35% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on RPRX. Citigroup restated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Morgan Stanley began coverage on Royalty Pharma in a report on Friday. They set an "overweight" rating and a $51.00 price objective for the company. Finally, StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Royalty Pharma presently has a consensus rating of "Buy" and a consensus price target of $42.50.
View Our Latest Stock Report on RPRX
Royalty Pharma Price Performance
Shares of RPRX stock traded up $0.90 during trading on Friday, hitting $34.02. The company had a trading volume of 4,933,445 shares, compared to its average volume of 3,341,547. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $19.61 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. The stock's 50-day moving average price is $32.39 and its 200 day moving average price is $29.97. Royalty Pharma plc has a one year low of $24.05 and a one year high of $34.20.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.07. The business had revenue of $839.00 million during the quarter, compared to analysts' expectations of $724.69 million. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. Equities analysts expect that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.
Royalty Pharma Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, May 16th. Royalty Pharma's dividend payout ratio (DPR) is currently 47.57%.
About Royalty Pharma
(
Free Report)
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.
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