Metis Global Partners LLC Acquires 30,959 Shares of Royalty Pharma PLC $RPRX

Metis Global Partners LLC boosted its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 83.9% in the second quarter, Holdings Channel.com reports. The fund owned 67,880 shares of the biopharmaceutical company’s stock after buying an additional 30,959 shares during the quarter. Metis Global Partners LLC’s holdings in Royalty Pharma were worth $2,446,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. USA Financial Formulas bought a new position in shares of Royalty Pharma in the 2nd quarter worth $32,000. Summit Securities Group LLC acquired a new position in Royalty Pharma in the first quarter valued at about $36,000. WPG Advisers LLC bought a new position in Royalty Pharma during the first quarter worth about $39,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Royalty Pharma by 42.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock worth $49,000 after buying an additional 402 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of Royalty Pharma by 113.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,428 shares of the biopharmaceutical company’s stock worth $51,000 after buying an additional 760 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $38.56 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $41.24. The company’s 50 day moving average price is $36.50 and its two-hundred day moving average price is $35.48. The company has a market capitalization of $22.49 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 2.03 and a beta of 0.56.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.06. Royalty Pharma had a net margin of 32.51% and a return on equity of 26.36%. The company had revenue of $609.29 million during the quarter, compared to analysts’ expectations of $765.01 million. On average, analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, November 14th. Royalty Pharma’s dividend payout ratio is 66.67%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RPRX. Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Wall Street Zen upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. The Goldman Sachs Group began coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They set a “buy” rating and a $42.00 price target on the stock. Morgan Stanley decreased their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Finally, Citigroup raised their price objective on Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $46.00.

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.