Patient Capital Management LLC Has $73.34 Million Position in Royalty Pharma plc (NASDAQ:RPRX)

Patient Capital Management LLC boosted its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 40.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,875,089 shares of the biopharmaceutical company’s stock after buying an additional 833,894 shares during the period. Royalty Pharma comprises about 3.4% of Patient Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Patient Capital Management LLC’s holdings in Royalty Pharma were worth $73,344,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew 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 buying an additional 43,339 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Royalty Pharma during the 4th quarter worth about $486,000. Brooklyn Investment Group boosted its stake in Royalty Pharma by 1,006.9% during the 4th quarter. Brooklyn Investment Group now owns 963 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 876 shares during the period. Ballentine Partners LLC acquired a new stake in Royalty Pharma in the 4th quarter valued at approximately $200,000. Finally, Impact Partnership Wealth LLC bought a new position in Royalty Pharma in the 4th quarter worth approximately $467,000. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RPRX has been the subject of a number of research reports. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Monday. Citigroup restated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $42.50.

Royalty Pharma Stock Performance

NASDAQ RPRX opened at $32.82 on Wednesday. Royalty Pharma plc has a twelve month low of $24.05 and a twelve month high of $34.20. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The stock has a market cap of $18.92 billion, a P/E ratio of 22.63, a PEG ratio of 2.31 and a beta of 0.49. The company’s 50-day simple moving average is $32.37 and its 200 day simple moving average is $29.86.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. The business had revenue of $839.00 million for the quarter, compared to analyst estimates of $724.69 million. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, research analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, May 16th. Royalty Pharma’s payout ratio is currently 47.57%.

Royalty Pharma 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.