188,460 Shares in Royalty Pharma plc (NASDAQ:RPRX) Bought by Inlet Private Wealth LLC

Inlet Private Wealth LLC bought a new position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 188,460 shares of the biopharmaceutical company's stock, valued at approximately $5,332,000. Royalty Pharma accounts for 1.4% of Inlet Private Wealth LLC's holdings, making the stock its 25th biggest holding.

A number of other institutional investors have also recently made changes to their positions in RPRX. Swedbank AB bought a new position in shares of Royalty Pharma in the 1st quarter worth $251,461,000. New South Capital Management Inc. bought a new stake in shares of Royalty Pharma during the first quarter worth about $44,384,000. Homestead Advisers Corp increased its position in shares of Royalty Pharma by 40.7% during the first quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company's stock worth $57,502,000 after acquiring an additional 547,000 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in shares of Royalty Pharma by 2,974.4% in the 2nd quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company's stock worth $8,931,000 after acquiring an additional 327,659 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Royalty Pharma by 69.0% in the 2nd quarter. AQR Capital Management LLC now owns 785,567 shares of the biopharmaceutical company's stock valued at $20,715,000 after acquiring an additional 320,606 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Analysts Set New Price Targets

RPRX has been the topic of a number of recent research reports. The Goldman Sachs Group raised their target price on Royalty Pharma from $50.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. Morgan Stanley upped their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, July 11th. Finally, StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Royalty Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

Royalty Pharma Stock Performance

Shares of RPRX stock traded down $0.17 during trading hours on Thursday, hitting $28.05. 1,851,793 shares of the company were exchanged, compared to its average volume of 2,612,691. The stock has a market capitalization of $16.76 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 4.05 and a beta of 0.46. The firm has a fifty day simple moving average of $27.91 and a 200 day simple moving average of $27.70. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 0.78. Royalty Pharma plc has a 52-week low of $25.20 and a 52-week high of $31.66.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. The firm had revenue of $537.00 million during the quarter, compared to the consensus estimate of $600.83 million. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. During the same quarter last year, the company posted $0.85 EPS. Research analysts predict that Royalty Pharma plc will post 4.04 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma's dividend payout ratio (DPR) is currently 62.69%.

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.