New South Capital Management Inc. Purchases 117,394 Shares of Royalty Pharma plc (NASDAQ:RPRX)

New South Capital Management Inc. lifted its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,466,371 shares of the biopharmaceutical company's stock after buying an additional 117,394 shares during the period. Royalty Pharma makes up about 2.9% of New South Capital Management Inc.'s investment portfolio, making the stock its 9th largest holding. New South Capital Management Inc. owned about 0.42% of Royalty Pharma worth $69,774,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Versant Capital Management Inc boosted its stake in Royalty Pharma by 5,215.0% in the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 1,043 shares during the last quarter. Blue Trust Inc. increased its position in Royalty Pharma by 362.7% during the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company's stock worth $32,000 after purchasing an additional 943 shares in the last quarter. Gladius Capital Management LP acquired a new stake in shares of Royalty Pharma during the second quarter worth $32,000. EverSource Wealth Advisors LLC grew its holdings in Royalty Pharma by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company's stock worth $76,000 after purchasing an additional 655 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Royalty Pharma by 4,335.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,750 shares of the biopharmaceutical company's stock valued at $84,000 after purchasing an additional 2,688 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Down 1.4 %

Shares of NASDAQ RPRX traded down $0.36 during midday trading on Tuesday, hitting $26.00. The company's stock had a trading volume of 3,148,244 shares, compared to its average volume of 2,591,946. Royalty Pharma plc has a 1 year low of $25.20 and a 1 year high of $31.66. The business's fifty day simple moving average is $27.72 and its two-hundred day simple moving average is $27.51. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 9.35. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 3.83 and a beta of 0.47.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $0.21 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.84 annualized dividend and a yield of 3.23%. Royalty Pharma's dividend payout ratio (DPR) is 43.52%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on RPRX shares. The Goldman Sachs Group upped their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. Finally, Citigroup reduced their target price on shares of Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Royalty Pharma has a consensus rating of "Moderate Buy" and an average price target of $41.67.

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.