New South Capital Management Inc. Has $69.77 Million Stake in Royalty Pharma plc (NASDAQ:RPRX)

New South Capital Management Inc. increased its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,466,371 shares of the biopharmaceutical company’s stock after acquiring an additional 117,394 shares during the quarter. Royalty Pharma comprises 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 approximately 0.42% of Royalty Pharma worth $69,774,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Versant Capital Management Inc raised 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 purchasing an additional 1,043 shares in the last quarter. Gladius Capital Management LP acquired a new stake in Royalty Pharma in the second quarter valued at approximately $32,000. Blue Trust Inc. grew its stake in shares of Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 943 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 655 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Royalty Pharma by 4,335.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,750 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 2,688 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Trading Up 0.1 %

Shares of RPRX stock traded up $0.03 during trading hours on Tuesday, hitting $26.39. 37,089 shares of the company were exchanged, compared to its average volume of 2,577,740. The firm has a market cap of $15.66 billion, a P/E ratio of 13.66, a P/E/G ratio of 3.83 and a beta of 0.47. Royalty Pharma plc has a fifty-two week low of $25.20 and a fifty-two week high of $31.66. The company has a 50 day simple moving average of $27.72 and a two-hundred day simple moving average of $27.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 9.35 and a current ratio of 1.54.

Royalty Pharma Dividend Announcement

The company also recently announced 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. This represents a $0.84 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma’s payout ratio is 43.52%.

Analysts Set New Price Targets

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

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.