Versant Capital Management Inc Increases Stake in Royalty Pharma plc (NASDAQ:RPRX)

Versant Capital Management Inc raised its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 5,215.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,063 shares of the biopharmaceutical company’s stock after buying an additional 1,043 shares during the quarter. Versant Capital Management Inc’s holdings in Royalty Pharma were worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Inspire Investing LLC grew its holdings in shares of Royalty Pharma by 175.1% in the first quarter. Inspire Investing LLC now owns 43,524 shares of the biopharmaceutical company’s stock valued at $1,322,000 after purchasing an additional 27,701 shares in the last quarter. Torray Investment Partners LLC grew its holdings in shares of Royalty Pharma by 22.6% in the fourth quarter. Torray Investment Partners LLC now owns 505,740 shares of the biopharmaceutical company’s stock valued at $14,206,000 after purchasing an additional 93,107 shares in the last quarter. APG Asset Management US Inc. purchased a new position in shares of Royalty Pharma in the fourth quarter valued at $2,100,000. New Century Financial Group LLC purchased a new position in shares of Royalty Pharma in the first quarter valued at $1,091,000. Finally, Patient Capital Management LLC purchased a new position in shares of Royalty Pharma in the fourth quarter valued at $35,247,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Up 0.6 %

Shares of RPRX stock traded up $0.17 on Wednesday, hitting $27.27. The stock had a trading volume of 516,953 shares, compared to its average volume of 2,683,301. The company has a quick ratio of 12.52, a current ratio of 12.52 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average price of $27.14 and a 200 day moving average price of $28.38. The company has a market cap of $16.29 billion, a PE ratio of 20.22, a P/E/G ratio of 3.75 and a beta of 0.46. Royalty Pharma plc has a one year low of $25.20 and a one year high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.02. The firm had revenue of $568.00 million during the quarter, compared to the consensus estimate of $671.45 million. Royalty Pharma had a return on equity of 22.94% and a net margin of 35.70%. During the same period in the previous year, the company posted $1.60 earnings per share. Research analysts anticipate that Royalty Pharma plc will post 4.01 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 16th will be issued a $0.21 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.84 annualized dividend and a dividend yield of 3.08%. Royalty Pharma’s payout ratio is currently 62.69%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RPRX. Bank of America cut their target price on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, April 12th. Morgan Stanley raised their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. StockNews.com lowered shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, UBS Group lowered shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research note on Monday, June 3rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Royalty Pharma presently has an average rating of “Moderate Buy” and a consensus target price of $41.80.

Royalty Pharma Company 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.