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

New South Capital Management Inc. raised its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 5.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,466,371 shares of the biopharmaceutical company’s stock after purchasing an additional 117,394 shares during the period. Royalty Pharma makes up approximately 2.9% of New South Capital Management Inc.’s portfolio, making the stock its 9th biggest holding. New South Capital Management Inc.’s holdings in Royalty Pharma were worth $69,774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its stake in 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 buying an additional 2,688 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Royalty Pharma during the 1st quarter valued at $2,961,000. Forsta AP Fonden raised its stake in shares of Royalty Pharma by 43.0% during the 1st quarter. Forsta AP Fonden now owns 98,800 shares of the biopharmaceutical company’s stock worth $3,001,000 after purchasing an additional 29,700 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Royalty Pharma by 24.5% in the 1st quarter. Russell Investments Group Ltd. now owns 402,143 shares of the biopharmaceutical company’s stock worth $12,224,000 after buying an additional 79,176 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Royalty Pharma by 9.7% during the first quarter. ProShare Advisors LLC now owns 31,305 shares of the biopharmaceutical company’s stock valued at $951,000 after buying an additional 2,764 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Trading Up 0.1 %

NASDAQ:RPRX traded up $0.03 during trading hours on Tuesday, reaching $26.39. The company’s stock had a trading volume of 37,089 shares, compared to its average volume of 2,577,740. The firm has a 50-day simple moving average of $27.72 and a 200-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 plc has a 1 year low of $25.20 and a 1 year high of $31.66. The firm has a market capitalization of $15.66 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 3.83 and a beta of 0.47.

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 paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Friday, November 15th. Royalty Pharma’s payout ratio is 43.52%.

Analysts Set New Price Targets

A number of research firms recently commented on RPRX. The Goldman Sachs Group lifted their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a 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 Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.