Advisor Resource Council Purchases New Position in Royalty Pharma PLC (NASDAQ:RPRX)

Advisor Resource Council purchased a new position in Royalty Pharma PLC (NASDAQ:RPRX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 90,577 shares of the biopharmaceutical company’s stock, valued at approximately $2,595,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Allworth Financial LP grew its holdings in shares of Royalty Pharma by 417.6% during the 4th quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 877 shares during the period. Louisbourg Investments Inc. bought a new stake in shares of Royalty Pharma during the first quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 414 shares in the last quarter. Riverview Trust Co grew its stake in Royalty Pharma by 3,953.3% in the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 1,186 shares during the period. Finally, Rakuten Securities Inc. raised its holdings in Royalty Pharma by 160.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 1,003 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on RPRX. Citigroup reissued a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. Wall Street Zen lowered shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Finally, Morgan Stanley assumed coverage on shares of Royalty Pharma in a research report on Friday, May 16th. They set an “overweight” rating and a $51.00 price target for the company. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Royalty Pharma currently has a consensus rating of “Buy” and an average price target of $47.33.

Royalty Pharma Stock Up 1.0%

RPRX stock opened at $34.91 on Friday. The business has a 50 day moving average of $33.08 and a 200 day moving average of $31.15. The firm has a market cap of $19.63 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.79 and a beta of 0.48. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $35.38. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $724.69 million. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. On average, research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a $0.22 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.88 annualized dividend and a yield of 2.52%. Royalty Pharma’s dividend payout ratio (DPR) is presently 47.57%.

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.