Cary Street Partners Financial LLC Makes New Investment in Royalty Pharma PLC (NASDAQ:RPRX)

Key Points

• Cary Street Partners Financial LLC has invested approximately $610,000 to acquire 19,580 shares in Royalty Pharma PLC during the first quarter.
• Royalty Pharma recently declared a quarterly dividend of $0.22 per share, with a dividend yield of 2.3%, to be paid on September 10th.
• Equities analysts have upgraded Royalty Pharma's stock ratings, with Citigroup and Morgan Stanley raising their price targets to $42.00 and $54.00, respectively.

Cary Street Partners Financial LLC acquired a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 19,580 shares of the biopharmaceutical company's stock, valued at approximately $610,000.

A number of other large investors have also recently made changes to their positions in the stock. Louisbourg Investments Inc. bought a new stake in Royalty Pharma in the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB increased its stake in Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 414 shares during the last quarter. Allworth Financial LP increased its stake in Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 452 shares during the last quarter. National Bank of Canada FI increased its stake in Royalty Pharma by 21.8% in the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 371 shares during the last quarter. Finally, Transce3nd LLC bought a new stake in Royalty Pharma in the 4th quarter worth approximately $61,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Down 3.7%

NASDAQ RPRX traded down $1.39 during trading hours on Monday, hitting $36.19. 3,529,939 shares of the company were exchanged, compared to its average volume of 4,402,659. The company has a 50 day moving average of $35.69 and a two-hundred day moving average of $33.61. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $38.00. The firm has a market cap of $20.35 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.45 and a beta of 0.55.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. The company had revenue of $578.67 million for the quarter, compared to the consensus estimate of $750.06 million. Equities research analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. Royalty Pharma's dividend payout ratio is 50.87%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup increased their target price on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Wall Street Zen upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Morgan Stanley increased their target price on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $49.00.

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.