Empowered Funds LLC Buys New Shares in Royalty Pharma PLC $RPRX

Key Points

• Empowered Funds LLC has made a new investment in Royalty Pharma PLC, purchasing 257,414 shares valued at approximately $8.01 million in the first quarter.
• Royalty Pharma recently declared a quarterly dividend of $0.22 per share, representing an annualized dividend yield of 2.4%.
• Several analysts have updated their price targets for Royalty Pharma, with Morgan Stanley raising it from $51.00 to $54.00 and Citigroup from $40.00 to $42.00, reflecting a consensus rating of "Buy."

Empowered Funds LLC bought a new stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 257,414 shares of the biopharmaceutical company's stock, valued at approximately $8,013,000.

Several other institutional investors also recently modified their holdings of RPRX. Louisbourg Investments Inc. bought a new position in shares of Royalty Pharma in the first quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB lifted its stake in Royalty Pharma by 76.4% in 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 during the last quarter. Summit Securities Group LLC purchased a new position in Royalty Pharma in the first quarter valued at approximately $36,000. WPG Advisers LLC purchased a new position in Royalty Pharma in the first quarter valued at approximately $39,000. Finally, Allworth Financial LP lifted its stake in Royalty Pharma by 41.6% in the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 452 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley upped their price objective on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Citigroup upped their price objective on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen downgraded Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $48.00.

Royalty Pharma Price Performance

Shares of RPRX stock traded up $0.06 on Tuesday, reaching $35.21. The company's stock had a trading volume of 816,711 shares, compared to its average volume of 4,320,030. 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 12-month low of $24.05 and a 12-month high of $38.00. The company has a market capitalization of $20.53 billion, a P/E ratio of 20.34, a PEG ratio of 2.27 and a beta of 0.58. The stock's 50 day simple moving average is $36.35 and its 200-day simple moving average is $34.31.

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

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, August 15th. Royalty Pharma's dividend payout ratio is currently 50.87%.

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.