Empowered Funds LLC Makes New $8.01 Million Investment 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 purchased a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 257,414 shares of the biopharmaceutical company's stock, valued at approximately $8,013,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Applied Finance Capital Management LLC grew its position in Royalty Pharma by 3.0% during the 1st quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock worth $351,000 after purchasing an additional 329 shares during the period. Nissay Asset Management Corp Japan ADV grew its position in Royalty Pharma by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock worth $1,238,000 after purchasing an additional 349 shares during the period. Sherbrooke Park Advisers LLC grew its position in Royalty Pharma by 1.1% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock worth $890,000 after purchasing an additional 380 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in Royalty Pharma by 76.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after purchasing an additional 414 shares during the period. Finally, Allworth Financial LP grew its position in Royalty Pharma by 41.6% during the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 452 shares during the period. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Trading Down 0.9%

RPRX stock opened at $36.18 on Thursday. The company's 50-day simple moving average is $36.35 and its 200-day simple moving average is $34.25. 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 $21.10 billion, a P/E ratio of 20.91, a PEG ratio of 2.28 and a beta of 0.58.

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

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, August 15th. Royalty Pharma's dividend payout ratio is 50.87%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RPRX shares. Wall Street Zen raised Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Morgan Stanley increased their price target on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Citigroup increased their price target on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat, Royalty Pharma presently has a consensus rating of "Buy" and a consensus price target of $48.00.

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.

Want to see what other hedge funds are holding RPRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royalty Pharma PLC (NASDAQ:RPRX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.