HB Wealth Management LLC Buys Shares of 12,608 Royalty Pharma PLC (NASDAQ:RPRX)

Key Points

• HB Wealth Management LLC acquired a total of 12,608 shares of Royalty Pharma PLC, valued at approximately $392,000, as stated in their recent SEC filing.
• The company reported earnings of $1.06 EPS for the last quarter, exceeding analysts' estimates by $0.07 and achieving revenues of $839 million compared to expected revenues of $724.69 million.
• Royalty Pharma announced a quarterly dividend of $0.22 per share, yielding 2.4%, with the payment scheduled for September 10th to shareholders on record as of August 15th.

HB Wealth Management LLC purchased a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,608 shares of the biopharmaceutical company's stock, valued at approximately $392,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Louisbourg Investments Inc. bought a new position in shares of Royalty Pharma during the first quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB raised its stake 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 acquiring an additional 414 shares during the last quarter. Allworth Financial LP raised 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 valued at $49,000 after purchasing an additional 452 shares during the last quarter. Westpac Banking Corp bought a new position in Royalty Pharma during the 4th quarter valued at approximately $53,000. Finally, National Bank of Canada FI raised its position in Royalty Pharma by 21.8% during the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 371 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Price Performance

Shares of RPRX traded up $0.77 during midday trading on Monday, hitting $37.88. 2,944,214 shares of the company traded hands, compared to its average volume of 2,744,876. The firm has a 50 day moving average of $35.21 and a 200-day moving average of $33.36. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $37.91. The stock has a market cap of $21.30 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 2.47 and a beta of 0.55. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. The business had revenue of $839.00 million during the quarter, compared to analyst estimates of $724.69 million. On average, analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, August 15th. Royalty Pharma's dividend payout ratio (DPR) is 47.57%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RPRX shares. Citigroup increased their price target on shares of 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 lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Finally, Morgan Stanley boosted their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $49.00.

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.