LPL Financial LLC Acquires 45,236 Shares of Royalty Pharma PLC $RPRX

Key Points

• LPL Financial LLC increased its stake in Royalty Pharma PLC by 189.2% during the first quarter, owning a total of 69,141 shares now valued at $2.15 million.
• A number of analysts have upgraded Royalty Pharma's stock, with Citigroup increasing the target price from $40.00 to $42.00 and Morgan Stanley raising it from $51.00 to $54.00.
• Royalty Pharma announced a quarterly dividend of $0.22 per share, representing an annualized dividend yield of 2.4%, with the payment scheduled for September 10th.

LPL Financial LLC boosted its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 189.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,141 shares of the biopharmaceutical company's stock after acquiring an additional 45,236 shares during the period. LPL Financial LLC's holdings in Royalty Pharma were worth $2,152,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Louisbourg Investments Inc. bought a new stake in Royalty Pharma during the 1st quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB increased its stake 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 valued at $30,000 after purchasing an additional 414 shares in the last quarter. Allworth Financial LP increased its stake 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 in the last quarter. Transce3nd LLC bought a new stake in Royalty Pharma during the 4th quarter valued at about $61,000. Finally, Friedenthal Financial bought a new stake in Royalty Pharma during the 1st quarter valued at about $77,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

Shares of RPRX stock traded down $0.57 during trading hours on Thursday, reaching $36.31. The company had a trading volume of 2,529,890 shares, compared to its average volume of 2,976,985. The business has a fifty day moving average price of $36.12 and a 200-day moving average price of $33.83. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $38.00. The firm has a market cap of $21.17 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.41 and a beta of 0.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26.

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

Royalty Pharma Dividend Announcement

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

Analyst Upgrades and Downgrades

RPRX has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Morgan Stanley raised their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price 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.