Merit Financial Group LLC Makes New Investment in Royalty Pharma plc (NASDAQ:RPRX)

Merit Financial Group LLC purchased a new stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,097 shares of the biopharmaceutical company's stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RPRX. Allspring Global Investments Holdings LLC boosted its holdings in Royalty Pharma by 303.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company's stock valued at $13,926,000 after purchasing an additional 406,123 shares in the last quarter. Values First Advisors Inc. boosted its holdings in shares of Royalty Pharma by 53.3% in the fourth quarter. Values First Advisors Inc. now owns 15,963 shares of the biopharmaceutical company's stock valued at $407,000 after acquiring an additional 5,551 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Royalty Pharma by 25.3% in the fourth quarter. Van ECK Associates Corp now owns 127,140 shares of the biopharmaceutical company's stock valued at $3,243,000 after acquiring an additional 25,640 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of Royalty Pharma by 3.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 152,783 shares of the biopharmaceutical company's stock valued at $3,902,000 after acquiring an additional 4,427 shares during the period. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Royalty Pharma in the fourth quarter valued at approximately $230,000. 54.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on RPRX. Morgan Stanley began coverage on Royalty Pharma in a report on Friday, May 16th. They issued an "overweight" rating and a $51.00 price objective for the company. Citigroup reissued a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Finally, Wall Street Zen downgraded Royalty Pharma from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $47.33.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock traded up $0.26 during trading hours on Monday, hitting $35.10. 3,618,986 shares of the company were exchanged, compared to its average volume of 3,610,915. Royalty Pharma plc has a 1 year low of $24.05 and a 1 year high of $35.38. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average of $32.90 and a 200-day moving average of $31.04. The stock has a market capitalization of $19.73 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 2.31 and a beta of 0.48.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.99 by $0.07. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. The business had revenue of $839.00 million during the quarter, compared to analysts' expectations of $724.69 million. As a group, analysts expect that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Friday, May 16th. Royalty Pharma's payout ratio is 47.57%.

Royalty Pharma Company 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.