Merit Financial Group LLC bought a new position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,097 shares of the biopharmaceutical company's stock, valued at approximately $252,000.
Several other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of 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 during the last quarter. Values First Advisors Inc. lifted its stake in Royalty Pharma by 53.3% in the 4th quarter. Values First Advisors Inc. now owns 15,963 shares of the biopharmaceutical company's stock valued at $407,000 after buying an additional 5,551 shares in the last quarter. Van ECK Associates Corp grew its holdings in Royalty Pharma by 25.3% during the 4th quarter. Van ECK Associates Corp now owns 127,140 shares of the biopharmaceutical company's stock valued at $3,243,000 after buying an additional 25,640 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Royalty Pharma by 3.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 152,783 shares of the biopharmaceutical company's stock worth $3,902,000 after buying an additional 4,427 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in shares of Royalty Pharma in the fourth quarter worth $230,000. Institutional investors and hedge funds own 54.35% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Wall Street Zen lowered Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Morgan Stanley initiated coverage on shares of Royalty Pharma in a research note on Friday, May 16th. They set an "overweight" rating and a $51.00 price target on the stock. Finally, Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $47.33.
Check Out Our Latest Stock Analysis on RPRX
Royalty Pharma Trading Down 1.2%
Shares of RPRX stock traded down $0.43 during mid-day trading on Friday, reaching $34.84. The company's stock had a trading volume of 3,524,988 shares, compared to its average volume of 3,610,883. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $19.59 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.31 and a beta of 0.48. The company's 50 day simple moving average is $32.82 and its 200-day simple moving average is $30.95. Royalty Pharma plc has a 12-month low of $24.05 and a 12-month high of $35.38.
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. The firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $724.69 million. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. On average, research analysts predict that Royalty Pharma plc will post 4.49 EPS for the current fiscal year.
Royalty Pharma Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, May 16th. Royalty Pharma's dividend payout ratio (DPR) is 47.57%.
Royalty Pharma Profile
(
Free Report)
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.
Further Reading
Before you consider Royalty Pharma, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Royalty Pharma wasn't on the list.
While Royalty Pharma currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
