88,991 Shares in Royalty Pharma PLC (NASDAQ:RPRX) Bought by Moran Wealth Management LLC

Moran Wealth Management LLC acquired 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 13F filing with the Securities & Exchange Commission. The fund acquired 88,991 shares of the biopharmaceutical company's stock, valued at approximately $2,770,000.

Other institutional investors also recently made changes to their positions in the company. Nissay Asset Management Corp Japan ADV raised its position in shares of Royalty Pharma by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock valued at $1,238,000 after buying an additional 349 shares in the last quarter. National Bank of Canada FI raised its position in Royalty Pharma by 21.8% during the fourth 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 in the last quarter. Sherbrooke Park Advisers LLC raised its position in Royalty Pharma by 1.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock valued at $890,000 after purchasing an additional 380 shares in the last quarter. Sanctuary Advisors LLC raised its position in Royalty Pharma by 0.9% during the fourth quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company's stock valued at $1,068,000 after purchasing an additional 388 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in 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 purchasing an additional 414 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX traded up $0.60 during trading on Friday, hitting $35.87. 3,740,759 shares of the company were exchanged, compared to its average volume of 3,672,032. The business's 50 day moving average is $33.47 and its 200-day moving average is $31.64. The company has a market capitalization of $20.17 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.84 and a beta of 0.48. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68. Royalty Pharma PLC has a 1-year low of $24.05 and a 1-year high of $36.32.

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

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.45%. Royalty Pharma's dividend payout ratio is 47.57%.

Wall Street Analyst Weigh In

Several brokerages have commented on RPRX. Citigroup restated a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. Wall Street Zen downgraded shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Morgan Stanley started coverage on shares of Royalty Pharma in a report on Friday, May 16th. They set an "overweight" rating and a $51.00 price target for the company. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $47.33.

About Royalty Pharma

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.