Morningstar Investment Management LLC Acquires Shares of 8,307 Royalty Pharma PLC $RPRX

Key Points

• Morningstar Investment Management LLC acquired 8,307 shares of Royalty Pharma PLC, valued at approximately $299,000, indicating growing institutional interest in the biopharmaceutical firm.
• Royalty Pharma has seen price target adjustments from various analysts, with Morgan Stanley lowering theirs from $55.00 to $54.00 while Citigroup raised theirs from $40.00 to $42.00, reflecting mixed investor sentiment.
• The company recently announced a quarterly dividend of $0.22 per share, representing an annualized dividend of $0.88 and a yield of 2.4%, showing commitment to returning value to shareholders.

Morningstar Investment Management LLC acquired a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,307 shares of the biopharmaceutical company's stock, valued at approximately $299,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RPRX. Louisbourg Investments Inc. bought a new position in shares of Royalty Pharma during the first quarter valued at $28,000. USA Financial Formulas bought a new position in shares of Royalty Pharma in the second quarter valued at about $32,000. Summit Securities Group LLC bought a new position in shares of Royalty Pharma in the first quarter valued at about $36,000. WPG Advisers LLC bought a new position in shares of Royalty Pharma in the first quarter valued at about $39,000. Finally, Allworth Financial LP raised its holdings in shares of Royalty Pharma by 41.6% in the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 452 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RPRX has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on Royalty Pharma from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Friday. Citigroup lifted their price target on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. The Goldman Sachs Group initiated coverage on Royalty Pharma in a report on Tuesday, September 30th. They issued a "buy" rating and a $42.00 price target for the company. Weiss Ratings raised Royalty Pharma from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Finally, Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Royalty Pharma presently has a consensus rating of "Buy" and a consensus price target of $46.00.

Royalty Pharma Stock Performance

Shares of NASDAQ:RPRX opened at $36.00 on Wednesday. The stock has a market capitalization of $20.99 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.95 and a beta of 0.60. Royalty Pharma PLC has a 1-year low of $24.05 and a 1-year high of $38.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average price of $36.09 and a two-hundred day moving average price of $34.71.

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

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, August 15th. Royalty Pharma's payout ratio is presently 50.87%.

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.

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