Phillips Wealth Planners LLC Takes Position in Royalty Pharma PLC (NASDAQ:RPRX)

Phillips Wealth Planners LLC purchased a new stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 11,051 shares of the biopharmaceutical company's stock, valued at approximately $353,000.

Other hedge funds have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its stake in Royalty Pharma by 42.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock worth $432,862,000 after buying an additional 5,069,127 shares in the last quarter. Norges Bank bought a new stake in Royalty Pharma during the 4th quarter valued at approximately $124,498,000. BNP Paribas Financial Markets purchased a new position in shares of Royalty Pharma during the 4th quarter worth approximately $41,959,000. AQR Capital Management LLC raised its position in shares of Royalty Pharma by 187.0% in the 4th quarter. AQR Capital Management LLC now owns 1,903,676 shares of the biopharmaceutical company's stock worth $48,563,000 after acquiring an additional 1,240,384 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Royalty Pharma in the 1st quarter worth approximately $31,591,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup restated a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. Morgan Stanley initiated coverage on Royalty Pharma in a research report on Friday, May 16th. They set an "overweight" rating and a $51.00 price objective for the company. Finally, Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $47.33.

Royalty Pharma Stock Down 1.8%

Shares of RPRX stock traded down $0.64 during trading hours on Thursday, hitting $35.27. 3,655,682 shares of the company's stock traded hands, compared to its average volume of 3,667,032. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68. The stock's fifty day simple moving average is $33.35 and its two-hundred day simple moving average is $31.41. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $36.56. The stock has a market cap of $19.83 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 1.85 and a beta of 0.48.

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

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Friday, May 16th. Royalty Pharma's dividend payout ratio is presently 47.57%.

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.