Raymond James Financial Inc. Acquires 303,356 Shares of Royalty Pharma PLC $RPRX

Key Points

• Raymond James Financial Inc. increased its stake in Royalty Pharma PLC by 38.7%, acquiring an additional 303,356 shares during the first quarter.
• Royalty Pharma reported earnings of $1.14 EPS for the last quarter, surpassing analyst expectations of $1.10, but had total revenue of $578.67 million against estimates of $750.06 million.
• The company declared a quarterly dividend of $0.22, payable on September 10th, representing an annualized yield of 2.4%.

Raymond James Financial Inc. lifted its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 38.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,086,989 shares of the biopharmaceutical company's stock after acquiring an additional 303,356 shares during the quarter. Raymond James Financial Inc. owned 0.19% of Royalty Pharma worth $33,838,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Merit Financial Group LLC bought a new stake in shares of Royalty Pharma in the 1st quarter worth about $252,000. M&T Bank Corp lifted its holdings in shares of Royalty Pharma by 23.4% in the 1st quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company's stock worth $902,000 after acquiring an additional 5,500 shares during the last quarter. Yousif Capital Management LLC bought a new stake in shares of Royalty Pharma in the 1st quarter worth about $275,000. Asset Management One Co. Ltd. lifted its holdings in shares of Royalty Pharma by 8.0% in the 1st quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company's stock worth $5,134,000 after acquiring an additional 12,148 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Royalty Pharma by 4.4% in the 1st quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company's stock worth $636,000 after acquiring an additional 866 shares during the last quarter. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Trading Up 0.0%

RPRX stock opened at $36.32 on Friday. The company has a market capitalization of $21.18 billion, a PE ratio of 20.99, a P/E/G ratio of 2.37 and a beta of 0.55. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $38.00. The firm's 50-day moving average is $36.17 and its 200 day moving average is $33.92. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $578.67 million for the quarter, compared to the consensus estimate of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. On average, research analysts anticipate 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 will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 15th. Royalty Pharma's dividend payout ratio (DPR) is currently 50.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RPRX. Citigroup raised their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Morgan Stanley raised their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Finally, Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $48.00.

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.

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