Rehmann Capital Advisory Group Purchases Shares of 17,649 Royalty Pharma PLC (NASDAQ:RPRX)

Rehmann Capital Advisory Group bought a new stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,649 shares of the biopharmaceutical company's stock, valued at approximately $549,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Louisbourg Investments Inc. acquired a new position in shares of Royalty Pharma during the first quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of 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 during the period. Rakuten Securities Inc. raised its holdings in shares of Royalty Pharma by 160.5% during the fourth quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock valued at $42,000 after purchasing an additional 1,003 shares during the period. Westpac Banking Corp acquired a new stake in shares of Royalty Pharma in the 4th quarter worth about $53,000. Finally, National Bank of Canada FI raised its holdings in shares of Royalty Pharma by 21.8% in the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 371 shares during the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citigroup restated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Morgan Stanley set a $54.00 target price on shares of Royalty Pharma and gave the stock an "overweight" rating in a report on Thursday. Finally, Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $48.33.

Royalty Pharma Stock Up 1.1%

RPRX stock traded up $0.40 during trading on Monday, reaching $36.24. The stock had a trading volume of 1,987,914 shares, compared to its average volume of 3,702,775. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $36.56. 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 company's 50 day moving average is $34.19 and its two-hundred day moving average is $32.40. The company has a market capitalization of $20.38 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 1.85 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued 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 analyst estimates of $724.69 million. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. Equities research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a dividend of $0.22 per share. The ex-dividend date was Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.43%. Royalty Pharma's dividend payout ratio is presently 47.57%.

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.