Rehmann Capital Advisory Group Takes $549,000 Position in Royalty Pharma PLC (NASDAQ:RPRX)

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

Other institutional investors have also recently added to or reduced their stakes in the company. Louisbourg Investments Inc. acquired a new position in shares of Royalty Pharma in the first quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Royalty Pharma by 76.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 414 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of Royalty Pharma by 160.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 1,003 shares during the last quarter. Westpac Banking Corp acquired a new position in shares of Royalty Pharma in the fourth quarter valued at approximately $53,000. Finally, National Bank of Canada FI raised its position in shares of Royalty Pharma by 21.8% in the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on RPRX shares. Morgan Stanley set a $54.00 price target on shares of Royalty Pharma and gave the stock an "overweight" rating in a research report on Thursday. Citigroup restated a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. Finally, Wall Street Zen downgraded shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $48.33.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX traded down $0.28 during trading hours on Friday, hitting $35.84. 1,690,401 shares of the company's stock traded hands, compared to its average volume of 3,702,663. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $36.56. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. The company's fifty day simple moving average is $34.13 and its two-hundred day simple moving average is $32.23. The company has a market cap of $20.15 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.85 and a beta of 0.50.

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

Royalty Pharma Announces Dividend

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 $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, May 16th. Royalty Pharma's dividend payout ratio is 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.