Wealth Enhancement Advisory Services LLC Invests $246,000 in Royalty Pharma PLC (NASDAQ:RPRX)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,660 shares of the biopharmaceutical company's stock, valued at approximately $246,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Allworth Financial LP lifted its stake in shares of Royalty Pharma by 417.6% in the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 877 shares in the last quarter. Riverview Trust Co lifted its position in Royalty Pharma by 3,953.3% in the 4th quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock valued at $31,000 after acquiring an additional 1,186 shares in the last quarter. Rakuten Securities Inc. lifted its position in Royalty Pharma by 160.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock valued at $42,000 after acquiring an additional 1,003 shares in the last quarter. Westpac Banking Corp purchased a new stake in Royalty Pharma during the 4th quarter valued at $53,000. Finally, National Bank of Canada FI increased 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 purchasing an additional 371 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Stock Performance

RPRX traded down $0.14 during mid-day trading on Friday, reaching $34.78. 1,636,209 shares of the company traded hands, compared to its average volume of 3,624,188. The company's fifty day moving average price is $33.08 and its 200-day moving average price is $31.15. The stock has a market capitalization of $19.55 billion, a P/E ratio of 18.80, a P/E/G ratio of 1.79 and a beta of 0.48. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $35.38.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $839.00 million during the quarter, compared to analyst estimates of $724.69 million. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. On average, sell-side analysts expect that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Friday, May 16th. Royalty Pharma's dividend payout ratio (DPR) is presently 47.57%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RPRX. Morgan Stanley initiated coverage on Royalty Pharma in a research note on Friday, May 16th. They issued an "overweight" rating and a $51.00 price target for the company. Wall Street Zen lowered Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Citigroup restated a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Royalty Pharma currently has a consensus rating of "Buy" and a consensus target price of $47.33.

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.