Wealth Enhancement Advisory Services LLC Acquires New Position in Royalty Pharma plc (NASDAQ:RPRX)

Wealth Enhancement Advisory Services LLC bought a new stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,660 shares of the biopharmaceutical company's stock, valued at approximately $246,000.

A number of other hedge funds also recently added to or reduced their stakes in RPRX. Allworth Financial LP boosted its position in Royalty Pharma by 417.6% during the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 877 shares during the last quarter. Riverview Trust Co boosted its holdings in shares of 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 purchasing an additional 1,186 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in shares of 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 purchasing an additional 1,003 shares during the last quarter. Westpac Banking Corp acquired a new position in shares of Royalty Pharma in the 4th quarter valued at $53,000. Finally, National Bank of Canada FI boosted 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 valued at $53,000 after purchasing an additional 371 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. Morgan Stanley initiated coverage on shares of Royalty Pharma in a research note on Friday, May 16th. They issued an "overweight" rating and a $51.00 target price on the stock. Finally, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. One research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $47.33.

Royalty Pharma Trading Down 1.5%

Shares of RPRX stock traded down $0.54 during mid-day trading on Tuesday, reaching $34.56. The company's stock had a trading volume of 2,911,018 shares, compared to its average volume of 3,620,128. The company's 50 day simple moving average is $32.90 and its 200-day simple moving average is $31.04. Royalty Pharma plc has a 12-month low of $24.05 and a 12-month high of $35.38. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $19.43 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 2.31 and a beta of 0.48.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. The business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. On average, research analysts predict 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. Investors of record on Friday, May 16th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Friday, May 16th. Royalty Pharma's dividend payout ratio (DPR) 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.