Wealthedge Investment Advisors LLC Takes Position in Royalty Pharma PLC (NASDAQ:RPRX)

Key Points

• Wealthedge Investment Advisors LLC acquired a new stake in Royalty Pharma PLC, purchasing 12,504 shares valued at approximately $389,000 in the first quarter.
• Royalty Pharma recently announced a quarterly dividend of $0.22 per share, which represents an annualized yield of 2.4%.
• Wall Street analysts have raised their ratings on Royalty Pharma shares, with Morgan Stanley increasing the target price from $51.00 to $54.00, indicating a positive outlook for the stock.

Wealthedge Investment Advisors LLC bought a new stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 12,504 shares of the biopharmaceutical company's stock, valued at approximately $389,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of RPRX. Louisbourg Investments Inc. bought a new position in Royalty Pharma during the 1st quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB raised its position in Royalty Pharma by 76.4% during the 1st 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 last quarter. Allworth Financial LP raised its position in Royalty Pharma by 41.6% during the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 452 shares during the last quarter. Transce3nd LLC bought a new position in Royalty Pharma during the 4th quarter valued at approximately $61,000. Finally, Friedenthal Financial bought a new position in Royalty Pharma during the 1st quarter valued at approximately $77,000. Institutional investors own 54.35% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on RPRX shares. Wall Street Zen raised Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Morgan Stanley increased their target price on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Citigroup increased their target price on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd.

Royalty Pharma Stock Performance

Royalty Pharma stock opened at $36.50 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $20.52 billion, a P/E ratio of 21.10, a PEG ratio of 2.38 and a beta of 0.55. The stock's 50 day moving average is $35.92 and its 200 day moving average is $33.71. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.10 by $0.04. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. The business had revenue of $578.67 million for the quarter, compared to the consensus estimate of $750.06 million. On average, equities research analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 15th. Royalty Pharma's dividend payout ratio (DPR) is 50.87%.

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.

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