Kingsview Wealth Management LLC Purchases Shares of 45,573 Royalty Pharma plc (NASDAQ:RPRX)

Kingsview Wealth Management LLC acquired a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 45,573 shares of the biopharmaceutical company's stock, valued at approximately $1,280,000.

A number of other institutional investors have also added to or reduced their stakes in RPRX. Panagora Asset Management Inc. grew its position in Royalty Pharma by 326.6% during the fourth quarter. Panagora Asset Management Inc. now owns 281,015 shares of the biopharmaceutical company's stock worth $7,894,000 after buying an additional 215,142 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Royalty Pharma by 295.8% in the fourth quarter. Quadrant Capital Group LLC now owns 3,487 shares of the biopharmaceutical company's stock worth $98,000 after purchasing an additional 2,606 shares during the last quarter. Torray Investment Partners LLC increased its position in shares of Royalty Pharma by 22.6% in the fourth quarter. Torray Investment Partners LLC now owns 505,740 shares of the biopharmaceutical company's stock worth $14,206,000 after purchasing an additional 93,107 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Royalty Pharma by 0.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,763 shares of the biopharmaceutical company's stock valued at $5,181,000 after purchasing an additional 1,223 shares in the last quarter. Finally, Versor Investments LP bought a new stake in Royalty Pharma during the fourth quarter valued at approximately $591,000. Hedge funds and other institutional investors own 54.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RPRX. JPMorgan Chase & Co. dropped their price objective on shares of Royalty Pharma from $45.00 to $42.00 and set an "overweight" rating for the company in a report on Tuesday, February 20th. The Goldman Sachs Group reduced their price objective on Royalty Pharma from $56.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, February 20th. StockNews.com lowered Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Friday, May 10th. Finally, Bank of America lowered their price objective on shares of Royalty Pharma from $40.00 to $38.00 and set a "buy" rating for the company in a report on Friday, April 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $46.75.

Royalty Pharma Trading Down 2.2 %

Shares of Royalty Pharma stock traded down $0.61 on Friday, hitting $27.27. The stock had a trading volume of 1,906,556 shares, compared to its average volume of 2,953,405. The stock's 50-day simple moving average is $28.92 and its two-hundred day simple moving average is $28.64. Royalty Pharma plc has a one year low of $25.92 and a one year high of $34.65. The company has a quick ratio of 12.52, a current ratio of 12.52 and a debt-to-equity ratio of 0.62. The stock has a market cap of $16.29 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 4.45 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.02. The firm had revenue of $568.00 million for the quarter, compared to analysts' expectations of $671.45 million. Royalty Pharma had a net margin of 35.70% and a return on equity of 22.94%. During the same quarter in the previous year, the company earned $1.60 earnings per share. As a group, sell-side analysts predict that Royalty Pharma plc will post 4.03 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, May 16th. Royalty Pharma's payout ratio is 62.69%.

Royalty Pharma Company Profile

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.