Envestnet Portfolio Solutions Inc. Acquires Shares of 9,616 Royalty Pharma plc (NASDAQ:RPRX)

Envestnet Portfolio Solutions Inc. bought a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,616 shares of the biopharmaceutical company’s stock, valued at approximately $254,000.

Other large investors also recently modified their holdings of the company. Swedbank AB bought a new position in Royalty Pharma in the first quarter valued at approximately $251,461,000. Norges Bank bought a new position in shares of Royalty Pharma in the 4th quarter valued at $119,740,000. California Public Employees Retirement System raised its holdings in shares of Royalty Pharma by 5.5% during the 4th quarter. California Public Employees Retirement System now owns 2,136,899 shares of the biopharmaceutical company’s stock worth $60,025,000 after buying an additional 110,768 shares in the last quarter. Homestead Advisers Corp lifted its position in shares of Royalty Pharma by 40.7% during the 1st quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock worth $57,502,000 after buying an additional 547,000 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Royalty Pharma by 10.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,856,998 shares of the biopharmaceutical company’s stock valued at $56,396,000 after buying an additional 175,261 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $28.19 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.35 and a current ratio of 9.35. Royalty Pharma plc has a 52 week low of $25.20 and a 52 week high of $31.66. The firm has a market cap of $16.73 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 4.01 and a beta of 0.46. The firm’s fifty day moving average is $27.16 and its 200-day moving average is $28.23.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. The firm had revenue of $537.00 million for the quarter, compared to the consensus estimate of $600.83 million. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. During the same period in the previous year, the business earned $0.85 EPS. Sell-side analysts predict that Royalty Pharma plc will post 4.04 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.84 annualized dividend and a yield of 2.98%. Royalty Pharma’s payout ratio is 62.69%.

Analysts Set New Price Targets

RPRX has been the subject of a number of research reports. StockNews.com cut shares of Royalty Pharma from a “buy” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group raised their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. UBS Group downgraded shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a report on Monday, June 3rd. Finally, Morgan Stanley increased their price target on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Royalty Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Royalty Pharma 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.