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

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,660 shares of the biopharmaceutical company’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RPRX. Allworth Financial LP increased its position in shares of Royalty Pharma by 417.6% during the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 877 shares during the period. Riverview Trust Co grew its holdings in shares of Royalty Pharma by 3,953.3% during the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 1,186 shares during the last quarter. Rakuten Securities Inc. grew its holdings in shares of Royalty Pharma by 160.5% during the fourth quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 1,003 shares during the last quarter. Westpac Banking Corp purchased a new stake in shares of Royalty Pharma during the fourth quarter valued at approximately $53,000. Finally, National Bank of Canada FI lifted its position in Royalty Pharma by 21.8% during the fourth 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 period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

RPRX has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Citigroup restated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. Finally, Morgan Stanley began coverage on shares of Royalty Pharma in a research report on Friday, May 16th. They set an “overweight” rating and a $51.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Royalty Pharma has a consensus rating of “Buy” and an average price target of $47.33.

Royalty Pharma Stock Performance

RPRX opened at $35.10 on Tuesday. The stock has a market capitalization of $19.73 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 2.31 and a beta of 0.48. The company has a fifty day moving average of $32.90 and a 200 day moving average of $31.04. Royalty Pharma plc has a fifty-two week low of $24.05 and a fifty-two week high of $35.38. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The company had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $724.69 million. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, sell-side analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.88 annualized dividend and a yield of 2.51%. Royalty Pharma’s payout ratio 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.