Spire Wealth Management Reduces Position in Royalty Pharma PLC (NASDAQ:RPRX)

Spire Wealth Management cut its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 44.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,195 shares of the biopharmaceutical company’s stock after selling 954 shares during the quarter. Spire Wealth Management’s holdings in Royalty Pharma were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. lifted its holdings in Royalty Pharma by 42.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company’s stock valued at $432,862,000 after purchasing an additional 5,069,127 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Royalty Pharma by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 7,312,551 shares of the biopharmaceutical company’s stock valued at $186,846,000 after purchasing an additional 46,765 shares during the last quarter. Norges Bank purchased a new stake in Royalty Pharma during the fourth quarter valued at about $124,498,000. Two Sigma Advisers LP lifted its holdings in Royalty Pharma by 21.1% during the fourth quarter. Two Sigma Advisers LP now owns 3,673,200 shares of the biopharmaceutical company’s stock valued at $93,703,000 after purchasing an additional 640,000 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Royalty Pharma by 12.8% during the fourth quarter. Northern Trust Corp now owns 3,330,429 shares of the biopharmaceutical company’s stock valued at $84,959,000 after purchasing an additional 376,619 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RPRX has been the topic of several analyst reports. Morgan Stanley initiated coverage on Royalty Pharma in a research report on Friday, May 16th. They set an “overweight” rating and a $51.00 price target on the stock. Wall Street Zen cut Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Citigroup reiterated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $47.33.

Royalty Pharma Trading Up 0.9%

Shares of RPRX opened at $36.19 on Thursday. The business’s 50-day moving average price is $33.71 and its 200-day moving average price is $31.77. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $36.33. The stock has a market cap of $20.35 billion, a PE ratio of 19.56, a P/E/G ratio of 1.84 and a beta of 0.50. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. The company had revenue of $839.00 million for the quarter, compared to analysts’ expectations of $724.69 million. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. On average, equities analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Friday, May 16th. Royalty Pharma’s dividend payout ratio is currently 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.