Allworth Financial LP Boosts Stake in Royalty Pharma PLC (NASDAQ:RPRX)

Allworth Financial LP lifted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 41.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,539 shares of the biopharmaceutical company’s stock after acquiring an additional 452 shares during the period. Allworth Financial LP’s holdings in Royalty Pharma were worth $49,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV raised its stake in shares of Royalty Pharma by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company’s stock worth $1,238,000 after acquiring an additional 349 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Royalty Pharma by 21.8% in the 4th 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 in the last quarter. Sherbrooke Park Advisers LLC grew its holdings in shares of Royalty Pharma by 1.1% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company’s stock valued at $890,000 after purchasing an additional 380 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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. Finally, Hillsdale Investment Management Inc. raised its position in Royalty Pharma by 2.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 24,250 shares of the biopharmaceutical company’s stock worth $619,000 after purchasing an additional 600 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley set a $54.00 price objective on Royalty Pharma and gave the stock an “overweight” rating in a report on Thursday, July 10th. Citigroup restated a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. Finally, Wall Street Zen downgraded Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Sunday, June 29th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $48.33.

Royalty Pharma Price Performance

RPRX stock opened at $35.59 on Friday. The stock has a market capitalization of $20.01 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 2.36 and a beta of 0.50. The firm’s 50-day moving average price is $34.49 and its two-hundred day moving average price is $32.67. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $36.89.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) 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 return on equity of 24.71% and a net margin of 48.23%. As a group, equities analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.47%. Royalty Pharma’s dividend payout ratio (DPR) is presently 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.