Wedmont Private Capital Takes Position in Royalty Pharma PLC $RPRX

Wedmont Private Capital purchased a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,462 shares of the biopharmaceutical company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Louisbourg Investments Inc. bought a new stake in Royalty Pharma during the 1st quarter valued at $28,000. MassMutual Private Wealth & Trust FSB increased its stake in 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 in the last quarter. Summit Securities Group LLC bought a new stake in Royalty Pharma during the 1st quarter valued at $36,000. WPG Advisers LLC bought a new stake in Royalty Pharma during the 1st quarter valued at $39,000. Finally, Allworth Financial LP increased its stake in Royalty Pharma by 41.6% during the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 452 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Analyst Ratings Changes

RPRX has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Royalty Pharma from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Morgan Stanley lifted their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $48.00.

Royalty Pharma Trading Up 1.4%

Shares of Royalty Pharma stock opened at $36.24 on Monday. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $38.00. The company has a market cap of $21.13 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 2.26 and a beta of 0.58. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average price is $36.34 and its 200-day moving average price is $34.37.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The firm had revenue of $578.67 million for the quarter, compared to the consensus estimate of $750.06 million. On average, equities analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 15th. Royalty Pharma’s dividend payout ratio (DPR) is currently 50.87%.

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.