Truist Financial Corp Purchases 847 Shares of Royalty Pharma PLC $RPRX

Truist Financial Corp increased its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,339 shares of the biopharmaceutical company’s stock after purchasing an additional 847 shares during the period. Truist Financial Corp’s holdings in Royalty Pharma were worth $877,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of RPRX. Louisbourg Investments Inc. purchased a new stake in Royalty Pharma during the first quarter valued at $28,000. Summit Securities Group LLC bought a new position in Royalty Pharma during the 1st quarter valued at about $36,000. WPG Advisers LLC bought a new position in Royalty Pharma during the 1st quarter valued at about $39,000. Allworth Financial LP grew its holdings 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 during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Royalty Pharma by 42.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 402 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RPRX shares. Wall Street Zen cut shares of Royalty Pharma from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings upgraded shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group initiated coverage on shares of Royalty Pharma in a research note on Tuesday, September 30th. They issued a “buy” rating and a $42.00 target price on the stock. Morgan Stanley dropped their target price on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Citigroup upped their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $46.00.

Royalty Pharma Price Performance

Shares of RPRX opened at $35.44 on Tuesday. The company has a market cap of $20.67 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.98 and a beta of 0.60. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. The company has a 50 day moving average of $36.13 and a two-hundred day moving average of $34.70.

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

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.5%. Royalty Pharma’s dividend payout ratio (DPR) is currently 50.87%.

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.