AE Wealth Management LLC Purchases Shares of 62,998 Royalty Pharma plc (NASDAQ:RPRX)

AE Wealth Management LLC acquired a new position in shares of Royalty Pharma plc (NASDAQ:RPRX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,998 shares of the biopharmaceutical company’s stock, valued at approximately $1,661,000.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc boosted its position in Royalty Pharma by 5,215.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 1,043 shares during the last quarter. Gladius Capital Management LP bought a new position in Royalty Pharma in the second quarter valued at $32,000. Fidelis Capital Partners LLC acquired a new stake in Royalty Pharma in the 1st quarter valued at $46,000. GAMMA Investing LLC increased its stake in Royalty Pharma by 172.5% in the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 1,037 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Royalty Pharma by 79.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,807 shares of the biopharmaceutical company’s stock worth $51,000 after buying an additional 802 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley lifted their target price on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group increased their price objective on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, UBS Group downgraded shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX opened at $27.71 on Tuesday. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $16.55 billion, a P/E ratio of 20.68, a P/E/G ratio of 4.17 and a beta of 0.46. Royalty Pharma plc has a 12 month low of $25.20 and a 12 month high of $31.66. The stock has a 50 day moving average of $28.02 and a 200-day moving average of $27.96.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $600.83 million. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. During the same period in the previous year, the business posted $0.85 earnings per share. As a group, equities research analysts predict that Royalty Pharma plc will post 4.04 EPS for the current year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 16th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, August 16th. Royalty Pharma’s dividend payout ratio is presently 62.69%.

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.