Envestnet Portfolio Solutions Inc. Purchases New Position in Royalty Pharma plc (NASDAQ:RPRX)

Envestnet Portfolio Solutions Inc. acquired a new stake in Royalty Pharma plc (NASDAQ:RPRX) in the second quarter, according to its most recent filing with the SEC. The fund acquired 9,616 shares of the biopharmaceutical company’s stock, valued at approximately $254,000.

Other hedge funds have also bought and sold shares of the company. PGGM Investments grew its holdings in Royalty Pharma by 2.7% during the 2nd quarter. PGGM Investments now owns 91,855 shares of the biopharmaceutical company’s stock valued at $2,422,000 after buying an additional 2,385 shares in the last quarter. M&G Plc bought a new position in shares of Royalty Pharma in the second quarter valued at approximately $447,000. Manning & Napier Advisors LLC purchased a new position in Royalty Pharma during the second quarter valued at approximately $5,165,000. BDF Gestion bought a new stake in Royalty Pharma during the 2nd quarter worth approximately $1,007,000. Finally, Versant Capital Management Inc lifted its stake in Royalty Pharma by 5,215.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 1,043 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

RPRX opened at $28.19 on Friday. 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 stock has a market capitalization of $16.73 billion, a P/E ratio of 21.04, a PEG ratio of 4.01 and a beta of 0.46. The stock has a 50-day moving average price of $27.16 and a 200-day moving average price of $28.23. Royalty Pharma plc has a 12-month low of $25.20 and a 12-month high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. The business had revenue of $537.00 million during the quarter, compared to analyst estimates of $600.83 million. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Equities analysts predict that Royalty Pharma plc will post 4.04 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 16th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, August 16th. Royalty Pharma’s dividend payout ratio is currently 62.69%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RPRX shares. Morgan Stanley boosted their price target on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. UBS Group lowered Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research note on Monday, June 3rd. The Goldman Sachs Group lifted their price target on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, StockNews.com cut shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Royalty Pharma 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.