EverSource Wealth Advisors LLC Boosts Position in Royalty Pharma plc (NASDAQ:RPRX)

EverSource Wealth Advisors LLC raised its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 32.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,698 shares of the biopharmaceutical company’s stock after purchasing an additional 655 shares during the period. EverSource Wealth Advisors LLC’s holdings in Royalty Pharma were worth $76,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in Royalty Pharma by 98.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,947 shares of the biopharmaceutical company’s stock worth $308,000 after purchasing an additional 5,438 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in Royalty Pharma in the 4th quarter worth approximately $600,000. Franklin Resources Inc. grew its position in Royalty Pharma by 36.4% during the fourth quarter. Franklin Resources Inc. now owns 96,361 shares of the biopharmaceutical company’s stock valued at $2,707,000 after buying an additional 25,716 shares during the period. Commerce Bank acquired a new stake in shares of Royalty Pharma during the 4th quarter valued at about $201,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Royalty Pharma by 30.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 121,899 shares of the biopharmaceutical company’s stock valued at $3,424,000 after purchasing an additional 28,807 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Trading Up 0.1 %

Shares of RPRX opened at $28.21 on Friday. The firm has a 50 day simple moving average of $28.01 and a 200-day simple moving average of $27.93. The stock has a market cap of $16.74 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 4.09 and a beta of 0.46. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. Royalty Pharma plc has a 1-year low of $25.20 and a 1-year high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $537.00 million during the quarter, compared to the consensus estimate 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 firm earned $0.85 earnings per share. Equities analysts forecast that Royalty Pharma plc will post 4.04 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

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

Analysts Set New Price Targets

RPRX has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their price target on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Morgan Stanley raised their price target on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. UBS Group cut shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research note on Monday, June 3rd. Finally, StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. One investment 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 stock presently has a consensus rating of “Moderate Buy” and an average price target 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.