Meeder Advisory Services Inc. Purchases 926 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Meeder Advisory Services Inc. grew its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 12.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 8,223 shares of the biopharmaceutical company’s stock after purchasing an additional 926 shares during the period. Meeder Advisory Services Inc.’s holdings in Royalty Pharma were worth $217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB bought a new position in Royalty Pharma in the 1st quarter valued at approximately $251,461,000. Norges Bank bought a new position in shares of Royalty Pharma during the fourth quarter valued at $119,740,000. New South Capital Management Inc. purchased a new stake in shares of Royalty Pharma during the first quarter valued at $44,384,000. ADAR1 Capital Management LLC bought a new stake in Royalty Pharma in the 4th quarter worth about $37,130,000. Finally, Patient Capital Management LLC purchased a new position in Royalty Pharma in the 4th quarter worth about $35,247,000. Institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RPRX shares. UBS Group downgraded shares of Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a report on Monday, June 3rd. The Goldman Sachs Group lifted their target price on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley increased their price target on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, StockNews.com lowered Royalty Pharma from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Royalty Pharma Trading Up 1.9 %

Shares of Royalty Pharma stock opened at $28.26 on Tuesday. Royalty Pharma plc has a 1-year low of $25.20 and a 1-year high of $31.66. The company’s fifty day simple moving average is $27.85 and its 200-day simple moving average is $28.03. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. The stock has a market capitalization of $16.77 billion, a PE ratio of 21.09, a P/E/G ratio of 4.06 and a beta of 0.46.

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

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 16th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.97%. Royalty Pharma’s dividend payout ratio (DPR) is presently 62.69%.

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.