Homestead Advisers Corp Purchases 8,300 Shares of Royalty Pharma PLC $RPRX

Homestead Advisers Corp increased its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,939,440 shares of the biopharmaceutical company’s stock after purchasing an additional 8,300 shares during the quarter. Royalty Pharma makes up approximately 1.7% of Homestead Advisers Corp’s holdings, making the stock its 29th biggest holding. Homestead Advisers Corp owned approximately 0.34% of Royalty Pharma worth $69,878,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. USA Financial Formulas bought a new stake in Royalty Pharma during the 2nd quarter worth approximately $32,000. Summit Securities Group LLC acquired a new position in Royalty Pharma in the first quarter worth $36,000. WPG Advisers LLC acquired a new position in Royalty Pharma in the first quarter worth $39,000. Allworth Financial LP grew its holdings in shares of Royalty Pharma by 41.6% during the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 452 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Royalty Pharma by 42.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 402 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. The Goldman Sachs Group started coverage on Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price target for the company. Wall Street Zen upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup increased their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Weiss Ratings cut shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Morgan Stanley reduced their price objective on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Royalty Pharma has a consensus rating of “Buy” and a consensus price target of $46.00.

Royalty Pharma Stock Up 1.4%

Shares of NASDAQ:RPRX opened at $37.84 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $22.07 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 2.05 and a beta of 0.56. The company has a 50 day moving average of $36.26 and a 200-day moving average of $35.31. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $38.09.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The firm had revenue of $578.67 million for the quarter, compared to analysts’ expectations of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. On average, sell-side analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.3%. Royalty Pharma’s payout ratio is 50.87%.

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.