Moran Wealth Management LLC Makes New $2.77 Million Investment in Royalty Pharma PLC (NASDAQ:RPRX)

Moran Wealth Management LLC purchased a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 88,991 shares of the biopharmaceutical company’s stock, valued at approximately $2,770,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Royalty Pharma by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company’s stock valued at $1,238,000 after acquiring an additional 349 shares during the last quarter. National Bank of Canada FI increased its position in shares of Royalty Pharma by 21.8% in the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company’s stock valued at $53,000 after acquiring an additional 371 shares during the period. Sherbrooke Park Advisers LLC raised its stake in shares of Royalty Pharma by 1.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company’s stock valued at $890,000 after acquiring an additional 380 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Royalty Pharma by 0.9% during the fourth quarter. Sanctuary Advisors LLC now owns 41,854 shares of the biopharmaceutical company’s stock valued at $1,068,000 after acquiring an additional 388 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 414 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Price Performance

RPRX stock opened at $35.91 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.56 and a quick ratio of 1.56. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $36.32. The firm has a 50-day moving average of $33.35 and a 200 day moving average of $31.41. The company has a market cap of $20.19 billion, a P/E ratio of 19.41, a PEG ratio of 1.85 and a beta of 0.48.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.07. The firm had revenue of $839.00 million during the quarter, compared to analyst estimates of $724.69 million. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. On average, sell-side analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a $0.22 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.45%. Royalty Pharma’s dividend payout ratio (DPR) is 47.57%.

Analyst Ratings Changes

A number of research analysts recently issued reports on RPRX shares. Wall Street Zen upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Citigroup restated a “buy” rating on shares of Royalty Pharma in a report on Friday, March 28th. Finally, Morgan Stanley started coverage on Royalty Pharma in a research note on Friday, May 16th. They issued an “overweight” rating and a $51.00 price target for the company. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $47.33.

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.