Whalen Wealth Management Inc. Makes New Investment in Royalty Pharma PLC $RPRX

Whalen Wealth Management Inc. acquired a new stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,419 shares of the biopharmaceutical company’s stock, valued at approximately $628,000.

Several other hedge funds have also recently modified their holdings of the stock. Augustine Asset Management Inc. increased its holdings in shares of Royalty Pharma by 4.4% during the second quarter. Augustine Asset Management Inc. now owns 6,722 shares of the biopharmaceutical company’s stock valued at $242,000 after acquiring an additional 283 shares in the last quarter. Applied Finance Capital Management LLC increased its holdings in shares of Royalty Pharma by 3.0% during the first quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company’s stock valued at $351,000 after acquiring an additional 329 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Royalty Pharma by 19.2% during the second quarter. Fifth Third Bancorp now owns 2,137 shares of the biopharmaceutical company’s stock valued at $77,000 after acquiring an additional 344 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Royalty Pharma by 42.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 402 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Royalty Pharma by 17.1% during the second quarter. GAMMA Investing LLC now owns 3,017 shares of the biopharmaceutical company’s stock valued at $109,000 after acquiring an additional 440 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RPRX. Citigroup upped their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Royalty Pharma from a “buy” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday. Morgan Stanley cut their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. Finally, The Goldman Sachs Group initiated coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $46.00.

Royalty Pharma Price Performance

Shares of NASDAQ:RPRX opened at $36.41 on Wednesday. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00. The company’s 50 day moving average is $36.16 and its 200 day moving average is $35.12. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The company has a market cap of $21.23 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 2.05 and a beta of 0.60.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $578.67 million for the quarter, compared to the consensus estimate 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 EPS for the current year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders 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 2.4%. Royalty Pharma’s dividend payout ratio (DPR) is presently 50.87%.

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.