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

EverSource Wealth Advisors LLC boosted its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 24.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,112 shares of the biopharmaceutical company’s stock after acquiring an additional 818 shares during the period. EverSource Wealth Advisors LLC’s holdings in Royalty Pharma were worth $105,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in Royalty Pharma by 5.0% during the 3rd quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company’s stock valued at $40,705,000 after acquiring an additional 70,130 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Royalty Pharma by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company’s stock valued at $79,888,000 after buying an additional 130,025 shares during the period. Pallas Capital Advisors LLC purchased a new stake in shares of Royalty Pharma in the 4th quarter valued at approximately $2,355,000. Allspring Global Investments Holdings LLC grew its stake in shares of Royalty Pharma by 303.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company’s stock valued at $13,926,000 after buying an additional 406,123 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of Royalty Pharma by 44.7% in the 3rd quarter. Two Sigma Advisers LP now owns 3,033,200 shares of the biopharmaceutical company’s stock valued at $85,809,000 after buying an additional 936,900 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

Separately, TD Cowen raised shares of Royalty Pharma to a “strong-buy” rating in a research note on Tuesday, December 24th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Royalty Pharma presently has an average rating of “Buy” and an average price target of $41.60.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $33.41 on Wednesday. The firm’s 50 day moving average price is $31.88 and its 200-day moving average price is $28.62. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.44 and a current ratio of 1.44. Royalty Pharma plc has a one year low of $24.05 and a one year high of $34.20. The firm has a market cap of $19.26 billion, a P/E ratio of 23.04, a P/E/G ratio of 2.31 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.99 by $0.16. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. As a group, equities research analysts predict that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 21st were issued a dividend of $0.22 per share. The ex-dividend date was Friday, February 21st. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 2.63%. Royalty Pharma’s dividend payout ratio is 60.69%.

About Royalty Pharma

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.