Menlo Advisors LLC Purchases New Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Menlo Advisors LLC acquired a new position in shares of Royalty Pharma plc (NASDAQ:RPRX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 147,885 shares of the biopharmaceutical company’s stock, valued at approximately $3,899,000. Royalty Pharma makes up 2.2% of Menlo Advisors LLC’s holdings, making the stock its 19th biggest holding.

A number of other hedge funds have also recently bought and sold shares of RPRX. Ballentine Partners LLC lifted its stake in shares of Royalty Pharma by 3.3% during the first quarter. Ballentine Partners LLC now owns 12,541 shares of the biopharmaceutical company’s stock valued at $381,000 after acquiring an additional 406 shares during the period. NEOS Investment Management LLC lifted its position in Royalty Pharma by 5.0% during the 4th quarter. NEOS Investment Management LLC now owns 8,589 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 409 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Royalty Pharma by 79.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,807 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 802 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Royalty Pharma by 10.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,097 shares of the biopharmaceutical company’s stock worth $276,000 after buying an additional 887 shares during the period. Finally, Meeder Advisory Services Inc. grew its position in shares of Royalty Pharma by 12.7% during the 2nd quarter. Meeder Advisory Services Inc. now owns 8,223 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 926 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Price Performance

Shares of RPRX stock opened at $28.26 on Tuesday. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 0.78. Royalty Pharma plc has a 12-month low of $25.20 and a 12-month high of $31.66. The firm has a fifty day moving average of $27.85 and a 200-day moving average of $28.03. The firm has a market capitalization of $16.77 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 4.06 and a beta of 0.46.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $600.83 million. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. During the same period in the previous year, the firm earned $0.85 earnings per share. On average, equities research analysts forecast that Royalty Pharma plc will post 4.04 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently announced 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 yield of 2.97%. Royalty Pharma’s payout ratio is 62.69%.

Analyst Ratings Changes

Several equities analysts recently weighed in on RPRX shares. Morgan Stanley increased their price objective on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday. The Goldman Sachs Group upped their price objective on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, UBS Group cut Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Royalty Pharma currently has an average rating of “Moderate Buy” and an average price target of $42.00.

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.