Spire Wealth Management Reduces Position in Royalty Pharma PLC (NASDAQ:RPRX)

Spire Wealth Management lessened its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 44.4% in the first quarter, HoldingsChannel.com reports. The firm owned 1,195 shares of the biopharmaceutical company’s stock after selling 954 shares during the quarter. Spire Wealth Management’s holdings in Royalty Pharma were worth $37,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RPRX. Nissay Asset Management Corp Japan ADV lifted its stake in Royalty Pharma by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company’s stock worth $1,238,000 after acquiring an additional 349 shares during the period. National Bank of Canada FI lifted its stake in 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 worth $53,000 after acquiring an additional 371 shares during the period. Sherbrooke Park Advisers LLC lifted its stake in Royalty Pharma by 1.1% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company’s stock worth $890,000 after acquiring an additional 380 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Royalty Pharma by 76.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 414 shares during the period. Finally, Arizona State Retirement System lifted its stake in Royalty Pharma by 0.5% in the fourth quarter. Arizona State Retirement System now owns 110,637 shares of the biopharmaceutical company’s stock worth $2,822,000 after acquiring an additional 537 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock opened at $36.19 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $20.35 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.84 and a beta of 0.50. The business has a fifty day simple moving average of $33.71 and a two-hundred day simple moving average of $31.77. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $36.33.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. The business 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, equities analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.88 annualized dividend and a dividend yield of 2.43%. Royalty Pharma’s payout ratio is presently 47.57%.

Wall Street Analyst Weigh In

A number of analysts recently commented on RPRX shares. Wall Street Zen lowered Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Sunday. Citigroup reissued a “buy” rating on shares of Royalty Pharma in a research report on Friday, March 28th. Finally, Morgan Stanley started coverage on Royalty Pharma in a research report on Friday, May 16th. They set an “overweight” rating and a $51.00 price objective for the company. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $47.33.

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.