Inlet Private Wealth LLC Acquires New Position in Royalty Pharma plc (NASDAQ:RPRX)

Inlet Private Wealth LLC purchased a new stake in shares of Royalty Pharma plc (NASDAQ:RPRX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 188,460 shares of the biopharmaceutical company’s stock, valued at approximately $5,332,000. Royalty Pharma makes up about 1.4% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 25th biggest position.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of Royalty Pharma by 5,215.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 1,043 shares in the last quarter. Gladius Capital Management LP bought a new stake in Royalty Pharma during the 2nd quarter valued at approximately $32,000. Fidelis Capital Partners LLC purchased a new position in Royalty Pharma in the 1st quarter worth approximately $46,000. GAMMA Investing LLC boosted its stake in Royalty Pharma by 172.5% in the 1st quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 1,037 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Royalty Pharma by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 655 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Price Performance

Shares of Royalty Pharma stock traded down $0.14 during trading hours on Thursday, reaching $28.08. The company’s stock had a trading volume of 559,396 shares, compared to its average volume of 2,606,262. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. Royalty Pharma plc has a one year low of $25.20 and a one year high of $31.66. The firm has a 50 day moving average price of $27.91 and a 200-day moving average price of $27.70. The stock has a market cap of $16.66 billion, a P/E ratio of 24.66, a P/E/G ratio of 4.05 and a beta of 0.46.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data 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 business had revenue of $537.00 million for the quarter, compared to the consensus estimate 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 prior year, the business posted $0.85 earnings per share. On average, analysts predict that Royalty Pharma plc will post 4.04 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 2.99%. Royalty Pharma’s dividend payout ratio (DPR) is 74.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RPRX. Morgan Stanley upped their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. The Goldman Sachs Group increased their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price 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.