First Trust Direct Indexing L.P. Raises Position in Royalty Pharma plc (NASDAQ:RPRX)

First Trust Direct Indexing L.P. raised its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 41.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,847 shares of the biopharmaceutical company’s stock after acquiring an additional 7,817 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Royalty Pharma were worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc boosted 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 worth $28,000 after acquiring an additional 1,043 shares during the last quarter. Blue Trust Inc. raised its position in shares of Royalty Pharma by 362.7% during the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 943 shares during the period. Gladius Capital Management LP bought a new stake in shares of Royalty Pharma during the 2nd quarter valued at $32,000. Fidelis Capital Partners LLC bought a new stake in shares of Royalty Pharma during the 1st quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of 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 purchasing an additional 655 shares during the period. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

RPRX stock opened at $27.10 on Friday. Royalty Pharma plc has a 12 month low of $25.20 and a 12 month high of $31.66. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $27.97 and a 200 day moving average price of $27.57. The stock has a market cap of $16.08 billion, a PE ratio of 23.98, a P/E/G ratio of 4.00 and a beta of 0.46.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $600.83 million. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. During the same period in the previous year, the company earned $0.85 EPS. Equities research analysts anticipate that Royalty Pharma plc will post 4.05 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.10%. Royalty Pharma’s dividend payout ratio is currently 74.34%.

Analysts Set New Price Targets

Several analysts have recently commented on RPRX shares. Citigroup decreased their price objective on shares of Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. StockNews.com downgraded shares of Royalty Pharma from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Morgan Stanley lifted their price target 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. Finally, The Goldman Sachs Group lifted their price target 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Royalty Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $41.67.

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.