Inlet Private Wealth LLC Invests $5.33 Million in Royalty Pharma plc (NASDAQ:RPRX)

Inlet Private Wealth LLC acquired a new position in Royalty Pharma plc (NASDAQ:RPRX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 188,460 shares of the biopharmaceutical company’s stock, valued at approximately $5,332,000. Royalty Pharma accounts for about 1.4% of Inlet Private Wealth LLC’s portfolio, making the stock its 25th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB increased its holdings in shares of Royalty Pharma by 2.0% in the 3rd quarter. Swedbank AB now owns 11,027,370 shares of the biopharmaceutical company’s stock valued at $311,964,000 after acquiring an additional 213,900 shares during the period. New South Capital Management Inc. raised its holdings in Royalty Pharma by 60.7% in the second quarter. New South Capital Management Inc. now owns 2,348,977 shares of the biopharmaceutical company’s stock worth $61,943,000 after purchasing an additional 887,522 shares in the last quarter. Homestead Advisers Corp lifted its position in shares of Royalty Pharma by 40.7% during the first quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock valued at $57,502,000 after buying an additional 547,000 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Royalty Pharma by 10.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,856,998 shares of the biopharmaceutical company’s stock valued at $56,396,000 after buying an additional 175,261 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Royalty Pharma by 6.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,094 shares of the biopharmaceutical company’s stock worth $40,428,000 after acquiring an additional 86,248 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX traded down $0.14 during mid-day trading on Thursday, hitting $28.08. The stock had a trading volume of 559,396 shares, compared to its average volume of 2,606,262. The company has a 50 day moving average of $27.91 and a two-hundred day moving average of $27.70. Royalty Pharma plc has a twelve month low of $25.20 and a twelve month high of $31.66. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.35 and a current ratio of 9.35. The firm has a market cap of $16.66 billion, a PE ratio of 24.66, a PEG ratio of 4.05 and a beta of 0.46.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the business posted $0.85 earnings per share. Research analysts predict that Royalty Pharma plc will post 4.04 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently disclosed 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. This represents a $0.84 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma’s dividend payout ratio (DPR) is currently 74.34%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RPRX. The Goldman Sachs Group lifted their price target on shares of Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley upped their target price on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.