Xcel Wealth Management LLC Buys New Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Xcel Wealth Management LLC bought a new stake in Royalty Pharma plc (NASDAQ:RPRX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,200 shares of the biopharmaceutical company’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC acquired a new position in shares of Royalty Pharma in the second quarter valued at $27,000. US Bancorp DE acquired a new position in shares of Royalty Pharma in the second quarter valued at $44,000. Essex Investment Management Co. LLC acquired a new position in shares of Royalty Pharma in the second quarter valued at $49,000. Sontag Advisory LLC acquired a new position in shares of Royalty Pharma in the second quarter valued at $85,000. Finally, Fifth Third Bancorp acquired a new position in shares of Royalty Pharma in the second quarter valued at $97,000. Institutional investors and hedge funds own 36.37% of the company’s stock.

Shares of RPRX stock traded down $0.84 during trading hours on Friday, hitting $35.50. 6,593 shares of the company’s stock were exchanged, compared to its average volume of 1,563,361. The company has a 50-day moving average price of $41.17. The company has a debt-to-equity ratio of 0.61, a quick ratio of 7.52 and a current ratio of 7.52. Royalty Pharma plc has a 52 week low of $34.80 and a 52 week high of $56.50.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, August 12th. The biopharmaceutical company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.61 by $0.12. The business had revenue of $511.00 million for the quarter, compared to the consensus estimate of $509.88 million. As a group, analysts forecast that Royalty Pharma plc will post 2.33 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, November 19th.

In other news, Director Rory B. Riggs sold 463,200 shares of the company’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $42.00, for a total transaction of $19,454,400.00. Following the transaction, the director now owns 463,200 shares of the company’s stock, valued at $19,454,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

A number of brokerages have weighed in on RPRX. SunTrust Banks began coverage on Royalty Pharma in a research report on Monday, July 13th. They issued a “buy” rating and a $56.00 price target on the stock. Evercore ISI began coverage on Royalty Pharma in a research report on Tuesday, July 14th. They issued a “hold” rating on the stock. Zacks Investment Research cut Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, October 14th. UBS Group began coverage on Royalty Pharma in a research report on Monday, July 13th. They issued a “neutral” rating and a $52.00 price target on the stock. Finally, Morgan Stanley began coverage on Royalty Pharma in a research report on Monday, July 13th. They issued an “equal weight” rating and a $51.00 price target on the stock. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Royalty Pharma currently has a consensus rating of “Hold” and an average target price of $52.00.

About Royalty Pharma

Royalty Pharma plc operates in the biopharmaceutical industry. The company operates as a buyer of biopharmaceutical royalties and a funder of innovation in the biopharmaceutical industry. It is involved in the identification, evaluation, and acquisition of royalties and royalty-related assets on various biopharmaceutical therapies.

Further Reading: How Do Mutual Funds Work?

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Institutional Ownership by Quarter for Royalty Pharma (NASDAQ:RPRX)

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