Rehmann Capital Advisory Group Sells 8,893 Shares of Royalty Pharma PLC $RPRX

Rehmann Capital Advisory Group trimmed its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 50.4% in the second quarter, HoldingsChannel reports. The firm owned 8,756 shares of the biopharmaceutical company’s stock after selling 8,893 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Royalty Pharma were worth $315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. USA Financial Formulas bought a new position in Royalty Pharma during the second quarter worth $32,000. Summit Securities Group LLC bought a new position in Royalty Pharma during the first quarter worth $36,000. WPG Advisers LLC bought a new position in Royalty Pharma during the first quarter worth $39,000. MassMutual Private Wealth & Trust FSB boosted its position in Royalty Pharma by 42.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 402 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Royalty Pharma by 113.8% in the second quarter. Farther Finance Advisors LLC now owns 1,428 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 760 shares during the period. 54.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RPRX shares. Morgan Stanley reduced their target price on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Weiss Ratings raised shares of Royalty Pharma from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Citigroup boosted their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Wall Street Zen cut shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, The Goldman Sachs Group started coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They issued a “buy” rating and a $42.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $46.00.

Royalty Pharma Trading Up 1.1%

RPRX opened at $37.26 on Friday. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00. The company has a 50-day simple moving average of $36.12 and a 200 day simple moving average of $35.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $21.73 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 2.02 and a beta of 0.60.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The business had revenue of $578.67 million during the quarter, compared to analysts’ expectations of $750.06 million. Analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. Royalty Pharma’s dividend payout ratio is 50.87%.

About Royalty Pharma

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.