Royalty Pharma PLC $RPRX Shares Sold by Board of the Pension Protection Fund

Board of the Pension Protection Fund reduced its holdings in Royalty Pharma PLC (NASDAQ:RPRX) by 58.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,000 shares of the biopharmaceutical company’s stock after selling 18,200 shares during the quarter. Board of the Pension Protection Fund’s holdings in Royalty Pharma were worth $468,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of Royalty Pharma by 270.4% during the first quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company’s stock valued at $112,788,000 after purchasing an additional 2,644,923 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Royalty Pharma by 2,543.7% during the first quarter. Los Angeles Capital Management LLC now owns 1,081,128 shares of the biopharmaceutical company’s stock valued at $33,656,000 after purchasing an additional 1,040,234 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of Royalty Pharma by 462.1% during the first quarter. Jupiter Asset Management Ltd. now owns 1,090,591 shares of the biopharmaceutical company’s stock valued at $33,950,000 after purchasing an additional 896,555 shares during the period. Nuveen LLC acquired a new position in Royalty Pharma during the 1st quarter valued at about $27,749,000. Finally, AQR Capital Management LLC increased its stake in Royalty Pharma by 37.0% during the 1st quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company’s stock valued at $80,381,000 after buying an additional 704,414 shares during the period. 54.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Royalty Pharma Trading Down 0.4%

Royalty Pharma stock opened at $36.01 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $21.00 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 2.27 and a beta of 0.60. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $38.00. The firm’s 50 day moving average price is $36.18 and its two-hundred day moving average price is $34.65.

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

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, August 15th. Royalty Pharma’s payout ratio is presently 50.87%.

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.