Victory Capital Management Inc. Reduces Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Victory Capital Management Inc. decreased its position in shares of Royalty Pharma plc (NASDAQ:RPRXFree Report) by 21.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 265,711 shares of the biopharmaceutical company’s stock after selling 73,179 shares during the quarter. Victory Capital Management Inc.’s holdings in Royalty Pharma were worth $7,464,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in shares of Royalty Pharma by 89.8% during the third quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 451 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Royalty Pharma by 112.0% during the third quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 531 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Royalty Pharma by 485.2% during the fourth quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 1,999 shares during the last quarter. Rakuten Securities Inc. purchased a new position in shares of Royalty Pharma during the fourth quarter worth about $110,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Royalty Pharma by 10.8% during the third quarter. PNC Financial Services Group Inc. now owns 5,509 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 536 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RPRX. JPMorgan Chase & Co. reduced their price objective on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. StockNews.com downgraded shares of Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Bank of America reduced their price target on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Finally, The Goldman Sachs Group reduced their price target on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Royalty Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Get Our Latest Stock Report on RPRX

Royalty Pharma Trading Down 1.1 %

Shares of Royalty Pharma stock opened at $28.07 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 12.52 and a quick ratio of 12.52. Royalty Pharma plc has a 1 year low of $25.92 and a 1 year high of $34.74. The company has a market capitalization of $16.77 billion, a P/E ratio of 20.95 and a beta of 0.47. The business has a 50 day moving average price of $29.05 and a 200 day moving average price of $28.63.

Royalty Pharma (NASDAQ:RPRXGet Free Report) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $568.00 million during the quarter, compared to analysts’ expectations of $671.45 million. Royalty Pharma had a net margin of 35.70% and a return on equity of 22.94%. During the same period in the previous year, the company earned $1.60 EPS. Sell-side analysts anticipate that Royalty Pharma plc will post 4 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be paid a $0.21 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 2.99%. Royalty Pharma’s payout ratio is currently 62.69%.

Royalty Pharma Profile

(Free Report)

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.

Further Reading

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

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