HighTower Advisors LLC Has $5.34 Million Stock Holdings in Royalty Pharma PLC $RPRX

HighTower Advisors LLC trimmed its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,394 shares of the biopharmaceutical company’s stock after selling 2,017 shares during the quarter. HighTower Advisors LLC’s holdings in Royalty Pharma were worth $5,335,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC bought a new stake in Royalty Pharma during the 1st quarter worth approximately $252,000. M&T Bank Corp grew its holdings in Royalty Pharma by 23.4% during the 1st quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company’s stock worth $902,000 after acquiring an additional 5,500 shares during the last quarter. Yousif Capital Management LLC bought a new stake in Royalty Pharma during the 1st quarter worth approximately $275,000. Asset Management One Co. Ltd. grew its holdings in Royalty Pharma by 8.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company’s stock worth $5,134,000 after acquiring an additional 12,148 shares during the last quarter. Finally, Amalgamated Bank grew its holdings in Royalty Pharma by 4.4% during the 1st quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company’s stock worth $636,000 after acquiring an additional 866 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RPRX shares. Citigroup boosted their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Wall Street Zen raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Morgan Stanley upped their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $48.00.

Royalty Pharma Stock Up 0.2%

Shares of NASDAQ RPRX opened at $36.00 on Wednesday. The firm has a market cap of $20.99 billion, a PE ratio of 20.81, a P/E/G ratio of 2.34 and a beta of 0.55. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $38.00. The company’s fifty day simple moving average is $36.07 and its 200 day simple moving average is $33.81. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74.

Royalty Pharma (NASDAQ:RPRX) last issued its 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 business 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%. As a group, sell-side analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.88 annualized dividend and a yield of 2.4%. Royalty Pharma’s dividend payout ratio is currently 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.