Allspring Global Investments Holdings LLC cut its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 95.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,548 shares of the biopharmaceutical company's stock after selling 537,176 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Royalty Pharma were worth $881,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. USA Financial Formulas acquired a new position in Royalty Pharma in the second quarter valued at approximately $32,000. Summit Securities Group LLC bought a new stake in shares of Royalty Pharma in the 1st quarter valued at $36,000. WPG Advisers LLC acquired a new stake in Royalty Pharma in the first quarter worth $39,000. Allworth Financial LP increased its stake in Royalty Pharma by 41.6% in the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 452 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of 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 valued at $49,000 after purchasing an additional 402 shares during the period. Institutional investors own 54.35% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Citigroup boosted their price objective on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Morgan Stanley decreased their price target on shares of Royalty Pharma from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Friday, October 10th. Wall Street Zen downgraded shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Saturday, September 13th. Weiss Ratings upgraded shares of Royalty Pharma from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group assumed coverage on shares of Royalty Pharma in a research report on Tuesday, September 30th. They set a "buy" rating and a $42.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat, Royalty Pharma has an average rating of "Buy" and an average price target of $46.00.
Get Our Latest Analysis on RPRX
Royalty Pharma Stock Down 1.7%
RPRX opened at $36.84 on Thursday. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $38.00. The firm has a market capitalization of $21.48 billion, a P/E ratio of 21.29, a PEG ratio of 2.06 and a beta of 0.60. The company's 50-day moving average is $36.10 and its 200 day moving average is $34.91. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The company had revenue of $578.67 million during the quarter, compared to the consensus estimate of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. Research analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.
Royalty Pharma Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 14th. This represents a $0.88 annualized dividend and a yield of 2.4%. Royalty Pharma's dividend payout ratio is presently 50.87%.
Royalty Pharma Company 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.
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