Royalty Pharma PLC $RPRX Stake Lessened by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. reduced its stake in Royalty Pharma PLC by 17.7%, owning 51,181 shares valued at approximately $1.59 million following a sale of 11,010 shares.
• Royalty Pharma recently declared a quarterly dividend of $0.22 per share, representing an annual yield of 2.4%, with payment scheduled for September 10th.
• Wall Street analysts have upgraded Royalty Pharma's stock ratings, with recent price targets raised to as high as $54.00, reflecting a positive outlook on the company's performance.

Baird Financial Group Inc. reduced its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 17.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,181 shares of the biopharmaceutical company's stock after selling 11,010 shares during the period. Baird Financial Group Inc.'s holdings in Royalty Pharma were worth $1,593,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RPRX. Victory Capital Management Inc. boosted its stake in shares of Royalty Pharma by 270.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company's stock worth $112,788,000 after purchasing an additional 2,644,923 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Royalty Pharma by 2,543.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,081,128 shares of the biopharmaceutical company's stock worth $33,656,000 after purchasing an additional 1,040,234 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Royalty Pharma during the 1st quarter worth about $31,591,000. Bank of America Corp DE boosted its stake in shares of Royalty Pharma by 46.7% during the 4th quarter. Bank of America Corp DE now owns 2,985,585 shares of the biopharmaceutical company's stock worth $76,162,000 after purchasing an additional 950,880 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in shares of Royalty Pharma by 462.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,090,591 shares of the biopharmaceutical company's stock worth $33,950,000 after purchasing an additional 896,555 shares during the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Trading Down 0.9%

RPRX stock traded down $0.34 during midday trading on Friday, reaching $36.36. 3,652,487 shares of the company's stock traded hands, compared to its average volume of 3,744,514. The company has a market capitalization of $21.20 billion, a P/E ratio of 21.02, a PEG ratio of 2.29 and a beta of 0.58. The business has a 50-day moving average price of $36.36 and a two-hundred day moving average price of $34.28. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $38.00. 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 posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The company 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%. Equities research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid 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 50.87%.

Wall Street Analyst Weigh In

RPRX has been the topic of several analyst reports. Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Morgan Stanley raised their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Citigroup raised their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $48.00.

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.