Baird Financial Group Inc. Has $1.59 Million Position in Royalty Pharma PLC $RPRX

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. lowered its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 17.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,181 shares of the biopharmaceutical company's stock after selling 11,010 shares during the quarter. Baird Financial Group Inc.'s holdings in Royalty Pharma were worth $1,593,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Applied Finance Capital Management LLC raised its position in shares of Royalty Pharma by 3.0% during the first quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock worth $351,000 after purchasing an additional 329 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Royalty Pharma by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock worth $1,238,000 after buying an additional 349 shares in the last quarter. Sherbrooke Park Advisers LLC grew its holdings in shares of Royalty Pharma by 1.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock worth $890,000 after buying an additional 380 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 414 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Royalty Pharma by 41.6% during the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 452 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Stock Down 2.2%

RPRX stock opened at $36.07 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average price of $36.34 and a two-hundred day moving average price of $34.20. The company has a market cap of $21.03 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 2.25 and a beta of 0.58. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The firm 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%. Analysts anticipate that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, August 15th. Royalty Pharma's dividend payout ratio (DPR) is currently 50.87%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Citigroup increased their price objective on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley increased their price objective on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $48.00.

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.

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