Brandywine Global Investment Management LLC Has $53.56 Million Holdings in Royalty Pharma PLC $RPRX

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Royalty Pharma PLC by 12.1%, owning approximately 1.72 million shares worth about $53.6 million after selling 237,926 shares.
• Royalty Pharma recently announced a quarterly dividend of $0.22 per share, with an annualized yield of 2.4% and a payout ratio of 50.87%.
• Analysts have set new price targets for Royalty Pharma, with Morgan Stanley increasing their price objective from $51.00 to $54.00, reflecting a positive outlook on the stock.

Brandywine Global Investment Management LLC reduced its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 12.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,720,376 shares of the biopharmaceutical company's stock after selling 237,926 shares during the period. Brandywine Global Investment Management LLC owned about 0.30% of Royalty Pharma worth $53,555,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RPRX. Wells Fargo & Company MN boosted its position in shares of Royalty Pharma by 29.1% during the fourth quarter. Wells Fargo & Company MN now owns 70,120 shares of the biopharmaceutical company's stock worth $1,789,000 after buying an additional 15,790 shares during the period. Invesco Ltd. boosted its position in shares of Royalty Pharma by 33.2% during the fourth quarter. Invesco Ltd. now owns 957,893 shares of the biopharmaceutical company's stock worth $24,436,000 after buying an additional 238,508 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Royalty Pharma during the fourth quarter worth about $19,990,000. Sterling Capital Management LLC boosted its position in shares of Royalty Pharma by 30.4% during the fourth quarter. Sterling Capital Management LLC now owns 34,595 shares of the biopharmaceutical company's stock worth $883,000 after buying an additional 8,071 shares during the period. Finally, Barclays PLC boosted its position in shares of Royalty Pharma by 17.6% during the fourth quarter. Barclays PLC now owns 363,308 shares of the biopharmaceutical company's stock worth $9,269,000 after buying an additional 54,421 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RPRX has been the subject of several recent research reports. Citigroup upped their price objective on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Wall Street Zen upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Morgan Stanley raised their price target on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $48.00.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX traded up $0.88 during midday trading on Wednesday, hitting $36.88. 3,780,438 shares of the company's stock were exchanged, compared to its average volume of 2,896,206. 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 firm has a market capitalization of $21.51 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 2.35 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 50 day moving average price is $36.12 and its 200 day moving average price is $33.83.

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. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%.The business had revenue of $578.67 million for the quarter, compared to analysts' expectations of $750.06 million. As a group, analysts predict 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. Stockholders of record on Friday, August 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 15th. Royalty Pharma's dividend payout ratio (DPR) is currently 50.87%.

Royalty Pharma Company 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.