Campbell & CO Investment Adviser LLC Sells 44,320 Shares of Royalty Pharma PLC $RPRX

Key Points

• Campbell & CO Investment Adviser LLC reduced its stake in Royalty Pharma PLC by 46.5%, now holding 50,900 shares valued at $1.59 million.
• Royalty Pharma recently reported quarterly earnings of $1.14 EPS, exceeding estimates, while total revenue was $578.67 million, below analyst expectations of $750.06 million.
• The company announced a quarterly dividend of $0.22 per share, with a dividend yield of 2.4%, set to be paid on September 10th.

Campbell & CO Investment Adviser LLC trimmed its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 46.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,900 shares of the biopharmaceutical company's stock after selling 44,320 shares during the quarter. Campbell & CO Investment Adviser LLC's holdings in Royalty Pharma were worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Merit Financial Group LLC bought a new position in Royalty Pharma in the first quarter valued at approximately $252,000. M&T Bank Corp raised its holdings in Royalty Pharma by 23.4% in the first quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company's stock worth $902,000 after purchasing an additional 5,500 shares during the period. Yousif Capital Management LLC acquired a new stake in Royalty Pharma in the first quarter worth $275,000. Asset Management One Co. Ltd. raised its holdings in Royalty Pharma by 8.0% in the first quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company's stock worth $5,134,000 after purchasing an additional 12,148 shares during the period. Finally, Amalgamated Bank raised its holdings in Royalty Pharma by 4.4% in the first quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company's stock worth $636,000 after purchasing an additional 866 shares during the period. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Stock Performance

Shares of RPRX stock traded up $0.36 during midday trading on Friday, hitting $35.98. 2,993,986 shares of the company were exchanged, compared to its average volume of 4,289,359. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $20.98 billion, a P/E ratio of 20.80, a PEG ratio of 2.35 and a beta of 0.55. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $38.00. The firm's 50 day moving average price is $36.26 and its two-hundred day moving average price is $34.02.

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 firm had revenue of $578.67 million during the quarter, compared to the consensus estimate of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. As a group, equities research analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on RPRX. Morgan Stanley increased their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Citigroup raised their price objective 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. Finally, Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $48.00.

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.