D.A. Davidson & CO. Trims Position in Royalty Pharma PLC (NASDAQ:RPRX)

D.A. Davidson & CO. trimmed its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 21.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,635 shares of the biopharmaceutical company's stock after selling 10,511 shares during the period. D.A. Davidson & CO.'s holdings in Royalty Pharma were worth $1,172,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Louisbourg Investments Inc. purchased a new stake in Royalty Pharma during the 1st quarter valued at $28,000. MassMutual Private Wealth & Trust FSB raised its position in Royalty Pharma by 76.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock valued at $30,000 after purchasing an additional 414 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in Royalty Pharma by 160.5% in the 4th quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock worth $42,000 after buying an additional 1,003 shares during the period. Westpac Banking Corp bought a new stake in shares of Royalty Pharma in the 4th quarter worth approximately $53,000. Finally, National Bank of Canada FI lifted its stake in Royalty Pharma by 21.8% in the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 371 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Down 0.8%

Shares of NASDAQ RPRX traded down $0.28 on Friday, reaching $35.84. 1,690,401 shares of the company's stock traded hands, compared to its average volume of 3,709,662. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68. The company has a market cap of $20.15 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.84 and a beta of 0.50. The business's 50 day simple moving average is $34.19 and its two-hundred day simple moving average is $32.31. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $36.56.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. The firm had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. As a group, equities research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a $0.22 dividend. The ex-dividend date was Friday, May 16th. This represents a $0.88 annualized dividend and a yield of 2.46%. Royalty Pharma's dividend payout ratio (DPR) is presently 47.57%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Finally, Morgan Stanley set a $54.00 target price on Royalty Pharma and gave the company an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $48.33.

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.