Fox Run Management L.L.C. Sells 34,416 Shares of Royalty Pharma PLC $RPRX

Key Points

• Fox Run Management L.L.C. has reduced its stake in Royalty Pharma PLC by 62.5%, now holding 20,646 shares valued at $643,000 after selling 34,416 shares in Q1.
• Equities analysts have increased their target prices for Royalty Pharma, with Citigroup raising it to $42.00 and Morgan Stanley to $54.00, both assigning "buy" or "overweight" ratings.
• Royalty Pharma announced a quarterly dividend of $0.22 per share, with a record date of August 15th, reflecting a 2.4% dividend yield.

Fox Run Management L.L.C. decreased its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 62.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,646 shares of the biopharmaceutical company's stock after selling 34,416 shares during the period. Fox Run Management L.L.C.'s holdings in Royalty Pharma were worth $643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RPRX. Louisbourg Investments Inc. bought a new position in Royalty Pharma in the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB grew its stake in Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock valued at $30,000 after acquiring an additional 414 shares in the last quarter. Allworth Financial LP increased its holdings in Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 452 shares during the last quarter. Transce3nd LLC bought a new stake in Royalty Pharma in the 4th quarter valued at $61,000. Finally, Friedenthal Financial purchased a new stake in Royalty Pharma in the 1st quarter worth $77,000. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Trading Down 1.7%

RPRX stock traded down $0.6250 during midday trading on Thursday, reaching $36.2550. 1,618,076 shares of the company traded hands, compared to its average volume of 4,335,110. The firm has a market capitalization of $21.14 billion, a price-to-earnings ratio of 20.96, a P/E/G 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 business has a 50 day moving average of $36.12 and a 200-day moving average of $33.83. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $578.67 million during the quarter, compared to analysts' expectations of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. As a group, sell-side analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $0.22 per share. 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 presently 50.87%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RPRX shares. Wall Street Zen upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Morgan Stanley raised their price target on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Citigroup lifted their price objective on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. 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, Royalty Pharma has an average rating of "Buy" and a consensus price target 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.