GMT Capital Corp Sells 890,200 Shares of Royalty Pharma PLC $RPRX

Key Points

• GMT Capital Corp decreased its ownership in Royalty Pharma by 27.2%, holding 2,377,500 shares valued at approximately $74 million, making it their 12th largest investment.
• Multiple research firms have revised their price targets for Royalty Pharma, with Morgan Stanley raising its target from $51 to $54, and Citigroup increasing its target from $40 to $42.
• Royalty Pharma announced a quarterly dividend of $0.22 per share, representing a 2.4% yield, with the payout scheduled for September 10th for shareholders of record on August 15th.

GMT Capital Corp trimmed its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 27.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,377,500 shares of the biopharmaceutical company's stock after selling 890,200 shares during the quarter. Royalty Pharma accounts for about 3.9% of GMT Capital Corp's holdings, making the stock its 12th largest position. GMT Capital Corp owned about 0.41% of Royalty Pharma worth $74,012,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RPRX. Two Sigma Advisers LP grew its position in Royalty Pharma by 21.1% during the fourth quarter. Two Sigma Advisers LP now owns 3,673,200 shares of the biopharmaceutical company's stock worth $93,703,000 after buying an additional 640,000 shares in the last quarter. Victory Capital Management Inc. grew its position in Royalty Pharma by 270.4% during the first quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company's stock worth $112,788,000 after buying an additional 2,644,923 shares in the last quarter. Northern Trust Corp grew its position in Royalty Pharma by 12.8% during the fourth quarter. Northern Trust Corp now owns 3,330,429 shares of the biopharmaceutical company's stock worth $84,959,000 after buying an additional 376,619 shares in the last quarter. Deutsche Bank AG grew its position in Royalty Pharma by 36.2% during the fourth quarter. Deutsche Bank AG now owns 3,189,964 shares of the biopharmaceutical company's stock worth $81,376,000 after buying an additional 847,704 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Royalty Pharma by 46.7% in the 4th quarter. Bank of America Corp DE now owns 2,985,585 shares of the biopharmaceutical company's stock worth $76,162,000 after purchasing an additional 950,880 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Stock Up 1.4%

Shares of NASDAQ:RPRX traded up $0.49 during trading on Wednesday, hitting $36.66. The stock had a trading volume of 5,811,252 shares, compared to its average volume of 4,289,353. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $38.00. The company has a market capitalization of $21.38 billion, a PE ratio of 21.19, a PEG ratio of 2.35 and a beta of 0.58. The firm's fifty day moving average is $36.29 and its 200 day moving average is $34.11. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74.

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

Royalty Pharma Dividend Announcement

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

Wall Street Analyst Weigh In

RPRX has been the subject of a number of research reports. Wall Street Zen upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup upped 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 target price on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average 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.