Manning & Napier Advisors LLC Has $1.14 Million Position in Royalty Pharma PLC (NASDAQ:RPRX)

Manning & Napier Advisors LLC cut its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 54.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 36,549 shares of the biopharmaceutical company's stock after selling 44,505 shares during the period. Manning & Napier Advisors LLC's holdings in Royalty Pharma were worth $1,138,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in shares of Royalty Pharma by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company's stock worth $79,888,000 after acquiring an additional 130,025 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Royalty Pharma in the 4th quarter valued at about $4,950,000. Merit Financial Group LLC acquired a new stake in Royalty Pharma in the first quarter worth approximately $252,000. Truist Financial Corp acquired a new position in Royalty Pharma during the fourth quarter worth about $371,000. Finally, New South Capital Management Inc. lifted its stake in Royalty Pharma by 19.9% during the fourth quarter. New South Capital Management Inc. now owns 2,957,125 shares of the biopharmaceutical company's stock valued at $75,436,000 after purchasing an additional 490,754 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Up 2.1%

Shares of Royalty Pharma stock traded up $0.74 during trading on Tuesday, hitting $36.14. 7,981,795 shares of the stock traded hands, compared to its average volume of 3,664,565. The company has a fifty day moving average price of $33.20 and a two-hundred day moving average price of $31.35. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $36.32. The stock has a market cap of $20.32 billion, a P/E ratio of 19.54, a PEG ratio of 1.79 and a beta of 0.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56.

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

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Friday, May 16th. Royalty Pharma's dividend payout ratio (DPR) is currently 47.57%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on RPRX shares. Wall Street Zen raised Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup restated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Finally, Morgan Stanley initiated coverage on shares of Royalty Pharma in a research report on Friday, May 16th. They issued an "overweight" rating and a $51.00 target price on the stock. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Royalty Pharma has an average rating of "Buy" and an average target price of $47.33.

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.