New York State Common Retirement Fund cut its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 29.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 189,293 shares of the biopharmaceutical company's stock after selling 77,522 shares during the quarter. New York State Common Retirement Fund's holdings in Royalty Pharma were worth $5,893,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in RPRX. Nissay Asset Management Corp Japan ADV grew its stake in shares of Royalty Pharma by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock worth $1,238,000 after acquiring an additional 349 shares during the period. National Bank of Canada FI grew its holdings in Royalty Pharma by 21.8% during the 4th quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 371 shares in the last quarter. Sherbrooke Park Advisers LLC grew its holdings in Royalty Pharma by 1.1% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock valued at $890,000 after buying an additional 380 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings 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 buying an additional 414 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Royalty Pharma by 41.6% in the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 452 shares during the period. 54.35% of the stock is owned by hedge funds and other institutional investors.
Royalty Pharma Trading Up 0.6%
RPRX stock traded up $0.23 during midday trading on Thursday, reaching $36.24. 357,657 shares of the company traded hands, compared to its average volume of 4,522,436. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $36.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. The business has a 50 day moving average of $34.68 and a 200-day moving average of $32.88. The firm has a market capitalization of $20.38 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.40 and a beta of 0.50.
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, 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 firm had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.88 annualized dividend and a yield of 2.43%. Royalty Pharma's payout ratio is currently 47.57%.
Wall Street Analysts Forecast Growth
RPRX has been the subject of a number of research analyst reports. Citigroup lifted their price target on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Tuesday. Morgan Stanley set a $54.00 target price on Royalty Pharma and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Royalty Pharma presently has an average rating of "Buy" and a consensus target price of $49.00.
View Our Latest Research Report on Royalty Pharma
Royalty Pharma Company Profile
(
Free Report)
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.
Further Reading
Before you consider Royalty Pharma, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Royalty Pharma wasn't on the list.
While Royalty Pharma currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
