Overbrook Management Corp Trims Position in Royalty Pharma PLC $RPRX

Key Points

• Overbrook Management Corp reduced its stake in Royalty Pharma PLC by 17.5%, now holding 48,208 shares valued at approximately $1.73 million.
• Several institutional investors have changed their positions in Royalty Pharma, including Ballentine Partners LLC which increased its stake by 38.0%.
• Royalty Pharma recently declared a quarterly dividend of $0.22 per share, yielding 2.5% annually, with a payout ratio of 50.87%.

Overbrook Management Corp decreased its stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 17.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,208 shares of the biopharmaceutical company's stock after selling 10,200 shares during the quarter. Overbrook Management Corp's holdings in Royalty Pharma were worth $1,737,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Signaturefd LLC increased its position in Royalty Pharma by 17.2% in the second quarter. Signaturefd LLC now owns 3,158 shares of the biopharmaceutical company's stock worth $114,000 after buying an additional 464 shares in the last quarter. Augustine Asset Management Inc. increased its position in Royalty Pharma by 4.4% in the second quarter. Augustine Asset Management Inc. now owns 6,722 shares of the biopharmaceutical company's stock worth $242,000 after buying an additional 283 shares in the last quarter. Ruffer LLP purchased a new stake in Royalty Pharma in the second quarter worth about $6,411,000. Public Employees Retirement System of Ohio increased its position in Royalty Pharma by 3.4% in the second quarter. Public Employees Retirement System of Ohio now owns 144,133 shares of the biopharmaceutical company's stock worth $5,193,000 after buying an additional 4,755 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in Royalty Pharma by 38.0% in the second quarter. Ballentine Partners LLC now owns 10,729 shares of the biopharmaceutical company's stock worth $387,000 after buying an additional 2,955 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RPRX. Morgan Stanley upped their price target on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Citigroup increased their target price on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $48.00.

Royalty Pharma Price Performance

Shares of Royalty Pharma stock opened at $35.04 on Monday. The stock has a 50 day moving average of $36.31 and a 200 day moving average of $34.47. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $38.00. The firm has a market cap of $20.43 billion, a PE ratio of 20.25, a PEG ratio of 2.19 and a beta of 0.58. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74.

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

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. Royalty Pharma's dividend payout ratio is presently 50.87%.

Royalty Pharma 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.

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