Pacific Capital Partners Ltd Decreases Holdings in Royalty Pharma PLC $RPRX

Key Points

• Pacific Capital Partners Ltd reduced its stake in Royalty Pharma PLC by 44.3%, selling 77,500 shares, leaving it with 97,500 shares valued at approximately $3.5 million.
• Several other institutional investors, including Two Sigma Advisers LP and Victory Capital Management Inc., significantly increased their holdings in Royalty Pharma, with Victory Capital raising its stake by 270.4%.
• The average price target for Royalty Pharma shares has been adjusted to $48.00, with Citigroup and Morgan Stanley recommending a "buy" and "overweight" rating, respectively.

Pacific Capital Partners Ltd lessened its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 44.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 97,500 shares of the biopharmaceutical company's stock after selling 77,500 shares during the quarter. Royalty Pharma makes up 3.3% of Pacific Capital Partners Ltd's holdings, making the stock its 12th largest holding. Pacific Capital Partners Ltd's holdings in Royalty Pharma were worth $3,513,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of RPRX. Louisbourg Investments Inc. bought a new position in Royalty Pharma in the 1st quarter valued at $28,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 414 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Royalty Pharma in the 1st quarter worth $36,000. WPG Advisers LLC purchased a new stake in shares of Royalty Pharma in the 1st quarter worth $39,000. Finally, Allworth Financial LP lifted its holdings in shares of Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 452 shares during the period. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Price Performance

RPRX traded up $0.27 during trading on Tuesday, hitting $35.42. The company's stock had a trading volume of 4,000,315 shares, compared to its average volume of 3,895,591. 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 PLC has a twelve month low of $24.05 and a twelve month high of $38.00. The business's fifty day simple moving average is $36.35 and its 200 day simple moving average is $34.32. The firm has a market capitalization of $20.66 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 2.20 and a beta of 0.58.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, beating 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 business had revenue of $578.67 million for the quarter, compared to the consensus estimate of $750.06 million. On average, equities research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RPRX. Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Saturday. Morgan Stanley upped their price objective on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Finally, Citigroup upped 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 analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat.com, the company currently has an average 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.