Royalty Pharma PLC (NASDAQ:RPRX) is Torray Investment Partners LLC's Largest Position

Key Points

• Torray Investment Partners LLC has significantly increased its stake in Royalty Pharma PLC by 26%, making it the largest holding in their portfolio.
• Royalty Pharma has received mixed analyst ratings, with one brokerage downgrading it to a hold while others maintain a buy rating and increase price targets.
• The company recently announced a quarterly dividend of $0.22 per share, contributing to an annualized dividend yield of 2.37%.

Torray Investment Partners LLC lifted its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 862,018 shares of the biopharmaceutical company's stock after purchasing an additional 178,011 shares during the quarter. Royalty Pharma accounts for approximately 4.0% of Torray Investment Partners LLC's holdings, making the stock its largest position. Torray Investment Partners LLC owned approximately 0.15% of Royalty Pharma worth $26,835,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of RPRX. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Royalty Pharma by 42.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock valued at $432,862,000 after buying an additional 5,069,127 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Royalty Pharma by 270.4% in the first quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company's stock valued at $112,788,000 after buying an additional 2,644,923 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Royalty Pharma in the fourth quarter valued at $41,959,000. AQR Capital Management LLC lifted its holdings in shares of Royalty Pharma by 187.0% in the fourth quarter. AQR Capital Management LLC now owns 1,903,676 shares of the biopharmaceutical company's stock valued at $48,563,000 after buying an additional 1,240,384 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Royalty Pharma by 2,543.7% in the first quarter. Los Angeles Capital Management LLC now owns 1,081,128 shares of the biopharmaceutical company's stock valued at $33,656,000 after buying an additional 1,040,234 shares during the period. Institutional investors own 54.35% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on RPRX shares. Wall Street Zen lowered Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Morgan Stanley upped their price objective on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Citigroup upped their target price on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $49.00.

Royalty Pharma Trading Up 0.8%

Shares of NASDAQ RPRX traded up $0.31 during mid-day trading on Friday, hitting $37.11. 1,878,469 shares of the company traded hands, compared to its average volume of 2,650,952. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $37.56. The stock has a market capitalization of $20.86 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.45 and a beta of 0.55. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average of $35.21 and a two-hundred day moving average of $33.33.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating 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 business had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. On average, sell-side analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 15th. Royalty Pharma's dividend payout ratio is currently 47.57%.

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.