Royalty Pharma PLC $RPRX Shares Sold by Board of the Pension Protection Fund

Key Points

• The Board of the Pension Protection Fund significantly reduced its holdings in Royalty Pharma PLC by 58.3%, now owning 13,000 shares after selling 18,200 shares in the second quarter.
• Royalty Pharma announced a quarterly dividend of $0.22, yielding 2.4%, with a current dividend payout ratio of 50.87%.
• Analysts have mixed views on Royalty Pharma, with price targets ranging from $42.00 to $54.00 and a consensus rating of "Buy."

Board of the Pension Protection Fund decreased its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 58.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,000 shares of the biopharmaceutical company's stock after selling 18,200 shares during the quarter. Board of the Pension Protection Fund's holdings in Royalty Pharma were worth $468,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in RPRX. Louisbourg Investments Inc. acquired a new position in shares of Royalty Pharma in the 1st quarter valued at approximately $28,000. USA Financial Formulas acquired a new stake in Royalty Pharma in the second quarter valued at $32,000. Summit Securities Group LLC acquired a new stake in Royalty Pharma in the first quarter valued at $36,000. WPG Advisers LLC acquired a new stake in Royalty Pharma in the first quarter valued at $39,000. Finally, Allworth Financial LP raised its holdings in Royalty Pharma by 41.6% in the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after acquiring an additional 452 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Royalty Pharma Price Performance

RPRX opened at $36.01 on Friday. The firm has a market cap of $21.00 billion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 2.27 and a beta of 0.60. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $38.00. The company's 50-day moving average price is $36.18 and its 200 day moving average price is $34.65. The company has a quick ratio of 1.26, a current 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The business had revenue of $578.67 million for the quarter, compared to analysts' expectations of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. As a group, sell-side analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.88 annualized dividend and a yield of 2.4%. Royalty Pharma's dividend payout ratio (DPR) is currently 50.87%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of Royalty Pharma from $55.00 to $54.00 and set an "overweight" rating on the stock in a research note on Friday. The Goldman Sachs Group initiated coverage on Royalty Pharma in a research note on Tuesday, September 30th. They set a "buy" rating and a $42.00 price objective on the stock. Wall Street Zen cut Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. Citigroup upped their price objective on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Weiss Ratings raised Royalty Pharma from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $46.00.

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.

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