Evergreen Capital Management LLC Decreases Stock Holdings in Royalty Pharma PLC $RPRX

Key Points

• Evergreen Capital Management LLC has significantly reduced its stake in Royalty Pharma PLC by 86.5%, selling 93,112 shares and leaving it with 14,545 shares valued at $453,000.
• Multiple hedge funds have increased their investments in Royalty Pharma during the first quarter, including Ieq Capital LLC, which grew its holdings by 64.5%.
• Analysts have upgraded Royalty Pharma’s rating, with Citigroup and Morgan Stanley increasing their price targets, contributing to a consensus rating of "Buy" with an average target price of $48.00.

Evergreen Capital Management LLC reduced its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 86.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,545 shares of the biopharmaceutical company's stock after selling 93,112 shares during the quarter. Evergreen Capital Management LLC's holdings in Royalty Pharma were worth $453,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also 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 raised its position in shares of Royalty Pharma by 76.4% in the first 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 in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Royalty Pharma in the first quarter worth $36,000. WPG Advisers LLC bought a new stake in Royalty Pharma during the first quarter valued at $39,000. Finally, Allworth Financial LP grew its position in Royalty Pharma by 41.6% during the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after buying an additional 452 shares in the last quarter. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Price Performance

RPRX traded down $0.83 during midday trading on Friday, hitting $36.07. The stock had a trading volume of 9,231,241 shares, compared to its average volume of 3,476,283. The company has a market cap of $21.03 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 2.25 and a beta of 0.58. The business has a fifty day moving average of $36.34 and a 200 day moving average of $34.20. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The firm had revenue of $578.67 million for the quarter, compared to the consensus estimate of $750.06 million. As a group, equities analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $0.22 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. Royalty Pharma's payout ratio is currently 50.87%.

Analyst Ratings Changes

Several analysts have weighed in on RPRX shares. Morgan Stanley raised their price target on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Citigroup raised their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. Based on data from MarketBeat, Royalty Pharma currently has a consensus rating of "Buy" and an average price target 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.