Cutter Capital Management LP Sells 407,965 Shares of Royalty Pharma PLC $RPRX

Key Points

• Cutter Capital Management LP has reduced its holdings in Royalty Pharma PLC by 53.3%, now owning 356,894 shares worth $11.11 million, making it the company's 11th biggest holding.
• Several institutional investors have increased their stakes in Royalty Pharma, with Royal Bank of Canada boosting its position by 367.7% during the first quarter.
• Analysts have a generally positive outlook on Royalty Pharma, with an average rating of "Buy" and a price target increase from various firms, now estimating an average target of $48.00.

Cutter Capital Management LP lowered its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 53.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 356,894 shares of the biopharmaceutical company's stock after selling 407,965 shares during the quarter. Royalty Pharma accounts for 4.8% of Cutter Capital Management LP's investment portfolio, making the stock its 11th biggest position. Cutter Capital Management LP owned 0.06% of Royalty Pharma worth $11,110,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Louisbourg Investments Inc. purchased a new stake in shares of Royalty Pharma during the 1st quarter valued at $28,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Royalty Pharma by 76.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock valued at $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 during the 1st quarter valued at $36,000. WPG Advisers LLC purchased a new stake in shares of Royalty Pharma during the 1st quarter valued at $39,000. Finally, Allworth Financial LP raised its position in shares of Royalty Pharma by 41.6% during the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 452 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Trading Down 2.2%

Royalty Pharma stock traded down $0.83 during trading hours on Friday, reaching $36.07. The stock had a trading volume of 9,231,241 shares, compared to its average volume of 3,155,449. The stock has a market cap of $21.04 billion, a PE ratio of 20.85, a PEG ratio of 2.35 and a beta of 0.58. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $38.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26. The company has a fifty day simple moving average of $36.34 and a 200-day simple moving average of $34.19.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. The business had revenue of $578.67 million for the quarter, compared to analyst estimates of $750.06 million. Analysts forecast that Royalty Pharma PLC will post 4.49 EPS 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 dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.88 annualized dividend and a yield of 2.4%. Royalty Pharma's payout ratio is presently 50.87%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Finally, Citigroup lifted their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, Royalty Pharma presently has an average rating of "Buy" and a consensus target price of $48.00.

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.