Teacher Retirement System of Texas Sells 12,028 Shares of Royalty Pharma PLC (NASDAQ:RPRX)

Teacher Retirement System of Texas decreased its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,364 shares of the biopharmaceutical company's stock after selling 12,028 shares during the quarter. Teacher Retirement System of Texas' holdings in Royalty Pharma were worth $3,218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Keybank National Association OH raised its stake in shares of Royalty Pharma by 16.6% during the first quarter. Keybank National Association OH now owns 32,818 shares of the biopharmaceutical company's stock valued at $1,022,000 after acquiring an additional 4,666 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Royalty Pharma by 48.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 41,798 shares of the biopharmaceutical company's stock valued at $1,301,000 after purchasing an additional 13,615 shares during the period. Amalgamated Bank raised its position in Royalty Pharma by 4.4% during the 1st quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company's stock worth $636,000 after purchasing an additional 866 shares during the last quarter. Augustine Asset Management Inc. acquired a new position in Royalty Pharma during the 1st quarter worth about $200,000. Finally, KBC Group NV grew its position in shares of Royalty Pharma by 43.0% in the 1st quarter. KBC Group NV now owns 59,405 shares of the biopharmaceutical company's stock valued at $1,849,000 after buying an additional 17,851 shares during the last quarter. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Trading Down 0.8%

RPRX traded down $0.28 during trading on Friday, hitting $35.84. The company's stock had a trading volume of 1,690,401 shares, compared to its average volume of 3,709,662. The firm has a market capitalization of $20.15 billion, a P/E ratio of 19.37, a PEG ratio of 1.84 and a beta of 0.50. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $36.56. 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 stock's fifty day moving average price is $34.19 and its 200-day moving average price is $32.31.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.07. The business had revenue of $839.00 million for the quarter, compared to analyst estimates of $724.69 million. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. Analysts anticipate that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.46%. The ex-dividend date was Friday, May 16th. Royalty Pharma's payout ratio is currently 47.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RPRX shares. Wall Street Zen downgraded Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Morgan Stanley set a $54.00 price target on shares of Royalty Pharma and gave the stock an "overweight" rating in a report on Thursday. Finally, Citigroup restated a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. 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 company presently has an average rating of "Buy" and a consensus price target of $48.33.

About Royalty Pharma

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.