Teacher Retirement System of Texas trimmed its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 10.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. 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 institutional investors also recently bought and sold shares of the company. Keybank National Association OH boosted its position in Royalty Pharma by 16.6% during the first quarter. Keybank National Association OH now owns 32,818 shares of the biopharmaceutical company's stock worth $1,022,000 after purchasing an additional 4,666 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of 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 acquiring an additional 13,615 shares in the last quarter. Amalgamated Bank lifted its position in shares of Royalty Pharma by 4.4% in the first quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company's stock valued at $636,000 after acquiring an additional 866 shares in the last quarter. Augustine Asset Management Inc. purchased a new stake in shares of Royalty Pharma in the first quarter valued at $200,000. Finally, KBC Group NV lifted its position in Royalty Pharma by 43.0% during the first quarter. KBC Group NV now owns 59,405 shares of the biopharmaceutical company's stock worth $1,849,000 after buying an additional 17,851 shares during the period. 54.35% of the stock is currently owned by hedge funds and other institutional investors.
Royalty Pharma Stock Up 1.0%
RPRX traded up $0.36 on Wednesday, reaching $35.87. The company's stock had a trading volume of 3,208,288 shares, compared to its average volume of 3,699,813. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 1.83 and a beta of 0.50. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $36.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.56 and a quick ratio of 1.56. The business's 50 day moving average is $33.99 and its 200 day moving average is $32.13.
Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. As a group, research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.
Royalty Pharma Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Friday, May 16th. Royalty Pharma's dividend payout ratio is presently 47.57%.
Analyst Ratings Changes
RPRX has been the topic of several recent analyst reports. Wall Street Zen downgraded Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Morgan Stanley initiated coverage on Royalty Pharma in a research report on Friday, May 16th. They set an "overweight" rating and a $51.00 target price on the stock. Finally, Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $47.33.
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About Royalty Pharma
(
Free Report)
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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