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

Teacher Retirement System of Texas cut its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 10.4% during the 1st quarter, according to 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 quarter.

Several other large investors have also recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. raised its stake in shares of Royalty Pharma by 42.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 16,968,321 shares of the biopharmaceutical company's stock worth $432,862,000 after acquiring an additional 5,069,127 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Royalty Pharma by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 7,312,551 shares of the biopharmaceutical company's stock worth $186,846,000 after buying an additional 46,765 shares during the period. Norges Bank purchased a new position in shares of Royalty Pharma in the fourth quarter worth $124,498,000. Two Sigma Advisers LP increased its stake in shares of Royalty Pharma by 21.1% in the fourth quarter. Two Sigma Advisers LP now owns 3,673,200 shares of the biopharmaceutical company's stock worth $93,703,000 after buying an additional 640,000 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Royalty Pharma by 12.8% during the 4th quarter. Northern Trust Corp now owns 3,330,429 shares of the biopharmaceutical company's stock valued at $84,959,000 after buying an additional 376,619 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

Royalty Pharma stock traded down $0.28 during midday trading on Friday, hitting $35.84. The stock had a trading volume of 1,690,392 shares, compared to its average volume of 4,673,412. The firm's fifty day moving average is $34.13 and its two-hundred day moving average is $32.23. The company has a market capitalization of $20.15 billion, a PE ratio of 19.37, a P/E/G ratio of 1.84 and a beta of 0.50. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $36.56. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.68.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. The business had revenue of $839.00 million during the quarter, compared to analyst estimates of $724.69 million. On average, research analysts forecast that Royalty Pharma PLC will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The business also recently disclosed 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 2.46%. The ex-dividend date of this dividend was Friday, May 16th. Royalty Pharma's dividend payout ratio (DPR) is currently 47.57%.

Analysts Set New Price Targets

RPRX has been the topic of a number of analyst reports. Morgan Stanley set a $54.00 price target on shares of Royalty Pharma and gave the stock an "overweight" rating in a research note on Thursday. Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. Finally, Wall Street Zen lowered Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $48.33.

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.