Tidal Investments LLC Cuts Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Tidal Investments LLC decreased its position in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 19.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,375 shares of the biopharmaceutical company's stock after selling 9,371 shares during the quarter. Tidal Investments LLC's holdings in Royalty Pharma were worth $979,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP increased its position in shares of Royalty Pharma by 417.6% in the fourth quarter. Allworth Financial LP now owns 1,087 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 877 shares during the period. Riverview Trust Co increased its position in shares of Royalty Pharma by 3,953.3% during the fourth quarter. Riverview Trust Co now owns 1,216 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 1,186 shares during the period. Fifth Third Bancorp increased its position in shares of Royalty Pharma by 187.1% during the fourth quarter. Fifth Third Bancorp now owns 1,530 shares of the biopharmaceutical company's stock valued at $39,000 after buying an additional 997 shares during the period. Blue Trust Inc. increased its position in shares of Royalty Pharma by 31.3% during the fourth quarter. Blue Trust Inc. now owns 1,579 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 376 shares during the period. Finally, Rakuten Securities Inc. grew its holdings in Royalty Pharma by 160.5% in the fourth quarter. Rakuten Securities Inc. now owns 1,628 shares of the biopharmaceutical company's stock worth $42,000 after purchasing an additional 1,003 shares during the period. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Down 0.2%

Shares of NASDAQ RPRX traded down $0.06 during midday trading on Wednesday, hitting $32.63. The stock had a trading volume of 2,935,310 shares, compared to its average volume of 3,471,652. The business's 50 day moving average is $32.36 and its 200-day moving average is $30.28. The company has a market cap of $18.81 billion, a P/E ratio of 22.50, a PEG ratio of 2.31 and a beta of 0.49. Royalty Pharma plc has a 52 week low of $24.05 and a 52 week high of $34.32. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

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 return on equity of 24.40% and a net margin of 37.94%. The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. As a group, analysts predict that Royalty Pharma plc will post 4.49 EPS for the current year.

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.70%. Royalty Pharma's dividend payout ratio is presently 47.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RPRX. Citigroup restated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Morgan Stanley began coverage on shares of Royalty Pharma in a report on Friday, May 16th. They issued an "overweight" rating and a $51.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Royalty Pharma currently has an average rating of "Moderate Buy" and an average target price of $42.50.

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.