USS Investment Management Ltd Sells 42,500 Shares of Royalty Pharma PLC $RPRX

Key Points

• USS Investment Management Ltd reduced its stake in Royalty Pharma PLC by 26.2%, now holding 119,649 shares valued at approximately $3.72 million as of the latest SEC filing.
• Royalty Pharma's stock received multiple upgrades from analysts, with target prices raised by Morgan Stanley to $54.00 and Citigroup to $42.00, indicating a generally positive outlook.
• The company announced a quarterly dividend of $0.22 per share, reflecting a 2.5% dividend yield and a payout ratio of 50.87%.

USS Investment Management Ltd lessened its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 26.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 119,649 shares of the biopharmaceutical company's stock after selling 42,500 shares during the quarter. USS Investment Management Ltd's holdings in Royalty Pharma were worth $3,723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Two Sigma Advisers LP grew its holdings in 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 purchasing an additional 640,000 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Royalty Pharma by 270.4% during the first quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company's stock valued at $112,788,000 after buying an additional 2,644,923 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Royalty Pharma by 36.2% during the fourth quarter. Deutsche Bank AG now owns 3,189,964 shares of the biopharmaceutical company's stock valued at $81,376,000 after buying an additional 847,704 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Royalty Pharma by 46.7% during the fourth quarter. Bank of America Corp DE now owns 2,985,585 shares of the biopharmaceutical company's stock valued at $76,162,000 after buying an additional 950,880 shares during the last quarter. Finally, Patient Capital Management LLC grew its holdings in shares of Royalty Pharma by 40.9% during the fourth quarter. Patient Capital Management LLC now owns 2,875,089 shares of the biopharmaceutical company's stock valued at $73,344,000 after buying an additional 833,894 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Stock Performance

Royalty Pharma stock traded down $0.34 during midday trading on Friday, reaching $36.36. 3,652,487 shares of the company traded hands, compared to its average volume of 3,780,307. The firm has a market capitalization of $21.20 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 2.27 and a beta of 0.58. The business has a 50 day moving average of $36.36 and a two-hundred day moving average of $34.30. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month 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.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.04. The company had revenue of $578.67 million for the quarter, compared to the consensus estimate of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. As a group, research analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $0.22 per share. The ex-dividend date was Friday, August 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. Royalty Pharma's dividend payout ratio is 50.87%.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen cut shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Citigroup increased their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Royalty Pharma currently has a consensus rating of "Buy" and an average price target 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.