Vanguard Group Inc. Has $1.14 Billion Stock Holdings in Royalty Pharma PLC (NASDAQ:RPRX)

Vanguard Group Inc. decreased its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,677,448 shares of the biopharmaceutical company's stock after selling 676,561 shares during the quarter. Vanguard Group Inc. owned approximately 6.36% of Royalty Pharma worth $1,141,769,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of RPRX. Applied Finance Capital Management LLC raised its stake in Royalty Pharma by 3.0% during the first quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock valued at $351,000 after buying an additional 329 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in Royalty Pharma by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock valued at $1,238,000 after buying an additional 349 shares in the last quarter. National Bank of Canada FI raised its stake in Royalty Pharma by 21.8% during the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock valued at $53,000 after buying an additional 371 shares in the last quarter. Sherbrooke Park Advisers LLC raised its stake in Royalty Pharma by 1.1% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock valued at $890,000 after buying an additional 380 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Royalty Pharma by 76.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 414 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Stock Up 1.7%

Royalty Pharma stock traded up $0.60 during mid-day trading on Wednesday, hitting $36.46. 5,232,913 shares of the company's stock were exchanged, compared to its average volume of 4,401,707. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The stock has a market cap of $20.50 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.36 and a beta of 0.55. Royalty Pharma PLC has a 1-year low of $24.05 and a 1-year high of $38.00. The stock has a 50 day moving average of $35.80 and a two-hundred day moving average of $33.66.

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

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.22 per share. The ex-dividend date is 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 (DPR) is currently 50.87%.

Analyst Ratings Changes

RPRX has been the subject of several recent research reports. Morgan Stanley upped their target price on 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 raised Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Citigroup increased their price objective on Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Royalty Pharma presently has an average rating of "Buy" and an average price target of $49.00.

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.