Victory Capital Management Inc. Boosts Holdings in Royalty Pharma PLC (NASDAQ:RPRX)

Victory Capital Management Inc. lifted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 270.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,623,134 shares of the biopharmaceutical company's stock after acquiring an additional 2,644,923 shares during the period. Victory Capital Management Inc. owned 0.63% of Royalty Pharma worth $112,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Merit Financial Group LLC purchased a new position in shares of Royalty Pharma during the 1st quarter worth $252,000. M&T Bank Corp raised its holdings in shares of Royalty Pharma by 23.4% during the 1st quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company's stock worth $902,000 after acquiring an additional 5,500 shares during the period. Yousif Capital Management LLC purchased a new position in shares of Royalty Pharma during the 1st quarter worth $275,000. Asset Management One Co. Ltd. raised its holdings in shares of Royalty Pharma by 8.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company's stock worth $5,134,000 after acquiring an additional 12,148 shares during the period. Finally, Amalgamated Bank raised its holdings in shares of Royalty Pharma by 4.4% during the 1st quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company's stock worth $636,000 after acquiring an additional 866 shares during the period. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Trading Up 0.3%

Shares of NASDAQ:RPRX traded up $0.12 during midday trading on Friday, reaching $35.59. 2,020,692 shares of the company's stock were exchanged, compared to its average volume of 4,595,639. The firm's 50 day simple moving average is $34.44 and its two-hundred day simple moving average is $32.60. 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 stock has a market cap of $20.01 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 2.37 and a beta of 0.50. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $36.89.

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

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.47%. Royalty Pharma's dividend payout ratio is currently 47.57%.

Wall Street Analyst Weigh In

Several research firms have recently commented on RPRX. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Wall Street Zen downgraded Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Finally, Morgan Stanley set a $54.00 price objective on Royalty Pharma and gave the stock an "overweight" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price 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.