Walleye Capital LLC Has $354,000 Stock Position in Royalty Pharma PLC $RPRX

Key Points

• Walleye Capital LLC reduced its stake in Royalty Pharma PLC by 54.8%, now holding shares valued at $354,000 after selling 13,759 shares in the first quarter.
• Several hedge funds have increased their stakes in Royalty Pharma significantly, with AXA S.A. raising its investment by 761.9% and Bank of America Corp DE increasing theirs by 46.7%.
• Royalty Pharma recently announced a quarterly dividend of $0.22 per share, with a dividend yield of 2.4%, reflecting its financial stability and shareholder return strategy.

Walleye Capital LLC lowered its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 54.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,365 shares of the biopharmaceutical company's stock after selling 13,759 shares during the quarter. Walleye Capital LLC's holdings in Royalty Pharma were worth $354,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RPRX. Schonfeld Strategic Advisors LLC lifted its stake in shares of Royalty Pharma by 77.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 79,142 shares of the biopharmaceutical company's stock valued at $2,019,000 after buying an additional 34,537 shares during the period. AXA S.A. lifted its stake in shares of Royalty Pharma by 761.9% in the fourth quarter. AXA S.A. now owns 156,131 shares of the biopharmaceutical company's stock valued at $3,983,000 after buying an additional 138,017 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Royalty Pharma in the fourth quarter valued at about $41,959,000. Bank of America Corp DE lifted its stake in shares of Royalty Pharma by 46.7% in 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 period. Finally, Baird Financial Group Inc. bought a new stake in shares of Royalty Pharma in the fourth quarter valued at about $1,586,000. Institutional investors own 54.35% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Citigroup increased their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Morgan Stanley increased their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Saturday. One research 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.com, Royalty Pharma currently has an average rating of "Buy" and a consensus price target of $48.00.

Royalty Pharma Stock Up 0.5%

Shares of RPRX opened at $36.17 on Wednesday. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 2.35 and a beta of 0.58. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. Royalty Pharma PLC has a 12 month low of $24.05 and a 12 month high of $38.00. The company has a 50-day moving average price of $36.29 and a two-hundred day moving average price of $34.11.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.04. The firm had revenue of $578.67 million during the quarter, compared to analysts' expectations of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. Equities analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. Royalty Pharma's dividend payout ratio (DPR) is presently 50.87%.

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.

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