abrdn plc Reduces Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

abrdn plc lessened its stake in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 91.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 104,352 shares of the biopharmaceutical company's stock after selling 1,083,657 shares during the period. abrdn plc's holdings in Royalty Pharma were worth $2,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RPRX. Versant Capital Management Inc increased its holdings in shares of Royalty Pharma by 5,215.0% during the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 1,043 shares in the last quarter. Gladius Capital Management LP acquired a new stake in Royalty Pharma in the 2nd quarter valued at $32,000. Blue Trust Inc. increased its stake in Royalty Pharma by 362.7% during the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 943 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Royalty Pharma during the first quarter worth $46,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company's stock worth $76,000 after buying an additional 655 shares during the last quarter. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Stock Performance

Shares of NASDAQ RPRX traded up $0.10 during midday trading on Monday, reaching $27.20. The company's stock had a trading volume of 1,601,738 shares, compared to its average volume of 2,566,760. The stock has a market capitalization of $16.14 billion, a P/E ratio of 23.98, a PEG ratio of 3.97 and a beta of 0.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. The firm has a 50 day moving average price of $27.97 and a 200-day moving average price of $27.57. Royalty Pharma plc has a 12-month low of $25.20 and a 12-month high of $31.66.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. The business had revenue of $537.00 million for the quarter, compared to analysts' expectations of $600.83 million. During the same quarter in the previous year, the firm earned $0.85 earnings per share. As a group, equities analysts predict that Royalty Pharma plc will post 4.05 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.09%. Royalty Pharma's dividend payout ratio (DPR) is presently 74.34%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RPRX shares. The Goldman Sachs Group lifted their price objective on shares of Royalty Pharma from $50.00 to $51.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. StockNews.com lowered Royalty Pharma from a "buy" rating to a "hold" rating in a report on Monday, October 28th. Morgan Stanley increased their price objective on Royalty Pharma from $48.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, July 11th. Finally, Citigroup cut their target price on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $41.67.

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.