PDT Partners LLC Sells 20,502 Shares of Royalty Pharma plc (NASDAQ:RPRX)

PDT Partners LLC reduced its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 39.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,934 shares of the biopharmaceutical company's stock after selling 20,502 shares during the quarter. PDT Partners LLC's holdings in Royalty Pharma were worth $875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atria Investments Inc bought a new stake in Royalty Pharma during the 1st quarter worth approximately $1,185,000. Versant Capital Management Inc grew its stake in shares of Royalty Pharma by 5,215.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 1,043 shares in the last quarter. BDF Gestion bought a new position in shares of Royalty Pharma during the second quarter valued at about $1,007,000. Manning & Napier Advisors LLC purchased a new position in Royalty Pharma during the second quarter worth about $5,165,000. Finally, M&G Plc bought a new stake in Royalty Pharma in the 2nd quarter worth about $447,000. 54.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RPRX. Citigroup reduced their target price on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a report on Friday, October 25th. The Goldman Sachs Group raised their target price on Royalty Pharma from $50.00 to $51.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Finally, StockNews.com raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $41.67.

Royalty Pharma Trading Down 0.3 %

NASDAQ RPRX traded down $0.09 during trading on Tuesday, hitting $26.34. 3,191,189 shares of the company's stock traded hands, compared to its average volume of 2,640,419. The stock has a fifty day moving average of $27.09 and a two-hundred day moving average of $27.30. Royalty Pharma plc has a 12-month low of $25.10 and a 12-month high of $31.66. The firm has a market cap of $15.52 billion, a P/E ratio of 13.65, a PEG ratio of 4.64 and a beta of 0.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, November 15th. Royalty Pharma's dividend payout ratio (DPR) is 43.52%.

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.