Executive Wealth Management LLC decreased its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 23.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,700 shares of the biopharmaceutical company's stock after selling 22,839 shares during the period. Executive Wealth Management LLC's holdings in Royalty Pharma were worth $2,113,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Xponance Inc. grew its position in shares of Royalty Pharma by 1.9% during the second quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company's stock worth $836,000 after acquiring an additional 606 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Royalty Pharma by 32.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company's stock valued at $76,000 after buying an additional 655 shares during the last quarter. Values First Advisors Inc. boosted its stake in shares of Royalty Pharma by 7.6% during the third quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company's stock worth $295,000 after buying an additional 738 shares during the period. Phillips Wealth Planners LLC grew its stake in shares of Royalty Pharma by 10.2% in the 3rd quarter. Phillips Wealth Planners LLC now owns 8,733 shares of the biopharmaceutical company's stock valued at $246,000 after purchasing an additional 808 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its position in Royalty Pharma by 12.7% in the 2nd quarter. Meeder Advisory Services Inc. now owns 8,223 shares of the biopharmaceutical company's stock valued at $217,000 after buying an additional 926 shares during the last quarter. 54.35% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
RPRX has been the subject of several analyst reports. Citigroup cut their price target on shares of 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 increased their price objective on Royalty Pharma from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a research report on Tuesday. 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.
Read Our Latest Analysis on RPRX
Royalty Pharma Price Performance
Shares of RPRX traded down $0.31 during trading hours on Friday, reaching $26.21. 5,979,316 shares of the company traded hands, compared to its average volume of 2,588,489. The stock has a market capitalization of $15.55 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 3.92 and a beta of 0.47. The stock has a fifty day simple moving average of $27.78 and a 200 day simple moving average of $27.53. Royalty Pharma plc has a fifty-two week low of $25.20 and a fifty-two week high of $31.66. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 0.78.
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, beating analysts' consensus estimates of $0.95 by $0.01. Royalty Pharma had a net margin of 50.53% and a return on equity of 24.87%. The business had revenue of $537.00 million during the quarter, compared to analyst estimates of $600.83 million. During the same quarter in the previous year, the business posted $0.85 earnings per share. As a group, research analysts predict that Royalty Pharma plc will post 4.05 EPS for the current fiscal year.
Royalty Pharma Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma's dividend payout ratio (DPR) is 43.52%.
Royalty Pharma Profile
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Free Report)
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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