Torray Investment Partners LLC Has $17.45 Million Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Torray Investment Partners LLC lowered its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 20.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 684,007 shares of the biopharmaceutical company's stock after selling 173,912 shares during the quarter. Royalty Pharma makes up approximately 2.5% of Torray Investment Partners LLC's holdings, making the stock its 9th biggest position. Torray Investment Partners LLC owned about 0.12% of Royalty Pharma worth $17,449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RPRX. Franklin Resources Inc. raised its position in Royalty Pharma by 5.0% in the third quarter. Franklin Resources Inc. now owns 1,460,515 shares of the biopharmaceutical company's stock worth $40,705,000 after acquiring an additional 70,130 shares during the period. Van ECK Associates Corp increased its position in Royalty Pharma by 171.1% in the third quarter. Van ECK Associates Corp now owns 101,500 shares of the biopharmaceutical company's stock worth $2,777,000 after buying an additional 64,057 shares in the last quarter. Summit Global Investments bought a new position in shares of Royalty Pharma in the third quarter worth about $735,000. Pallas Capital Advisors LLC purchased a new position in shares of Royalty Pharma during the 4th quarter valued at about $2,355,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Royalty Pharma by 303.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company's stock valued at $13,926,000 after buying an additional 406,123 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

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Wall Street Analysts Forecast Growth

Separately, TD Cowen raised shares of Royalty Pharma to a "strong-buy" rating in a report on Tuesday, December 24th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $41.60.

Royalty Pharma Price Performance

NASDAQ:RPRX traded down $0.27 on Friday, reaching $33.01. 5,407,966 shares of the company's stock traded hands, compared to its average volume of 4,474,442. The stock has a 50-day simple moving average of $30.72 and a 200-day simple moving average of $28.35. Royalty Pharma plc has a 12 month low of $24.05 and a 12 month high of $34.20. The firm has a market cap of $19.03 billion, a PE ratio of 22.77, a P/E/G ratio of 2.31 and a beta of 0.47. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. Equities research analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current year.

Royalty Pharma Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 21st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from Royalty Pharma's previous quarterly dividend of $0.21. Royalty Pharma's payout ratio is 60.69%.

Royalty Pharma 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.