Royalty Pharma plc (NASDAQ:RPRX) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 26.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 849,035 shares of the biopharmaceutical company's stock after purchasing an additional 179,411 shares during the quarter. Victory Capital Management Inc. owned 0.14% of Royalty Pharma worth $24,019,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. New South Capital Management Inc. boosted its position in shares of Royalty Pharma by 5.0% during the 3rd quarter. New South Capital Management Inc. now owns 2,466,371 shares of the biopharmaceutical company's stock worth $69,774,000 after purchasing an additional 117,394 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Royalty Pharma by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,009,541 shares of the biopharmaceutical company's stock worth $28,560,000 after buying an additional 15,963 shares during the period. Summit Global Investments purchased a new position in shares of Royalty Pharma during the third quarter worth $735,000. River Road Asset Management LLC grew its stake in shares of Royalty Pharma by 9.8% in the third quarter. River Road Asset Management LLC now owns 469,980 shares of the biopharmaceutical company's stock valued at $13,296,000 after buying an additional 41,918 shares in the last quarter. Finally, AlphaCentric Advisors LLC lifted its stake in Royalty Pharma by 12.5% during the 3rd quarter. AlphaCentric Advisors LLC now owns 67,500 shares of the biopharmaceutical company's stock worth $1,910,000 after acquiring an additional 7,500 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RPRX has been the topic of a number of research reports. StockNews.com upgraded shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Tuesday, November 5th. Citigroup decreased 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. Finally, The Goldman Sachs Group upped their price target on Royalty Pharma from $50.00 to $51.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $41.67.

Royalty Pharma Stock Performance

NASDAQ:RPRX traded up $0.21 during midday trading on Tuesday, reaching $26.01. The stock had a trading volume of 5,734,943 shares, compared to its average volume of 2,622,776. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The stock has a market cap of $15.32 billion, a P/E ratio of 13.37, a P/E/G ratio of 3.76 and a beta of 0.47. The firm has a fifty day simple moving average of $27.42 and a two-hundred day simple moving average of $27.43. Royalty Pharma plc has a 12-month low of $25.10 and a 12-month high of $31.66.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Friday, November 15th. Royalty Pharma's payout ratio 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.