New York State Common Retirement Fund Decreases Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

New York State Common Retirement Fund cut its holdings in Royalty Pharma plc (NASDAQ:RPRXFree Report) by 11.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 427,979 shares of the biopharmaceutical company’s stock after selling 58,028 shares during the quarter. New York State Common Retirement Fund’s holdings in Royalty Pharma were worth $11,615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Royalty Pharma by 7.5% in the first quarter. Vanguard Group Inc. now owns 31,860,621 shares of the biopharmaceutical company’s stock valued at $1,241,289,000 after buying an additional 2,224,056 shares during the last quarter. BlackRock Inc. raised its stake in Royalty Pharma by 4.5% in the second quarter. BlackRock Inc. now owns 20,741,519 shares of the biopharmaceutical company’s stock valued at $637,594,000 after buying an additional 892,677 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Royalty Pharma by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 8,736,171 shares of the biopharmaceutical company’s stock valued at $268,550,000 after buying an additional 64,608 shares during the last quarter. State Street Corp raised its stake in Royalty Pharma by 2.7% in the first quarter. State Street Corp now owns 8,340,805 shares of the biopharmaceutical company’s stock valued at $300,519,000 after buying an additional 220,923 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Royalty Pharma by 2.6% in the second quarter. Geode Capital Management LLC now owns 6,145,864 shares of the biopharmaceutical company’s stock worth $188,639,000 after purchasing an additional 153,738 shares during the last quarter. 49.03% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Stock Down 2.8 %

Shares of RPRX opened at $29.33 on Thursday. The company has a current ratio of 13.51, a quick ratio of 13.51 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a 12 month low of $25.92 and a 12 month high of $38.79. The stock’s 50 day moving average is $28.31 and its two-hundred day moving average is $28.37. The firm has a market cap of $17.52 billion, a P/E ratio of 94.62, a PEG ratio of 2.54 and a beta of 0.42.

Royalty Pharma (NASDAQ:RPRXGet Free Report) last issued its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.02). Royalty Pharma had a net margin of 7.96% and a return on equity of 29.99%. The business had revenue of $637.00 million during the quarter, compared to analyst estimates of $640.96 million. Analysts predict that Royalty Pharma plc will post 4.24 earnings per share for the current fiscal year.

Royalty Pharma Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, February 16th will be issued a $0.21 dividend. This is a positive change from Royalty Pharma’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 2.86%. The ex-dividend date is Thursday, February 15th. Royalty Pharma’s dividend payout ratio (DPR) is presently 258.07%.

Insider Buying and Selling at Royalty Pharma

In related news, Director Rory B. Riggs sold 35,702 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $27.55, for a total transaction of $983,590.10. Following the completion of the sale, the director now directly owns 20,099 shares in the company, valued at $553,727.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Rory B. Riggs sold 35,702 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $27.55, for a total transaction of $983,590.10. Following the completion of the sale, the director now directly owns 20,099 shares in the company, valued at $553,727.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Avara Management Ltd sold 41,729 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $28.01, for a total value of $1,168,829.29. Following the sale, the insider now owns 2,753,186 shares of the company’s stock, valued at $77,116,739.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 312,631 shares of company stock valued at $8,860,323. Company insiders own 18.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. TheStreet cut Royalty Pharma from a “c” rating to a “d+” rating in a research note on Friday, November 10th. Morgan Stanley raised their price objective on Royalty Pharma from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, November 9th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.00.

Read Our Latest Stock Report on Royalty Pharma

Royalty Pharma Company Profile

(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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Institutional Ownership by Quarter for Royalty Pharma (NASDAQ:RPRX)

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