Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in Royalty Pharma plc (NASDAQ:RPRX) by 40.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,000 shares of the biopharmaceutical company’s stock after selling 8,000 shares during the period. Federated Hermes Inc.’s holdings in Royalty Pharma were worth $337,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RPRX. Allworth Financial LP increased its holdings in Royalty Pharma by 89.8% in the 3rd quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 451 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Royalty Pharma by 112.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 531 shares in the last quarter. Rakuten Securities Inc. purchased a new position in Royalty Pharma in the 4th quarter worth approximately $110,000. PNC Financial Services Group Inc. boosted its holdings in Royalty Pharma by 10.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,509 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 536 shares during the period. Finally, Park Place Capital Corp grew its position in Royalty Pharma by 52.2% in the fourth quarter. Park Place Capital Corp now owns 5,656 shares of the biopharmaceutical company’s stock valued at $159,000 after acquiring an additional 1,939 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. JPMorgan Chase & Co. cut their target price on Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 20th. Bank of America dropped their target price on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Finally, StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $46.75.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $28.41 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 7.90 and a quick ratio of 7.90. Royalty Pharma plc has a 12-month low of $25.92 and a 12-month high of $35.70. The business has a 50 day simple moving average of $29.36 and a 200 day simple moving average of $28.58. The firm has a market capitalization of $16.97 billion, a price-to-earnings ratio of 15.03 and a beta of 0.47.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. The business had revenue of $736.00 million for the quarter, compared to analyst estimates of $702.90 million. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. On average, equities research analysts anticipate that Royalty Pharma plc will post 3.95 EPS for the current year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Thursday, May 16th. Royalty Pharma’s dividend payout ratio is 44.44%.

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.