Summit Global Investments Has $250,000 Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Summit Global Investments decreased its position in Royalty Pharma plc (NASDAQ:RPRX) by 20.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,915 shares of the biopharmaceutical company’s stock after selling 2,264 shares during the quarter. Summit Global Investments’ holdings in Royalty Pharma were worth $250,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Allworth Financial LP raised its position 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 buying an additional 451 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Royalty Pharma by 112.0% in the third quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 531 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Royalty Pharma by 485.2% in the fourth quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 1,999 shares in the last quarter. Rakuten Securities Inc. acquired a new position in Royalty Pharma during the fourth quarter worth $110,000. Finally, PNC Financial Services Group Inc. grew its position in Royalty Pharma by 10.8% in the third quarter. PNC Financial Services Group Inc. now owns 5,509 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 536 shares in the last quarter. 54.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RPRX. The Goldman Sachs Group reduced their price objective 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. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Bank of America decreased 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 note on Friday, April 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and an average target price of $46.75.

Royalty Pharma Price Performance

NASDAQ:RPRX opened at $28.49 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 7.90 and a current ratio of 7.90. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of 15.07 and a beta of 0.47. Royalty Pharma plc has a 52 week low of $25.92 and a 52 week high of $35.70. The firm’s 50-day simple moving average is $29.31 and its 200 day simple moving average is $28.59.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. The company had revenue of $736.00 million during the quarter, compared to the consensus estimate of $702.90 million. As a group, sell-side analysts predict that Royalty Pharma plc will post 3.95 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a yield of 2.95%. Royalty Pharma’s 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.