Royalty Pharma PLC $RPRX Stock Position Lifted by Ballentine Partners LLC

Ballentine Partners LLC grew its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 38.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 10,729 shares of the biopharmaceutical company’s stock after buying an additional 2,955 shares during the quarter. Ballentine Partners LLC’s holdings in Royalty Pharma were worth $387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in Royalty Pharma by 270.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company’s stock worth $112,788,000 after buying an additional 2,644,923 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Royalty Pharma by 8.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,847,934 shares of the biopharmaceutical company’s stock worth $88,656,000 after purchasing an additional 226,048 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Royalty Pharma by 37.0% in the 1st quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company’s stock worth $80,381,000 after purchasing an additional 704,414 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Royalty Pharma by 34.1% in the 1st quarter. Invesco Ltd. now owns 1,284,418 shares of the biopharmaceutical company’s stock worth $39,984,000 after purchasing an additional 326,525 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Royalty Pharma by 7.5% in the 1st quarter. Alliancebernstein L.P. now owns 1,241,051 shares of the biopharmaceutical company’s stock worth $38,634,000 after purchasing an additional 86,873 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Up 0.4%

Shares of RPRX stock opened at $35.04 on Friday. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $38.00. The stock has a market cap of $20.43 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 2.19 and a beta of 0.58. The business’s fifty day moving average is $36.31 and its 200-day moving average is $34.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26.

Royalty Pharma (NASDAQ:RPRX) last issued its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $578.67 million for the quarter, compared to analysts’ expectations of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. Equities analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, August 15th. Royalty Pharma’s payout ratio is presently 50.87%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RPRX shares. Morgan Stanley raised their price target on Royalty Pharma from $51.00 to $54.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Wall Street Zen downgraded Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Citigroup lifted their target price on Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $48.00.

About Royalty Pharma

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.