Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by abrdn plc

abrdn plc cut its stake in Royalty Pharma plc (NASDAQ:RPRX) by 91.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,352 shares of the biopharmaceutical company’s stock after selling 1,083,657 shares during the period. abrdn plc’s holdings in Royalty Pharma were worth $2,932,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Swedbank AB acquired a new position in shares of Royalty Pharma in the 1st quarter valued at $251,461,000. New South Capital Management Inc. acquired a new position in shares of Royalty Pharma during the 1st quarter valued at about $44,384,000. Homestead Advisers Corp grew its holdings in Royalty Pharma by 40.7% in the 1st quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock valued at $57,502,000 after buying an additional 547,000 shares during the last quarter. Dark Forest Capital Management LP grew its holdings in Royalty Pharma by 2,974.4% in the 2nd quarter. Dark Forest Capital Management LP now owns 338,675 shares of the biopharmaceutical company’s stock valued at $8,931,000 after buying an additional 327,659 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Royalty Pharma by 69.0% in the 2nd quarter. AQR Capital Management LLC now owns 785,567 shares of the biopharmaceutical company’s stock valued at $20,715,000 after buying an additional 320,606 shares during the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

Shares of Royalty Pharma stock opened at $27.10 on Monday. Royalty Pharma plc has a one year low of $25.20 and a one year high of $31.66. The firm has a market cap of $16.08 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 3.97 and a beta of 0.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 9.35 and a quick ratio of 9.35. The stock’s 50-day moving average is $27.97 and its 200-day moving average is $27.57.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. The firm had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $600.83 million. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. During the same period in the prior year, the firm posted $0.85 earnings per share. Equities analysts predict that Royalty Pharma plc will post 4.05 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.10%. Royalty Pharma’s dividend payout ratio (DPR) is presently 74.34%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup lowered their target price on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, October 25th. StockNews.com downgraded Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. The Goldman Sachs Group lifted their price objective on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Morgan Stanley lifted their price objective on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.67.

Royalty Pharma 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.