Creative Planning Trims Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Creative Planning trimmed its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 46.1% in the 2nd quarter, Holdings Channel reports. The firm owned 19,990 shares of the biopharmaceutical company’s stock after selling 17,131 shares during the quarter. Creative Planning’s holdings in Royalty Pharma were worth $527,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Ballentine Partners LLC grew its stake in Royalty Pharma by 3.3% in the first quarter. Ballentine Partners LLC now owns 12,541 shares of the biopharmaceutical company’s stock worth $381,000 after purchasing an additional 406 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Royalty Pharma by 1.9% in the 2nd quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock worth $836,000 after buying an additional 606 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Royalty Pharma by 32.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 655 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Royalty Pharma by 10.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,097 shares of the biopharmaceutical company’s stock valued at $276,000 after buying an additional 887 shares during the period. Finally, Meeder Advisory Services Inc. raised its holdings in shares of Royalty Pharma by 12.7% in the second quarter. Meeder Advisory Services Inc. now owns 8,223 shares of the biopharmaceutical company’s stock valued at $217,000 after acquiring an additional 926 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RPRX has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group upped their target price on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Royalty Pharma Stock Down 0.5 %

Royalty Pharma stock opened at $27.87 on Tuesday. The company has a market capitalization of $16.54 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 4.05 and a beta of 0.46. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.35 and a current ratio of 9.35. Royalty Pharma plc has a fifty-two week low of $25.20 and a fifty-two week high of $31.66. The firm has a 50 day moving average price of $27.87 and a 200 day moving average price of $27.71.

Royalty Pharma (NASDAQ:RPRX) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Royalty Pharma had a net margin of 30.08% and a return on equity of 23.61%. The firm had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $600.83 million. During the same quarter in the previous year, the business posted $0.85 earnings per share. Research analysts expect that Royalty Pharma plc will post 4.04 earnings per share for the current year.

Royalty Pharma Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $0.21 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.84 annualized dividend and a yield of 3.01%. Royalty Pharma’s dividend payout ratio is currently 74.34%.

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.