Victory Capital Management Inc. Boosts Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Victory Capital Management Inc. lifted its position in Royalty Pharma plc (NASDAQ:RPRX) by 26.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 849,035 shares of the biopharmaceutical company’s stock after purchasing an additional 179,411 shares during the quarter. Victory Capital Management Inc. owned 0.14% of Royalty Pharma worth $24,019,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RPRX. Xponance Inc. lifted its stake 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 valued at $836,000 after acquiring an additional 606 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Royalty Pharma by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 655 shares during the last quarter. Values First Advisors Inc. lifted its stake in shares of Royalty Pharma by 7.6% in the 3rd quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company’s stock valued at $295,000 after acquiring an additional 738 shares during the last quarter. Phillips Wealth Planners LLC lifted its stake in shares of Royalty Pharma by 10.2% in the 3rd quarter. Phillips Wealth Planners LLC now owns 8,733 shares of the biopharmaceutical company’s stock valued at $246,000 after acquiring an additional 808 shares during the last quarter. Finally, Meeder Advisory Services Inc. lifted its stake in shares of Royalty Pharma by 12.7% in the 2nd 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 during the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Trading Up 0.4 %

RPRX opened at $25.80 on Tuesday. The business has a 50 day simple moving average of $27.42 and a two-hundred day simple moving average of $27.43. The firm has a market capitalization of $15.31 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 3.76 and a beta of 0.47. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 1.54. Royalty Pharma plc has a one year low of $25.10 and a one year high of $31.66.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.26%. Royalty Pharma’s dividend payout ratio (DPR) is 43.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Citigroup lowered their target price on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, October 25th. StockNews.com raised Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, The Goldman Sachs Group upped their price target on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $41.67.

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.