Royalty Pharma PLC $RPRX Position Lessened by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 70.7% in the second quarter, HoldingsChannel reports. The firm owned 316,751 shares of the biopharmaceutical company’s stock after selling 764,377 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Royalty Pharma were worth $11,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in Royalty Pharma by 270.4% in the first 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Royalty Pharma by 8.6% during the first 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 valued at $88,656,000 after acquiring an additional 226,048 shares during the period. AQR Capital Management LLC grew its position in shares of Royalty Pharma by 37.0% during the first quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company’s stock worth $80,381,000 after acquiring an additional 704,414 shares during the last quarter. Homestead Advisers Corp increased its holdings in shares of Royalty Pharma by 0.4% in the 2nd quarter. Homestead Advisers Corp now owns 1,939,440 shares of the biopharmaceutical company’s stock worth $69,878,000 after acquiring an additional 8,300 shares during the period. Finally, Invesco Ltd. increased 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 acquiring an additional 326,525 shares during the period. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Stock Down 5.4%

Shares of RPRX stock opened at $38.56 on Monday. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $41.24. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. The business’s fifty day moving average is $36.50 and its 200-day moving average is $35.48. The stock has a market cap of $22.49 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 2.03 and a beta of 0.56.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.06. Royalty Pharma had a return on equity of 26.36% and a net margin of 32.51%.The business had revenue of $609.29 million during the quarter, compared to analysts’ expectations of $765.01 million. Equities analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, November 14th. Royalty Pharma’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RPRX. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Morgan Stanley decreased their price objective on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Citigroup raised their target price on Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group assumed coverage on Royalty Pharma in a research note on Tuesday, September 30th. They issued a “buy” rating and a $42.00 price target for the company. Finally, Wall Street Zen upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Royalty Pharma has a consensus rating of “Buy” and an average price target of $46.00.

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.