From MarketBeat: Summit Global Investments Lowers Position in Royalty Pharma plc (NASDAQ:RPRX)
From MarketBeat:
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Summit Global Investments reduced its stake in Royalty Pharma plc (NASDAQ:RPRX – Free Report) by 93.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,179 shares of the biopharmaceutical company’s stock after selling 163,271 shares during the quarter. Summit Global Investments’ holdings in Royalty Pharma were worth $303,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in Royalty Pharma in the 2nd quarter valued at $608,000. BOKF NA purchased a new stake in Royalty Pharma in the 1st quarter valued at $180,000. Barclays PLC raised its position in Royalty Pharma by 154.6% in the 2nd quarter. Barclays PLC now owns 1,103,665 shares of the biopharmaceutical company’s stock valued at $33,928,000 after buying an additional 670,204 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Royalty Pharma by 12.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 791,336 shares of the biopharmaceutical company’s stock valued at $24,326,000 after purchasing an additional 85,802 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Royalty Pharma by 3.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,407,537 shares of the biopharmaceutical company’s stock valued at $50,714,000 after purchasing an additional 46,358 shares during the period. 49.03% of the stock is owned by hedge funds and other institutional investors.
Royalty Pharma Stock Up 0.6 %
RPRX stock opened at $27.55 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 13.51 and a current ratio of 13.51. The company has a market capitalization of $16.46 billion, a price-to-earnings ratio of 88.87, a PEG ratio of 1.65 and a beta of 0.41. Royalty Pharma plc has a fifty-two week low of $25.92 and a fifty-two week high of $39.94. The stock has a fifty day moving average of $27.54 and a 200-day moving average of $28.93.
Royalty Pharma (NASDAQ:RPRX – Get Free Report) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.02). The firm had revenue of $637.00 million for the quarter, compared to the consensus estimate of $640.96 million. Royalty Pharma had a return on equity of 29.99% and a net margin of 7.96%. As a group, equities research analysts predict that Royalty Pharma plc will post 4.2 earnings per share for the current year.
Royalty Pharma Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, November 17th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.80 annualized dividend and a dividend yield of 2.90%. Royalty Pharma’s payout ratio is 258.07%.
Analyst Ratings Changes
A number of brokerages have issued reports on RPRX. Morgan Stanley upped their price objective on Royalty Pharma from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, November 9th. TheStreet downgraded Royalty Pharma from a “c” rating to a “d+” rating in a research note on Friday, November 10th. Finally, StockNews.com began coverage on Royalty Pharma in a research note on Thursday, October 5th. They issued a “hold” rating for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.00.
About Royalty Pharma (Free Report)
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.
Further Reading
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