Covestor Ltd Sells 1,331 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Covestor Ltd lowered its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 13.8% in the third quarter, HoldingsChannel reports. The firm owned 8,326 shares of the biopharmaceutical company’s stock after selling 1,331 shares during the period. Covestor Ltd’s holdings in Royalty Pharma were worth $236,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of Royalty Pharma by 5,215.0% during the second quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 1,043 shares during the last quarter. Gladius Capital Management LP bought a new stake in Royalty Pharma in the second quarter valued at approximately $32,000. Blue Trust Inc. increased its position in shares of Royalty Pharma by 362.7% in the 3rd quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 943 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 655 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Royalty Pharma by 4,335.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,750 shares of the biopharmaceutical company’s stock worth $84,000 after buying an additional 2,688 shares during the period. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $26.21 on Friday. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average price is $27.78 and its two-hundred day moving average price is $27.53. The company has a market cap of $15.55 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 3.92 and a beta of 0.47. Royalty Pharma plc has a twelve month low of $25.20 and a twelve month high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Royalty Pharma had a return on equity of 24.87% and a net margin of 50.53%. The business had revenue of $537.00 million for the quarter, compared to analyst estimates of $600.83 million. During the same period in the previous year, the firm earned $0.85 EPS. On average, analysts predict that Royalty Pharma plc will post 4.05 EPS for the current 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 issued a $0.21 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.20%. Royalty Pharma’s dividend payout ratio is currently 43.52%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup dropped their price target on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. 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. Finally, StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Royalty Pharma currently has an average rating of “Moderate Buy” and an average target price 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.