New York State Common Retirement Fund Sells 77,522 Shares of Royalty Pharma PLC (NASDAQ:RPRX)

New York State Common Retirement Fund trimmed its position in Royalty Pharma PLC (NASDAQ:RPRX) by 29.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,293 shares of the biopharmaceutical company’s stock after selling 77,522 shares during the quarter. New York State Common Retirement Fund’s holdings in Royalty Pharma were worth $5,893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RPRX. Merit Financial Group LLC acquired a new position in shares of Royalty Pharma in the 1st quarter valued at $252,000. M&T Bank Corp increased its stake in Royalty Pharma by 23.4% in the first quarter. M&T Bank Corp now owns 28,967 shares of the biopharmaceutical company’s stock valued at $902,000 after acquiring an additional 5,500 shares during the period. Yousif Capital Management LLC acquired a new position in Royalty Pharma in the first quarter worth about $275,000. Asset Management One Co. Ltd. lifted its stake in Royalty Pharma by 8.0% during the first quarter. Asset Management One Co. Ltd. now owns 164,931 shares of the biopharmaceutical company’s stock worth $5,134,000 after purchasing an additional 12,148 shares during the period. Finally, Amalgamated Bank boosted its holdings in Royalty Pharma by 4.4% during the first quarter. Amalgamated Bank now owns 20,423 shares of the biopharmaceutical company’s stock valued at $636,000 after purchasing an additional 866 shares in the last quarter. 54.35% of the stock is owned by institutional investors.

Royalty Pharma Stock Up 0.3%

Shares of RPRX opened at $35.59 on Monday. The company has a market capitalization of $20.01 billion, a P/E ratio of 19.24, a PEG ratio of 2.37 and a beta of 0.50. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $36.89. The business’s 50 day simple moving average is $34.49 and its 200-day simple moving average is $32.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.56 and a quick ratio of 1.56.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $839.00 million for the quarter, compared to analyst estimates of $724.69 million. Royalty Pharma had a return on equity of 24.71% and a net margin of 48.23%. As a group, sell-side analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.47%. Royalty Pharma’s dividend payout ratio is currently 47.57%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RPRX. Morgan Stanley set a $54.00 target price on Royalty Pharma and gave the stock an “overweight” rating in a report on Thursday, July 10th. Wall Street Zen lowered Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Sunday, June 29th. Finally, Citigroup restated a “buy” rating on shares of Royalty Pharma in a research note on Friday, March 28th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $48.33.

Royalty Pharma 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.