Royalty Pharma PLC $RPRX Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lessened its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,741 shares of the biopharmaceutical company’s stock after selling 2,214 shares during the period. Voya Investment Management LLC’s holdings in Royalty Pharma were worth $1,735,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Louisbourg Investments Inc. acquired a new position in Royalty Pharma in the 1st quarter valued at about $28,000. MassMutual Private Wealth & Trust FSB increased its position in Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 414 shares during the period. Summit Securities Group LLC acquired a new position in Royalty Pharma in the 1st quarter valued at about $36,000. WPG Advisers LLC acquired a new position in Royalty Pharma in the 1st quarter valued at about $39,000. Finally, Allworth Financial LP increased its position in Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 452 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Wall Street Analysts Forecast Growth

RPRX has been the topic of several recent research reports. Citigroup boosted their price target on Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Morgan Stanley boosted their target price on Royalty Pharma from $51.00 to $54.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Finally, Wall Street Zen cut Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat, Royalty Pharma has a consensus rating of “Buy” and an average price target of $48.00.

Royalty Pharma Price Performance

RPRX stock opened at $35.86 on Tuesday. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $38.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26. The stock’s 50 day moving average price is $36.34 and its 200 day moving average price is $34.39. The firm has a market cap of $20.91 billion, a P/E ratio of 20.73, a PEG ratio of 2.26 and a beta of 0.58.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%.The firm had revenue of $578.67 million for the quarter, compared to analyst estimates of $750.06 million. On average, sell-side analysts expect that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. Royalty Pharma’s dividend payout ratio is presently 50.87%.

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.