Royalty Pharma PLC $RPRX Shares Acquired by Amalgamated Bank

Amalgamated Bank boosted its position in shares of Royalty Pharma PLC (NASDAQ:RPRX) by 9.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,300 shares of the biopharmaceutical company’s stock after buying an additional 1,877 shares during the quarter. Amalgamated Bank’s holdings in Royalty Pharma were worth $803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. USA Financial Formulas acquired a new position in shares of Royalty Pharma during the 2nd quarter worth approximately $32,000. Summit Securities Group LLC purchased a new stake in shares of Royalty Pharma in the 1st quarter valued at about $36,000. WPG Advisers LLC purchased a new position in shares of Royalty Pharma in the 1st quarter valued at approximately $39,000. Allworth Financial LP lifted its holdings in Royalty Pharma by 41.6% in the first 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. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Royalty Pharma by 42.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,358 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 402 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Price Performance

NASDAQ RPRX opened at $38.56 on Friday. The company has a market capitalization of $22.49 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 2.15 and a beta of 0.56. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $41.24. The firm’s 50 day moving average is $36.50 and its 200-day moving average is $35.43. The company has a quick ratio of 1.26, a current ratio of 3.48 and a debt-to-equity ratio of 0.89.

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

Royalty Pharma Announces Dividend

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

Analyst Upgrades and Downgrades

RPRX has been the subject of several research reports. Citigroup boosted their price objective on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, July 22nd. Weiss Ratings downgraded shares of Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Wall Street Zen upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. The Goldman Sachs Group assumed coverage on shares of Royalty Pharma in a report on Tuesday, September 30th. They set a “buy” rating and a $42.00 price objective for the company. Finally, Morgan Stanley lowered their target price on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. 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 data from MarketBeat, Royalty Pharma has a consensus rating of “Buy” and an average price target of $46.00.

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.