Royalty Pharma PLC $RPRX Stake Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 6.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 97,612 shares of the biopharmaceutical company’s stock after selling 6,250 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Royalty Pharma were worth $3,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of RPRX. Los Angeles Capital Management LLC increased its holdings in shares of Royalty Pharma by 2,543.7% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,081,128 shares of the biopharmaceutical company’s stock worth $33,656,000 after acquiring an additional 1,040,234 shares during the period. Jupiter Asset Management Ltd. boosted its stake in Royalty Pharma by 462.1% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,090,591 shares of the biopharmaceutical company’s stock valued at $33,950,000 after purchasing an additional 896,555 shares during the period. Nuveen LLC bought a new position in Royalty Pharma in the 1st quarter worth about $27,749,000. AQR Capital Management LLC increased its stake in shares of Royalty Pharma by 37.0% in the first quarter. AQR Capital Management LLC now owns 2,608,090 shares of the biopharmaceutical company’s stock valued at $80,381,000 after purchasing an additional 704,414 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Royalty Pharma by 603.9% in the second quarter. Nordea Investment Management AB now owns 655,995 shares of the biopharmaceutical company’s stock valued at $23,701,000 after purchasing an additional 562,799 shares during the period. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Stock Down 1.4%

Shares of RPRX stock opened at $39.16 on Friday. Royalty Pharma PLC has a 1 year low of $24.05 and a 1 year high of $41.24. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.48 and a current ratio of 3.48. The business’s fifty day moving average is $36.78 and its 200-day moving average is $35.69. The stock has a market cap of $22.60 billion, a PE ratio of 29.67, a price-to-earnings-growth ratio of 2.06 and a beta of 0.56.

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

Royalty Pharma Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.2%. Royalty Pharma’s dividend payout ratio (DPR) is 66.67%.

Wall Street Analysts Forecast Growth

RPRX has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on Royalty Pharma in a research report on Tuesday, September 30th. They set a “buy” rating and a $42.00 price objective for the company. Wall Street Zen raised Royalty Pharma from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings cut Royalty Pharma from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Citigroup raised their price target on Royalty Pharma from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley reduced their price objective on shares of Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price 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.