Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by abrdn plc

abrdn plc lessened its position in Royalty Pharma plc (NASDAQ:RPRX) by 66.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,257,368 shares of the biopharmaceutical company’s stock after selling 2,448,301 shares during the period. abrdn plc’s holdings in Royalty Pharma were worth $35,319,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RPRX. Allworth Financial LP increased its position in Royalty Pharma by 89.8% during the third quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 451 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Royalty Pharma by 112.0% in the third quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 531 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Royalty Pharma in the fourth quarter worth $110,000. CWM LLC increased its position in shares of Royalty Pharma by 75.9% in the third quarter. CWM LLC now owns 4,782 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 2,064 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Royalty Pharma by 10.8% in the third quarter. PNC Financial Services Group Inc. now owns 5,509 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 536 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Price Performance

Shares of RPRX stock opened at $27.82 on Tuesday. The company has a market capitalization of $16.62 billion, a PE ratio of 14.72 and a beta of 0.45. The firm has a fifty day simple moving average of $29.74 and a 200-day simple moving average of $28.54. The company has a current ratio of 7.90, a quick ratio of 7.90 and a debt-to-equity ratio of 0.61. Royalty Pharma plc has a twelve month low of $25.92 and a twelve month high of $36.19.

Royalty Pharma (NASDAQ:RPRX) last announced its earnings results on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.12. The business had revenue of $736.00 million during the quarter, compared to the consensus estimate of $702.90 million. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. Equities research analysts anticipate that Royalty Pharma plc will post 3.95 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a yield of 3.02%. Royalty Pharma’s dividend payout ratio (DPR) is 44.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a research report on Tuesday, February 20th. The Goldman Sachs Group dropped their price objective on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Finally, Bank of America dropped their price objective on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Royalty Pharma currently has a consensus rating of “Buy” and a consensus price target of $46.75.

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.