Victory Capital Management Inc. Has $17.66 Million Stake in Royalty Pharma plc (NASDAQ:RPRX)

Victory Capital Management Inc. grew its holdings in Royalty Pharma plc (NASDAQ:RPRX) by 46.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 669,624 shares of the biopharmaceutical company’s stock after purchasing an additional 211,131 shares during the period. Victory Capital Management Inc. owned about 0.11% of Royalty Pharma worth $17,658,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in RPRX. Truist Financial Corp acquired a new position in shares of Royalty Pharma in the 4th quarter valued at about $443,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Royalty Pharma by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,770,988 shares of the biopharmaceutical company’s stock valued at $49,747,000 after purchasing an additional 122,084 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Royalty Pharma by 0.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 186,763 shares of the biopharmaceutical company’s stock valued at $5,181,000 after purchasing an additional 1,223 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Royalty Pharma by 295.8% in the 4th quarter. Quadrant Capital Group LLC now owns 3,487 shares of the biopharmaceutical company’s stock valued at $98,000 after buying an additional 2,606 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its stake in shares of Royalty Pharma by 326.6% in the 4th quarter. Panagora Asset Management Inc. now owns 281,015 shares of the biopharmaceutical company’s stock valued at $7,894,000 after buying an additional 215,142 shares in the last quarter. Institutional investors and hedge funds own 54.35% of the company’s stock.

Royalty Pharma Stock Down 0.8 %

RPRX opened at $27.55 on Friday. Royalty Pharma plc has a 1-year low of $25.20 and a 1-year high of $31.66. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 4.23 and a beta of 0.46. The business has a 50 day moving average of $27.76 and a 200-day moving average of $28.11.

Royalty Pharma (NASDAQ:RPRX) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $537.00 million during the quarter, compared to analysts’ expectations of $600.83 million. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. During the same period in the prior year, the business earned $0.85 earnings per share. As a group, sell-side analysts anticipate that Royalty Pharma plc will post 4.04 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 16th will be paid a $0.21 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.05%. Royalty Pharma’s payout ratio is 62.69%.

Analysts Set New Price Targets

Several equities research analysts recently commented on RPRX shares. The Goldman Sachs Group boosted their price target on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. StockNews.com cut Royalty Pharma from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley upped their target price on Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Finally, UBS Group cut Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a research report on Monday, June 3rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Royalty Pharma presently has an average rating of “Moderate Buy” and an average target price of $42.00.

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.