Royalty Pharma plc (NASDAQ:RPRX) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in Royalty Pharma plc (NASDAQ:RPRX) by 43.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,486 shares of the biopharmaceutical company’s stock after selling 10,211 shares during the period. Truist Financial Corp’s holdings in Royalty Pharma were worth $356,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of Royalty Pharma by 98.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,947 shares of the biopharmaceutical company’s stock worth $308,000 after acquiring an additional 5,438 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Royalty Pharma by 172.5% in the first quarter. GAMMA Investing LLC now owns 1,638 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 1,037 shares in the last quarter. First Hawaiian Bank purchased a new stake in shares of Royalty Pharma in the first quarter worth approximately $307,000. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Royalty Pharma in the first quarter worth approximately $1,000,000. Finally, Ballentine Partners LLC lifted its position in shares of Royalty Pharma by 3.3% in the first quarter. Ballentine Partners LLC now owns 12,541 shares of the biopharmaceutical company’s stock worth $381,000 after purchasing an additional 406 shares in the last quarter. 54.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RPRX. StockNews.com raised shares of Royalty Pharma from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th. Morgan Stanley increased their price target on Royalty Pharma from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, The Goldman Sachs Group increased their price target on Royalty Pharma from $50.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

Royalty Pharma Trading Down 0.6 %

Shares of Royalty Pharma stock opened at $28.05 on Friday. Royalty Pharma plc has a 12-month low of $25.20 and a 12-month high of $31.66. The stock has a market cap of $16.65 billion, a P/E ratio of 24.82, a P/E/G ratio of 4.10 and a beta of 0.46. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $27.95 and its 200-day moving average is $27.70.

Royalty Pharma (NASDAQ:RPRX) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Royalty Pharma had a return on equity of 23.61% and a net margin of 30.08%. The business had revenue of $537.00 million for the quarter, compared to analyst estimates of $600.83 million. During the same period in the previous year, the firm earned $0.85 EPS. Equities research analysts predict that Royalty Pharma plc will post 4.05 earnings per share for the current fiscal year.

Royalty Pharma Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Friday, November 15th. Royalty Pharma’s payout ratio is 74.34%.

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.