Wedge Capital Management L L P NC Has $42.07 Million Holdings in Royalty Pharma PLC $RPRX

Wedge Capital Management L L P NC lessened its stake in Royalty Pharma PLC (NASDAQ:RPRX) by 1.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,192,441 shares of the biopharmaceutical company’s stock after selling 22,480 shares during the quarter. Wedge Capital Management L L P NC owned about 0.20% of Royalty Pharma worth $42,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Augustine Asset Management Inc. increased its stake in shares of Royalty Pharma by 4.4% in the 2nd quarter. Augustine Asset Management Inc. now owns 6,722 shares of the biopharmaceutical company’s stock valued at $242,000 after acquiring an additional 283 shares during the last quarter. GAMMA Investing LLC boosted its stake in Royalty Pharma by 9.6% during the 3rd quarter. GAMMA Investing LLC now owns 3,306 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 289 shares during the last quarter. Keybank National Association OH grew its holdings in Royalty Pharma by 1.0% during the second quarter. Keybank National Association OH now owns 33,139 shares of the biopharmaceutical company’s stock valued at $1,194,000 after purchasing an additional 321 shares during the period. Wedmont Private Capital increased its stake in Royalty Pharma by 5.1% in the third quarter. Wedmont Private Capital now owns 6,793 shares of the biopharmaceutical company’s stock valued at $245,000 after purchasing an additional 331 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in Royalty Pharma by 19.2% in the second quarter. Fifth Third Bancorp now owns 2,137 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 344 shares during the period. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

RPRX opened at $38.60 on Friday. The business’s 50-day moving average price is $38.36 and its two-hundred day moving average price is $36.76. Royalty Pharma PLC has a 1 year low of $24.32 and a 1 year high of $41.24. The company has a market capitalization of $22.28 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 2.03 and a beta of 0.47. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.48 and a quick ratio of 3.48.

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

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, November 14th. Royalty Pharma’s dividend payout ratio (DPR) is currently 66.67%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Royalty Pharma from a “strong-buy” rating to a “buy” rating in a report on Friday, November 28th. Morgan Stanley reduced their target price on Royalty Pharma from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. The Goldman Sachs Group initiated coverage on Royalty Pharma in a research note on Tuesday, September 30th. They issued a “buy” rating and a $42.00 target price for the company. TD Cowen raised their price target on Royalty Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Cowen reiterated a “buy” rating on shares of Royalty Pharma in a report on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Royalty Pharma presently has an average rating of “Moderate Buy” and an average price target of $45.60.

Insider Activity

In related news, EVP George W. Lloyd sold 30,654 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $38.50, for a total value of $1,180,179.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marshall Urist sold 20,000 shares of Royalty Pharma stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $38.32, for a total transaction of $766,400.00. Following the completion of the sale, the executive vice president owned 140,000 shares in the company, valued at $5,364,800. The trade was a 12.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 806,511 shares of company stock worth $31,457,004 over the last ninety days. Insiders own 18.90% of the company’s stock.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.