iA Global Asset Management Inc. Sells 3,981 Shares of Royalty Pharma plc (NASDAQ:RPRX)

iA Global Asset Management Inc. lessened its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 70.0% during the first quarter, Holdings Channel.com reports. The fund owned 1,705 shares of the biopharmaceutical company’s stock after selling 3,981 shares during the period. iA Global Asset Management Inc.’s holdings in Royalty Pharma were worth $52,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Inspire Investing LLC increased its stake in Royalty Pharma by 175.1% during the 1st quarter. Inspire Investing LLC now owns 43,524 shares of the biopharmaceutical company’s stock worth $1,322,000 after acquiring an additional 27,701 shares during the period. Torray Investment Partners LLC increased its stake in Royalty Pharma by 22.6% during the 4th quarter. Torray Investment Partners LLC now owns 505,740 shares of the biopharmaceutical company’s stock worth $14,206,000 after acquiring an additional 93,107 shares during the period. APG Asset Management US Inc. bought a new position in Royalty Pharma during the 4th quarter worth $2,100,000. New Century Financial Group LLC bought a new position in Royalty Pharma during the 1st quarter worth $1,091,000. Finally, Patient Capital Management LLC bought a new position in shares of Royalty Pharma in the 4th quarter valued at $35,247,000. Institutional investors own 54.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Bank of America decreased their price target on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. StockNews.com lowered Royalty Pharma from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. UBS Group lowered Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research note on Monday, June 3rd. Finally, Morgan Stanley boosted their price objective on Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.80.

Royalty Pharma Trading Down 0.6 %

RPRX traded down $0.16 during midday trading on Friday, hitting $28.33. 1,784,759 shares of the company were exchanged, compared to its average volume of 2,682,969. The firm has a market capitalization of $16.93 billion, a P/E ratio of 21.26, a P/E/G ratio of 3.70 and a beta of 0.46. The company has a quick ratio of 12.52, a current ratio of 12.52 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average price is $27.08 and its 200-day moving average price is $28.40. Royalty Pharma plc has a 1-year low of $25.20 and a 1-year high of $31.66.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $568.00 million during the quarter, compared to analyst estimates of $671.45 million. Royalty Pharma had a return on equity of 22.94% and a net margin of 35.70%. During the same period in the previous year, the company posted $1.60 EPS. As a group, equities analysts forecast that Royalty Pharma plc will post 4.01 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 16th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Friday, August 16th. Royalty Pharma’s dividend payout ratio is presently 62.69%.

About Royalty Pharma

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.