Overbrook Management Corp trimmed its position in shares of Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 29.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,908 shares of the biopharmaceutical company's stock after selling 59,504 shares during the period. Royalty Pharma makes up approximately 0.9% of Overbrook Management Corp's holdings, making the stock its 27th biggest holding. Overbrook Management Corp's holdings in Royalty Pharma were worth $3,986,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc grew its position in Royalty Pharma by 5,215.0% in the 2nd quarter. Versant Capital Management Inc now owns 1,063 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 1,043 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Royalty Pharma during the 2nd quarter worth $32,000. Blue Trust Inc. boosted its position in Royalty Pharma by 362.7% during the third quarter. Blue Trust Inc. now owns 1,203 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 943 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Royalty Pharma by 32.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company's stock valued at $76,000 after purchasing an additional 655 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its position in Royalty Pharma by 274.7% during the second quarter. iA Global Asset Management Inc. now owns 6,388 shares of the biopharmaceutical company's stock valued at $168,000 after purchasing an additional 4,683 shares in the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.
Shares of RPRX stock opened at $26.22 on Thursday. The stock has a 50 day moving average of $27.35 and a 200 day moving average of $27.41. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. The stock has a market cap of $15.45 billion, a P/E ratio of 13.59, a P/E/G ratio of 4.59 and a beta of 0.47. Royalty Pharma plc has a twelve month low of $25.10 and a twelve month high of $31.66.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, November 15th. Royalty Pharma's payout ratio is currently 43.52%.
A number of equities research analysts have commented on the company. Citigroup decreased their price target on Royalty Pharma from $60.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, October 25th. 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 research note on Wednesday, August 14th. Finally, StockNews.com upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.67.
Get Our Latest Stock Report on 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.
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