Ridgewood Investments LLC Has $617,000 Stock Holdings in Royalty Pharma plc (NASDAQ:RPRX)

Ridgewood Investments LLC lowered its stake in shares of Royalty Pharma plc (NASDAQ:RPRX) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,822 shares of the biopharmaceutical company’s stock after selling 2,620 shares during the period. Ridgewood Investments LLC’s holdings in Royalty Pharma were worth $617,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Swedbank AB acquired a new stake in Royalty Pharma during the first quarter valued at $251,461,000. New South Capital Management Inc. bought a new stake in shares of Royalty Pharma in the 1st quarter valued at approximately $44,384,000. ADAR1 Capital Management LLC acquired a new position in Royalty Pharma in the fourth quarter worth approximately $37,130,000. Patient Capital Management LLC bought a new position in Royalty Pharma during the fourth quarter valued at approximately $35,247,000. Finally, Homestead Advisers Corp raised its position in Royalty Pharma by 40.7% during the first quarter. Homestead Advisers Corp now owns 1,892,540 shares of the biopharmaceutical company’s stock valued at $57,502,000 after acquiring an additional 547,000 shares in the last quarter. 54.35% of the stock is currently owned by hedge funds and other institutional investors.

Royalty Pharma Stock Performance

Royalty Pharma stock remained flat at $27.75 on Friday. 1,557,017 shares of the company’s stock were exchanged, compared to its average volume of 2,641,365. The company has a debt-to-equity ratio of 0.78, a quick ratio of 9.35 and a current ratio of 9.35. Royalty Pharma plc has a 52-week low of $25.20 and a 52-week high of $31.66. The company’s fifty day moving average is $27.95 and its two-hundred day moving average is $27.86. The firm has a market cap of $16.47 billion, a PE ratio of 20.71, a PEG ratio of 4.16 and a beta of 0.46.

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, topping the consensus estimate of $0.95 by $0.01. The business 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 quarter in the previous year, the firm earned $0.85 EPS. Equities analysts anticipate that Royalty Pharma plc will post 4.04 EPS for the current fiscal year.

Royalty Pharma Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 16th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Friday, August 16th. Royalty Pharma’s dividend payout ratio (DPR) is currently 62.69%.

Analyst Upgrades and Downgrades

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

Royalty Pharma 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.