Victory Capital Management Inc. Boosts Stake in Royalty Pharma plc (NASDAQ:RPRX)

Victory Capital Management Inc. grew its position in shares of Royalty Pharma plc (NASDAQ:RPRX) by 26.8% during the third quarter, Holdings Channel reports. The fund owned 849,035 shares of the biopharmaceutical company’s stock after purchasing an additional 179,411 shares during the period. Victory Capital Management Inc.’s holdings in Royalty Pharma were worth $24,019,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Xponance Inc. grew its holdings in shares of Royalty Pharma by 1.9% during the 2nd quarter. Xponance Inc. now owns 31,704 shares of the biopharmaceutical company’s stock worth $836,000 after acquiring an additional 606 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Royalty Pharma by 32.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,698 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 655 shares during the last quarter. Values First Advisors Inc. grew its stake in shares of Royalty Pharma by 7.6% in the 3rd quarter. Values First Advisors Inc. now owns 10,412 shares of the biopharmaceutical company’s stock worth $295,000 after buying an additional 738 shares during the last quarter. Phillips Wealth Planners LLC grew its stake in shares of Royalty Pharma by 10.2% in the 3rd quarter. Phillips Wealth Planners LLC now owns 8,733 shares of the biopharmaceutical company’s stock worth $246,000 after buying an additional 808 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in shares of Royalty Pharma by 12.7% in the 2nd quarter. Meeder Advisory Services Inc. now owns 8,223 shares of the biopharmaceutical company’s stock worth $217,000 after buying an additional 926 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

Shares of RPRX opened at $25.80 on Tuesday. The business’s fifty day simple moving average is $27.42 and its two-hundred day simple moving average is $27.43. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.64. Royalty Pharma plc has a 12 month low of $25.10 and a 12 month high of $31.66. The company has a market cap of $15.31 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 3.76 and a beta of 0.47.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, November 15th. This represents a $0.84 annualized dividend and a yield of 3.26%. Royalty Pharma’s dividend payout ratio is 43.52%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RPRX. The Goldman Sachs Group upped their price target on Royalty Pharma from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. StockNews.com upgraded Royalty Pharma from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup cut their price target on Royalty Pharma from $60.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Royalty Pharma has a consensus rating of “Moderate Buy” and an average price target of $41.67.

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.