Overbrook Management Corp Lowers Stock Position in Royalty Pharma plc (NASDAQ:RPRX)

Overbrook Management Corp lowered its position in Royalty Pharma plc (NASDAQ:RPRX) by 26.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 219,677 shares of the biopharmaceutical company’s stock after selling 79,035 shares during the period. Royalty Pharma comprises about 1.2% of Overbrook Management Corp’s portfolio, making the stock its 22nd largest position. Overbrook Management Corp’s holdings in Royalty Pharma were worth $6,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RPRX. Adage Capital Partners GP L.L.C. raised its holdings in shares of Royalty Pharma by 13.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 9,840,000 shares of the biopharmaceutical company’s stock valued at $267,058,000 after purchasing an additional 1,190,000 shares during the last quarter. Morgan Stanley raised its holdings in shares of Royalty Pharma by 1.5% in the third quarter. Morgan Stanley now owns 48,132,615 shares of the biopharmaceutical company’s stock valued at $1,306,319,000 after purchasing an additional 702,754 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Royalty Pharma by 49.2% in the third quarter. California Public Employees Retirement System now owns 2,026,131 shares of the biopharmaceutical company’s stock valued at $54,989,000 after purchasing an additional 667,827 shares during the last quarter. Vanguard Group Inc. increased its holdings in Royalty Pharma by 1.5% during the third quarter. Vanguard Group Inc. now owns 39,437,354 shares of the biopharmaceutical company’s stock worth $1,070,330,000 after buying an additional 589,558 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Royalty Pharma by 45.1% during the third quarter. Qube Research & Technologies Ltd now owns 1,710,872 shares of the biopharmaceutical company’s stock worth $46,433,000 after buying an additional 531,529 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

NASDAQ:RPRX traded up $0.13 on Thursday, reaching $28.11. 2,287,427 shares of the company’s stock were exchanged, compared to its average volume of 2,678,977. The stock has a fifty day simple moving average of $29.65 and a 200-day simple moving average of $28.54. The company has a debt-to-equity ratio of 0.61, a current ratio of 7.90 and a quick ratio of 7.90. Royalty Pharma plc has a 52 week low of $25.92 and a 52 week high of $35.76. The firm has a market cap of $16.79 billion, a price-to-earnings ratio of 14.87 and a beta of 0.45.

Royalty Pharma (NASDAQ:RPRX) last released its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.12. Royalty Pharma had a net margin of 48.22% and a return on equity of 26.93%. The company had revenue of $736.00 million during the quarter, compared to analyst estimates of $702.90 million. As a group, sell-side analysts predict that Royalty Pharma plc will post 3.95 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be given a $0.21 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.99%. Royalty Pharma’s dividend payout ratio (DPR) is currently 44.44%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on RPRX shares. The Goldman Sachs Group decreased their price objective on shares of Royalty Pharma from $56.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, February 20th. Bank of America decreased their price objective on shares of Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a report on Friday, April 12th. StockNews.com upgraded shares of Royalty Pharma from a “hold” rating to a “buy” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Royalty Pharma from $45.00 to $42.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $46.75.

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.