Manning & Napier Advisors LLC Acquires Shares of 195,853 Royalty Pharma plc (NASDAQ:RPRX)

Manning & Napier Advisors LLC bought a new stake in Royalty Pharma plc (NASDAQ:RPRX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 195,853 shares of the biopharmaceutical company’s stock, valued at approximately $5,165,000.

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

Analyst Ratings Changes

RPRX has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Royalty Pharma from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Bank of America decreased their price objective on Royalty Pharma from $40.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, April 12th. UBS Group downgraded Royalty Pharma from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Monday, June 3rd. Finally, StockNews.com cut Royalty Pharma from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $41.80.

Royalty Pharma Trading Up 0.4 %

Shares of RPRX stock traded up $0.11 on Friday, hitting $26.26. The stock had a trading volume of 5,601,827 shares, compared to its average volume of 2,562,894. The firm has a market cap of $15.69 billion, a P/E ratio of 19.60, a PEG ratio of 3.56 and a beta of 0.46. Royalty Pharma plc has a twelve month low of $25.20 and a twelve month high of $31.66. The company has a current ratio of 12.52, a quick ratio of 12.52 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average price of $27.13 and a two-hundred day moving average price of $28.33.

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

Royalty Pharma Announces Dividend

The business also recently declared 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 3.20%. The ex-dividend date of this dividend is Friday, August 16th. Royalty Pharma’s dividend payout ratio (DPR) is presently 62.69%.

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.