Dimensional Fund Advisors LP lessened its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 53.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,078,365 shares of the biopharmaceutical company's stock after selling 1,233,763 shares during the period. Dimensional Fund Advisors LP owned 0.19% of Royalty Pharma worth $51,669,000 at the end of the most recent reporting period.

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Several other institutional investors and hedge funds have also bought and sold shares of RPRX. Barton Investment Management bought a new position in Royalty Pharma in the first quarter valued at about $905,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Royalty Pharma by 16.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 172,418 shares of the biopharmaceutical company's stock valued at $6,662,000 after buying an additional 24,048 shares during the period. Qsemble Capital Management LP bought a new position in shares of Royalty Pharma during the fourth quarter valued at $2,875,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Royalty Pharma during the 4th quarter worth about $4,923,000. Finally, Thrivent Financial for Lutherans boosted its holdings in Royalty Pharma by 10.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 233,320 shares of the biopharmaceutical company's stock valued at $9,016,000 after acquiring an additional 22,015 shares during the last quarter. Institutional investors own 54.35% of the company's stock.

Insider Buying and Selling at Royalty Pharma

In other Royalty Pharma news, EVP Christopher Hite sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $56.52, for a total value of $5,652,000.00. Following the completion of the sale, the executive vice president owned 459,399 shares in the company, valued at approximately $25,965,231.48. This trade represents a 17.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gregory Norden sold 3,045 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $53.00, for a total transaction of $161,385.00. Following the transaction, the director owned 191,803 shares in the company, valued at $10,165,559. This represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 393,009 shares of company stock valued at $21,601,827. Company insiders own 18.84% of the company's stock.

Analyst Ratings Changes

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RPRX has been the subject of a number of recent analyst reports. Citigroup increased their price target on Royalty Pharma from $50.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Wall Street Zen upgraded Royalty Pharma from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Morgan Stanley raised their price objective on shares of Royalty Pharma from $61.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, April 10th. TD Cowen raised their target price on Royalty Pharma from $50.00 to $65.00 and gave the company a "buy" rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Royalty Pharma has an average rating of "Buy" and an average price target of $56.57.

Check Out Our Latest Stock Analysis on RPRX

Royalty Pharma Price Performance

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Shares of NASDAQ RPRX opened at $58.43 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market cap of $33.65 billion, a PE ratio of 39.75, a price-to-earnings-growth ratio of 10.35 and a beta of 0.43. Royalty Pharma PLC has a fifty-two week low of $34.08 and a fifty-two week high of $60.44. The stock has a fifty day moving average of $56.19 and a 200-day moving average of $49.93.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.08. The firm had revenue of $630.58 million during the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. Equities research analysts anticipate that Royalty Pharma PLC will post 5.18 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.235 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.94 annualized dividend and a dividend yield of 1.6%. Royalty Pharma's dividend payout ratio (DPR) is 63.95%.

Royalty Pharma Profile

(Free Report)

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company's transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.

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