The Vanguard Group, Inc. recently announced the acquisition of new stake in Royalty Pharma plc (NASDAQ:RPRX). The institutional investor has increased its shareholding in the Healthcare company by 1.88% to 34.83 million shares with purchase of 0.64 million shares. This fresh investment now brings its stake to 7.86% valued currently at $1.22 billion. In addition, Baillie Gifford & Co. raised its holdings by 1.8 million to 18.92 million shares. And BlackRock Fund Advisors has lifted its position by 1.49% or 0.2 million shares – to 13.74 million shares.
With over 2.09 million Royalty Pharma plc (RPRX) shares trading Monday and a closing price of $33.38 on the day, the dollar volume was approximately $69.7 million. The shares have shown a negative half year performance of -21.14% and its price on 05/22/23 lost nearly -0.98%. Currently, there are 445.61M common shares owned by the public and among those 172.08M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for RPRX have a consensus price objective of $50.64. The analysts have set the share’s price value over the next 12 months at a high of $60.00 and a low of $42.00. The average price target is 35.22% above its recent price level and an upside to the estimated low will see the stock gain 20.52% over that period. But an upside of 44.37% will see the stock hit the forecast high price target while median target price for the stock is $49.00.
The top 3 mutual fund holders in Royalty Pharma plc are Vanguard Total Stock Market ETF, Vanguard Mid Cap Index Fund, and Morgan Stanley Instl. Fund-Growth. Vanguard Total Stock Market ETF owns 11.66 million shares of the company’s stock, all valued at over $409.76 million. The company bought an additional 0.13 million shares recently to bring their total holdings to about 2.63% of the shares outstanding. Vanguard Mid Cap Index Fund bought 56925.0 shares to see its total holdings expand to 8.8 million shares valued at over $309.27 million and representing 1.99% of the shares outstanding. Morgan Stanley Instl. Fund-Growth sold -1.06 million shares to bring its total holdings to over 8.22 million shares at a value of $288.92 million. Morgan Stanley Instl. Fund-Growth now owns shares totaling to 1.86% of the shares outstanding.
Shares of Royalty Pharma plc (NASDAQ: RPRX) opened at $33.82, up $0.11 from a prior closing price of $33.71. However, the script later moved the day high at 33.84, down -0.98%. The company’s stock has a 5-day price change of -2.77% and -10.49% over the past three months. RPRX shares are trading -15.54% year to date (YTD), with the 12-month market performance down to -16.09% lower. It has a 12-month low price of $32.67 and touched a high of $44.66 over the same period. RPRX has an average intraday trading volume of 1.90 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.67%, -5.27%, and -15.18% respectively.
Institutional ownership of Royalty Pharma plc (NASDAQ: RPRX) shares accounts for 68.40% of the company’s 445.61M shares outstanding. Mutual fund holders own 36.10%, while other institutional holders and individual stakeholders account for 41.10% and 25.72% respectively.
It has a market capitalization of $20.22B. The stock’s trailing 12-month PE ratio is 44.21, while the earnings-per-share (ttm) stands at $0.76. The company has a PEG of 7.02 and a Quick Ratio of 2.40 with the debt-to-equity ratio at 1.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.04% over the week and 1.94% over the month.
Analysts forecast that Royalty Pharma plc (RPRX) will achieve an EPS of $0.83 for the current quarter, $0.78 for the next quarter and $3.93 for 2024. The lowest estimate earnings-per-share for the quarter is $0.78 while analysts give the company a high EPS estimate of $0.89. Comparatively, EPS for the current quarter was $0.79 a year ago. Earnings per share for the fiscal year are expected to decrease by -93.50%, and -4.40% over the next financial year. EPS should grow at an annualized rate of 6.30% over the next five years, compared to -45.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Royalty Pharma plc (RPRX) as a “Strong Buy” at a consensus score of 1.70. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 0 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
