abrdn plc Sells 2,448,301 Shares of Royalty Pharma plc (NASDAQ:RPRX)

abrdn plc lowered its position in Royalty Pharma plc (NASDAQ:RPRX) by 66.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,257,368 shares of the biopharmaceutical company’s stock after selling 2,448,301 shares during the period. abrdn plc owned approximately 0.21% of Royalty Pharma worth $35,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in RPRX. Adage Capital Partners GP L.L.C. lifted its stake in 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 worth $267,058,000 after purchasing an additional 1,190,000 shares during the last quarter. Morgan Stanley lifted its stake in Royalty Pharma by 1.5% in the third quarter. Morgan Stanley now owns 48,132,615 shares of the biopharmaceutical company’s stock worth $1,306,319,000 after purchasing an additional 702,754 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Royalty Pharma by 49.2% during 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 acquiring an additional 667,827 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Royalty Pharma by 1.5% during the third quarter. Vanguard Group Inc. now owns 39,437,354 shares of the biopharmaceutical company’s stock valued at $1,070,330,000 after acquiring an additional 589,558 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of 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 valued at $46,433,000 after acquiring an additional 531,529 shares in the last quarter. Institutional investors own 54.35% of the company’s stock.

Royalty Pharma Stock Performance

Shares of RPRX stock opened at $27.82 on Tuesday. The firm has a market cap of $16.62 billion, a price-to-earnings ratio of 14.72 and a beta of 0.45. The company’s 50 day moving average is $29.74 and its 200 day moving average is $28.54. The company has a quick ratio of 7.90, a current ratio of 7.90 and a debt-to-equity ratio of 0.61. Royalty Pharma plc has a 52-week low of $25.92 and a 52-week high of $36.19.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $702.90 million. On average, sell-side analysts anticipate that Royalty Pharma plc will post 3.95 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.02%. The ex-dividend date is Thursday, May 16th. Royalty Pharma’s dividend payout ratio is currently 44.44%.

Analysts Set New Price Targets

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

About Royalty Pharma

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.