Handelsbanken Fonder AB Has $25.05 Million Stake in Royalty Pharma plc (NASDAQ:RPRX)

Handelsbanken Fonder AB trimmed its holdings in shares of Royalty Pharma plc (NASDAQ:RPRX) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 891,918 shares of the biopharmaceutical company’s stock after selling 39,718 shares during the period. Handelsbanken Fonder AB owned 0.15% of Royalty Pharma worth $25,054,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP increased its stake in shares of Royalty Pharma by 89.8% in the 3rd quarter. Allworth Financial LP now owns 953 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 451 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Royalty Pharma by 112.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,005 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 531 shares during the period. Lindbrook Capital LLC grew its stake in shares of Royalty Pharma by 485.2% during the fourth quarter. Lindbrook Capital LLC now owns 2,411 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 1,999 shares during the period. Rakuten Securities Inc. acquired a new stake in shares of Royalty Pharma during the fourth quarter worth $110,000. Finally, CWM LLC grew its stake in shares of Royalty Pharma by 75.9% during the third quarter. CWM LLC now owns 4,782 shares of the biopharmaceutical company’s stock worth $130,000 after purchasing an additional 2,064 shares during the period. 54.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Royalty Pharma Price Performance

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

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

Royalty Pharma Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Thursday, May 16th. Royalty Pharma’s dividend payout ratio (DPR) is presently 44.44%.

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.