Swiss National Bank Sells 32,300 Shares of Royalty Pharma plc (NASDAQ:RPRX)

Swiss National Bank cut its stake in Royalty Pharma plc (NASDAQ:RPRX) by 2.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,193,200 shares of the biopharmaceutical company’s stock after selling 32,300 shares during the period. Swiss National Bank’s holdings in Royalty Pharma were worth $33,517,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RPRX. Allworth Financial LP lifted its holdings 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 worth $26,000 after acquiring an additional 451 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Royalty Pharma by 112.0% during the third 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 valued at $68,000 after buying an additional 1,999 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Royalty Pharma in the fourth quarter worth approximately $110,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Royalty Pharma by 10.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,509 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 536 shares during the last quarter. 54.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Royalty Pharma Stock Down 0.7 %

NASDAQ:RPRX opened at $28.28 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 7.90 and a quick ratio of 7.90. Royalty Pharma plc has a 1-year low of $25.92 and a 1-year high of $35.70. The company has a 50-day moving average of $29.31 and a 200 day moving average of $28.59. The firm has a market cap of $16.90 billion, a PE ratio of 14.96 and a beta of 0.47.

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 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 firm had revenue of $736.00 million during the quarter, compared to analysts’ expectations of $702.90 million. As a group, research analysts anticipate that Royalty Pharma plc will post 3.95 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be paid a $0.21 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.84 annualized dividend and a yield of 2.97%. 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.