Amundi Has $39.34 Million Stake in Royalty Pharma PLC $RPRX

Key Points

• Amundi has significantly reduced its stake in Royalty Pharma PLC, selling 1,316,620 shares and now holding 1,237,378 shares, representing a 51.6% decrease in their holdings.
• Royalty Pharma's stock has seen positive ratings from analysts, with Morgan Stanley raising its price target to $54.00 and a consensus rating of "Buy".
• The company has announced a quarterly dividend of $0.22, which will be paid on September 10th, reflecting a 2.4% yield.

Amundi trimmed its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 51.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237,378 shares of the biopharmaceutical company's stock after selling 1,316,620 shares during the period. Amundi owned approximately 0.21% of Royalty Pharma worth $39,336,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Federation des caisses Desjardins du Quebec lifted its holdings in shares of Royalty Pharma by 1.7% in the first quarter. Federation des caisses Desjardins du Quebec now owns 77,431 shares of the biopharmaceutical company's stock valued at $2,412,000 after purchasing an additional 1,282 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Royalty Pharma in the first quarter valued at about $242,000. Royal Bank of Canada lifted its holdings in shares of Royalty Pharma by 367.7% in the first quarter. Royal Bank of Canada now owns 203,760 shares of the biopharmaceutical company's stock valued at $6,342,000 after purchasing an additional 160,191 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of Royalty Pharma in the first quarter valued at about $557,000. Finally, Magnetar Financial LLC bought a new stake in shares of Royalty Pharma in the first quarter valued at about $5,027,000. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Stock Performance

NASDAQ:RPRX traded down $0.33 on Friday, hitting $36.38. The company's stock had a trading volume of 1,115,391 shares, compared to its average volume of 4,323,070. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.74. The stock has a fifty day moving average of $36.36 and a two-hundred day moving average of $34.27. The firm has a market capitalization of $21.21 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 2.26 and a beta of 0.58. Royalty Pharma PLC has a one year low of $24.05 and a one year high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The firm had revenue of $578.67 million for the quarter, compared to analyst estimates of $750.06 million. Royalty Pharma had a return on equity of 25.54% and a net margin of 44.23%. Research analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. Royalty Pharma's dividend payout ratio is presently 50.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RPRX. Citigroup boosted their price target on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Morgan Stanley boosted their price target on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $48.00.

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.