Amundi Decreases 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 lowered its stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 51.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,237,378 shares of the biopharmaceutical company's stock after selling 1,316,620 shares during the quarter. Amundi owned approximately 0.21% of Royalty Pharma worth $39,336,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in RPRX. Louisbourg Investments Inc. bought a new position in Royalty Pharma in the 1st quarter worth about $28,000. MassMutual Private Wealth & Trust FSB boosted its stake in Royalty Pharma by 76.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after purchasing an additional 414 shares during the period. Summit Securities Group LLC bought a new position in Royalty Pharma in the 1st quarter worth about $36,000. WPG Advisers LLC bought a new position in Royalty Pharma in the 1st quarter worth about $39,000. Finally, Allworth Financial LP boosted its stake in Royalty Pharma by 41.6% in the 1st quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 452 shares during the period. Institutional investors own 54.35% of the company's stock.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX traded up $0.44 during trading hours on Thursday, reaching $36.62. 2,269,645 shares of the stock traded hands, compared to its average volume of 4,333,808. The company has a market capitalization of $21.35 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.28 and a beta of 0.58. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $38.00. The company's 50-day simple moving average is $36.35 and its two-hundred day simple moving average is $34.25.

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

Royalty Pharma Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, August 15th. Royalty Pharma's dividend payout ratio (DPR) is currently 50.87%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RPRX. Citigroup raised 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 raised 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 raised Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. One equities research 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, Royalty Pharma presently has an average rating of "Buy" and an average target price of $48.00.

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.