APG Asset Management N.V. Cuts Stock Holdings in Royalty Pharma PLC $RPRX

Key Points

• APG Asset Management N.V. reduced its stake in Royalty Pharma PLC by 17.0% during the first quarter, selling 64,914 shares and retaining 317,992 shares, valued at approximately $9.16 million.
• Royalty Pharma reported $1.14 earnings per share for the last quarter, exceeding estimates, but revenues of $578.67 million fell short of expectations.
• The company declared a quarterly dividend of $0.22 per share, representing an annualized dividend yield of 2.4%, to be paid on September 10th.

APG Asset Management N.V. trimmed its position in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 17.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317,992 shares of the biopharmaceutical company's stock after selling 64,914 shares during the quarter. APG Asset Management N.V. owned approximately 0.06% of Royalty Pharma worth $9,164,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Louisbourg Investments Inc. purchased a new position in shares of Royalty Pharma during the 1st quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB grew 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 valued at $30,000 after acquiring an additional 414 shares during the period. Summit Securities Group LLC purchased a new stake in Royalty Pharma in the 1st quarter worth $36,000. Allworth Financial LP raised its position in Royalty Pharma by 41.6% during the first quarter. Allworth Financial LP now owns 1,539 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 452 shares during the period. Finally, Friedenthal Financial acquired a new stake in Royalty Pharma during the 1st quarter worth $77,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Trading Down 0.9%

Shares of RPRX stock opened at $35.99 on Tuesday. The company's 50-day moving average price is $36.19 and its 200-day moving average price is $33.97. 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 market cap of $20.99 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.37 and a beta of 0.55. Royalty Pharma PLC has a twelve month low of $24.05 and a twelve month high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share 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 analysts' expectations of $750.06 million. Royalty Pharma had a net margin of 44.23% and a return on equity of 25.54%. As a group, equities 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.88 annualized dividend and a dividend yield of 2.4%. Royalty Pharma's payout ratio is presently 50.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen cut shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Citigroup lifted their target price on shares of Royalty Pharma from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $48.00.

Royalty Pharma Company 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.

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