Bank of New York Mellon Corp Sells 31,549 Shares of Royalty Pharma PLC (NASDAQ:RPRX)

Bank of New York Mellon Corp reduced its stake in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 2.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,462,418 shares of the biopharmaceutical company's stock after selling 31,549 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.25% of Royalty Pharma worth $45,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RPRX. Louisbourg Investments Inc. bought a new stake in shares of Royalty Pharma in the first quarter valued at $28,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Royalty Pharma by 76.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 956 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 414 shares during the period. Westpac Banking Corp bought a new position in shares of Royalty Pharma in the fourth quarter worth $53,000. National Bank of Canada FI boosted its holdings in shares of Royalty Pharma by 21.8% in the fourth quarter. National Bank of Canada FI now owns 2,074 shares of the biopharmaceutical company's stock worth $53,000 after acquiring an additional 371 shares during the period. Finally, Transce3nd LLC bought a new position in shares of Royalty Pharma in the fourth quarter worth $61,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX traded up $0.02 during mid-day trading on Thursday, reaching $35.62. 212,550 shares of the company were exchanged, compared to its average volume of 3,696,424. Royalty Pharma PLC has a 52 week low of $24.05 and a 52 week high of $37.69. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $20.03 billion, a PE ratio of 19.25, a PEG ratio of 2.43 and a beta of 0.50. The company's 50 day moving average price is $34.40 and its 200 day moving average price is $32.53.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. Royalty Pharma had a net margin of 48.23% and a return on equity of 24.71%. The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $724.69 million. Sell-side analysts forecast that Royalty Pharma PLC will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Friday, May 16th. Royalty Pharma's dividend payout ratio is currently 47.57%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Citigroup reaffirmed a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Wall Street Zen cut shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Finally, Morgan Stanley set a $54.00 price target on shares of Royalty Pharma and gave the stock an "overweight" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $48.33.

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.