Bank Pictet & Cie Europe AG Sells 10,000 Shares of Royalty Pharma PLC (NASDAQ:RPRX)

Bank Pictet & Cie Europe AG trimmed its holdings in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 20.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,000 shares of the biopharmaceutical company's stock after selling 10,000 shares during the period. Bank Pictet & Cie Europe AG's holdings in Royalty Pharma were worth $1,245,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of Royalty Pharma by 69.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,360 shares of the biopharmaceutical company's stock valued at $509,000 after purchasing an additional 6,700 shares during the period. SG Americas Securities LLC bought a new position in shares of Royalty Pharma in the first quarter worth about $1,665,000. Yousif Capital Management LLC purchased a new stake in shares of Royalty Pharma during the first quarter worth about $275,000. Pallas Capital Advisors LLC raised its stake in Royalty Pharma by 8.8% during the 1st quarter. Pallas Capital Advisors LLC now owns 100,447 shares of the biopharmaceutical company's stock valued at $3,127,000 after purchasing an additional 8,113 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new position in Royalty Pharma in the 1st quarter worth approximately $31,591,000. 54.35% of the stock is currently owned by institutional investors.

Royalty Pharma Price Performance

Shares of RPRX traded up $0.35 during mid-day trading on Thursday, hitting $34.91. 3,957,630 shares of the stock were exchanged, compared to its average volume of 3,631,742. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.56 and a current ratio of 1.56. The company has a market cap of $19.63 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.77 and a beta of 0.48. Royalty Pharma PLC has a 52-week low of $24.05 and a 52-week high of $35.38. The firm has a 50-day moving average of $33.00 and a two-hundred day moving average of $31.09.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $724.69 million. On average, equities analysts predict that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Friday, May 16th. Royalty Pharma's payout ratio is 47.57%.

Wall Street Analyst Weigh In

RPRX has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on shares of Royalty Pharma in a research report on Friday, May 16th. They set an "overweight" rating and a $51.00 price objective on the stock. Citigroup reiterated a "buy" rating on shares of Royalty Pharma in a report on Friday, March 28th. Finally, Wall Street Zen downgraded shares of Royalty Pharma from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Royalty Pharma has an average rating of "Buy" and an average price target of $47.33.

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.