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

Bank Pictet & Cie Europe AG lowered its stake in Royalty Pharma plc (NASDAQ:RPRX - Free Report) by 20.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,000 shares of the biopharmaceutical company's stock after selling 10,000 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Royalty Pharma were worth $1,245,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in Royalty Pharma by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,131,628 shares of the biopharmaceutical company's stock valued at $79,888,000 after buying an additional 130,025 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Royalty Pharma in the fourth quarter worth $4,950,000. Allspring Global Investments Holdings LLC lifted its position in shares of Royalty Pharma by 303.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 539,995 shares of the biopharmaceutical company's stock worth $13,926,000 after purchasing an additional 406,123 shares in the last quarter. Truist Financial Corp bought a new stake in shares of Royalty Pharma in the fourth quarter worth $371,000. Finally, Vontobel Holding Ltd. bought a new stake in shares of Royalty Pharma in the fourth quarter worth $230,000. Institutional investors own 54.35% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RPRX. Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research report on Friday, March 28th. Morgan Stanley began coverage on shares of Royalty Pharma in a research report on Friday, May 16th. They issued an "overweight" rating and a $51.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $47.33.

Royalty Pharma Price Performance

Shares of RPRX opened at $34.84 on Monday. The company has a market cap of $19.59 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 2.31 and a beta of 0.48. Royalty Pharma plc has a 1-year low of $24.05 and a 1-year high of $35.38. The company's fifty day simple moving average is $32.82 and its 200 day simple moving average is $30.98. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.07. The business had revenue of $839.00 million for the quarter, compared to the consensus estimate of $724.69 million. Royalty Pharma had a net margin of 37.94% and a return on equity of 24.40%. On average, research analysts forecast that Royalty Pharma plc will post 4.49 earnings per share for the current fiscal year.

Royalty Pharma Dividend Announcement

The company 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. The ex-dividend date was Friday, May 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.53%. Royalty Pharma's payout ratio is 47.57%.

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.

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