Royalty Pharma PLC $RPRX Shares Acquired by Credit Agricole S A

Key Points

• Credit Agricole S A significantly increased its holdings in Royalty Pharma PLC by 1,701.5%, now owning 125,130 shares valued at approximately $3.895 million.
• Royalty Pharma reported $1.14 earnings per share for the last quarter, surpassing analyst expectations of $1.10, but its revenue of $578.67 million fell short of estimates.
• The company announced a quarterly dividend of $0.22 per share, representing a 2.4% annual yield, with the ex-dividend date set for August 15th.

Credit Agricole S A boosted its stake in shares of Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 1,701.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 125,130 shares of the biopharmaceutical company's stock after purchasing an additional 118,184 shares during the period. Credit Agricole S A's holdings in Royalty Pharma were worth $3,895,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RPRX. Two Sigma Advisers LP increased its position in shares of Royalty Pharma by 21.1% in the 4th quarter. Two Sigma Advisers LP now owns 3,673,200 shares of the biopharmaceutical company's stock valued at $93,703,000 after acquiring an additional 640,000 shares during the period. Victory Capital Management Inc. raised its stake in shares of Royalty Pharma by 270.4% in the first quarter. Victory Capital Management Inc. now owns 3,623,134 shares of the biopharmaceutical company's stock worth $112,788,000 after purchasing an additional 2,644,923 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Royalty Pharma by 12.8% during the fourth quarter. Northern Trust Corp now owns 3,330,429 shares of the biopharmaceutical company's stock worth $84,959,000 after purchasing an additional 376,619 shares during the period. Deutsche Bank AG lifted its holdings in shares of Royalty Pharma by 36.2% during the fourth quarter. Deutsche Bank AG now owns 3,189,964 shares of the biopharmaceutical company's stock worth $81,376,000 after purchasing an additional 847,704 shares during the period. Finally, Bank of America Corp DE boosted its position in Royalty Pharma by 46.7% in the fourth quarter. Bank of America Corp DE now owns 2,985,585 shares of the biopharmaceutical company's stock valued at $76,162,000 after buying an additional 950,880 shares during the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Royalty Pharma Price Performance

Shares of RPRX stock traded down $0.36 during trading hours on Thursday, reaching $35.70. The company had a trading volume of 407,352 shares, compared to its average volume of 4,288,580. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a fifty day moving average of $36.24 and a 200-day moving average of $34.00. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $38.00. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.35 and a beta of 0.55.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.04. The company had revenue of $578.67 million during 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%. On average, equities analysts anticipate that Royalty Pharma PLC will post 4.49 earnings per share for the current year.

Royalty Pharma Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, August 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. Royalty Pharma's dividend payout ratio is 50.87%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RPRX. Wall Street Zen lowered shares of Royalty Pharma from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Morgan Stanley increased their price target on Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Finally, Citigroup boosted their price objective on Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target 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.