Royalty Pharma PLC (NASDAQ:RPRX) Stock Position Reduced by Deutsche Bank AG

Deutsche Bank AG lessened its holdings in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 55.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,414,926 shares of the biopharmaceutical company's stock after selling 1,775,038 shares during the period. Deutsche Bank AG owned about 0.25% of Royalty Pharma worth $44,047,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RPRX. Wellington Management Group LLP grew its holdings in Royalty Pharma by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 18,539 shares of the biopharmaceutical company's stock valued at $473,000 after purchasing an additional 733 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Royalty Pharma by 29.1% during the 4th quarter. Wells Fargo & Company MN now owns 70,120 shares of the biopharmaceutical company's stock valued at $1,789,000 after purchasing an additional 15,790 shares in the last quarter. Invesco Ltd. grew its holdings in Royalty Pharma by 33.2% during the 4th quarter. Invesco Ltd. now owns 957,893 shares of the biopharmaceutical company's stock valued at $24,436,000 after purchasing an additional 238,508 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Royalty Pharma during the 4th quarter valued at $19,990,000. Finally, Sterling Capital Management LLC grew its holdings in Royalty Pharma by 30.4% during the 4th quarter. Sterling Capital Management LLC now owns 34,595 shares of the biopharmaceutical company's stock valued at $883,000 after purchasing an additional 8,071 shares in the last quarter. Hedge funds and other institutional investors own 54.35% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RPRX. Citigroup raised their price target on shares of Royalty Pharma from $40.00 to $42.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Wall Street Zen raised shares of Royalty Pharma from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Morgan Stanley raised their price objective on shares of Royalty Pharma from $51.00 to $54.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th.

Royalty Pharma Price Performance

Shares of RPRX traded down $0.15 during mid-day trading on Friday, hitting $36.35. The company's stock had a trading volume of 2,936,706 shares, compared to its average volume of 2,897,648. The firm has a 50-day moving average price of $35.97 and a 200 day moving average price of $33.75. The stock has a market capitalization of $20.44 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 2.37 and a beta of 0.55. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 1.26. Royalty Pharma PLC has a fifty-two week low of $24.05 and a fifty-two week high of $38.00.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its quarterly earnings data 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 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%. On average, research analysts predict that Royalty Pharma PLC will post 4.49 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $0.22 dividend. 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 currently 50.87%.

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.