Royalty Pharma PLC (NASDAQ:RPRX) Stock Holdings Reduced by Eastern Bank

Key Points

• Eastern Bank reduced its stake in Royalty Pharma PLC by 52.2%, selling 28,871 shares and leaving it with 26,444 shares valued at approximately $823,000.
• Royalty Pharma announced a quarterly dividend of $0.22 per share, with a payout ratio of 47.57% and a dividend yield of 2.37%.
• Analysts have mixed sentiments on Royalty Pharma, with Citigroup raising its target price to $42.00 and the average analyst rating being a "buy" with an average price target of $49.00.

Eastern Bank decreased its position in Royalty Pharma PLC (NASDAQ:RPRX - Free Report) by 52.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,444 shares of the biopharmaceutical company's stock after selling 28,871 shares during the quarter. Eastern Bank's holdings in Royalty Pharma were worth $823,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Applied Finance Capital Management LLC boosted its stake in shares of Royalty Pharma by 3.0% during the 1st quarter. Applied Finance Capital Management LLC now owns 11,265 shares of the biopharmaceutical company's stock worth $351,000 after acquiring an additional 329 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Royalty Pharma by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 48,481 shares of the biopharmaceutical company's stock worth $1,238,000 after acquiring an additional 349 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of Royalty Pharma by 21.8% during the 4th 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 in the last quarter. Sherbrooke Park Advisers LLC boosted its stake in shares of Royalty Pharma by 1.1% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 34,891 shares of the biopharmaceutical company's stock worth $890,000 after acquiring an additional 380 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Royalty Pharma by 76.4% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 54.35% of the company's stock.

Royalty Pharma Stock Up 0.8%

Shares of RPRX stock traded up $0.31 on Friday, reaching $37.11. 1,878,469 shares of the company's stock traded hands, compared to its average volume of 2,650,952. Royalty Pharma PLC has a 12-month low of $24.05 and a 12-month high of $37.56. 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 capitalization of $20.86 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The business's 50 day moving average price is $35.21 and its two-hundred day moving average price is $33.33.

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

Royalty Pharma Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $0.22 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.88 dividend on an annualized basis and a yield of 2.4%. Royalty Pharma's payout ratio is 47.57%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup lifted their price target on 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 downgraded Royalty Pharma from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Finally, Morgan Stanley lifted their price target on Royalty Pharma from $51.00 to $54.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. 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 stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $49.00.

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.